It is believed that the total cost of purchasing Sheffield Wednesday will exceed £100 million as bids increase their interest in the Championship strugglers.
The Owls’ off-field difficulties have been well chronicled under former owner Dejphon Chansiri, and the club went into administration last month.
On the football, Wednesday have paid the price for Chansiri’s incompetence, as a 12-point deduction for going into administration has practically sentenced the club to relegation this season, with harsher fines predicted in the future.
Sheffield Wednesday takeover: bids appear.
However, there is reason to be optimistic about Wednesday’s long-term prospects, as there is a lot of interest in purchasing the Yorkshire club, and bid deadlines are approaching.
Mike Ashley is developing as a real contender, and US investors have expressed genuine interest.
So it will be interesting to see how this unfolds, and more information on the cost of purchasing Sheffield Wednesday has been released.
Obviously, with the club in administration, part of what made the club so enticing was the possibility of finding a bargain – which is exactly what happened.
However, whomever buys Wednesday will still have to invest huge cash in the club, with the iNews reporting that the entire cost might exceed £100 million over the next three years due to the scope of what is required, which includes improvements to the famous Hillsborough stadium.
Sheffield City Council shuttered the North Stand earlier this season due to safety concerns, and renovations are expected to cost ‘tens of millions of pounds’.
Sheffield Wednesday has lots of possibility for growth under the right owner.
Of course, the £100 million figure cited is big, but given Sheffield Wednesday’s potential, you would expect lots of interest in the club at that price.
Realistically, whomever buys the club will be preparing for life in League One next season, but Wednesday’s size suggests they may eventually reach the Premier League and establish themselves back in the top tier.
The fan base, history, and stadium belong at that level, and while it means little in the short term, it demonstrates the club’s potential, and if it is mixed in with the top, the club’s value will skyrocket.
This is easier said than done, and many large clubs, including Wednesday, have languished in the EFL, but the long-term goal will be to reach the Premier League, which will appeal to investors looking for an opportunity to get involved in football.
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