Sheffield Wednesday’s next owner has yet to be identified, as several parties remain interested in the opportunity.
Former owner Dejphon Chansiri threw the Owls into administration at the end of October, ending his decade-long reign over the Steel City club.
Since then, there has been constant speculation about potential takeovers, the club’s valuation, and the number of parties involved.
With new information on the matter constantly emerging, Football League World examines the latest developments concerning Sheffield Wednesday’s acquisition.
Takeover options will be narrowed down.
With 11 interested parties, including Mike Ashley, reportedly considering a takeover bid on Wednesday, the administrators will need to pare that list down to the most serious choices.
According to the Sheffield Star, administrators have indicated that the list of potential buyers will be reduced to’serious and credible’ bids in the coming weeks.
The 11 parties have already produced confirmation of £50 million in funding, granting them access to sensitive data about the club’s finances.
Following this information, the administrators will be left with only the parties who are still fully committed to seeking a takeover, allowing the process to continue forward.
Takeover timeline disclosed.
With so many groups purportedly interested in taking over the Owls, fans will be waiting for bids to come in.
They may not have to wait long, as the Sheffield Star reports that a soft deadline of November 21 has been set for official proposals to be submitted.
This will further demonstrate which companies are fully committed to taking over Sheffield Wednesday, with a two-week negotiation process planned before administrators seek to select a preferred bidder and grant exclusivity to one party on December 5.
It will be then that the Hillsborough faithful will finally discover who will lead them into the future and out of the Chansiri era.
John McEvoy had a tour of Hillsborough.
All eleven interested parties have not been revealed, but one has: US billionaire John McEvoy.
McEvoy owns shares in the MLB’s Colorado Rockies and the NHL’s Nashville Predators, and football is his next prospective investment.
The Sheffield Star has stated that he traveled to the United Kingdom to receive a tour of Hillsborough and the Middlewood training base.
This is not a privilege conferred upon him alone; another US group was also granted a special viewing of Wednesday’s bases.
However, it demonstrates how serious he is in closing a deal to buy the Owls, which would be immensely exciting for Hillsborough fans.
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