Fight for Troubled Sheffield Wednesday Intensifies

Two-Horse Race Emerges with Ex-Newcastle Owner Mike Ashley in the Running

The battle for Sheffield Wednesday is heating up, with a preferred bidder expected to be selected in the near future. According to sources, the fight for the troubled Championship club has narrowed down to a two-horse race, with former Newcastle United owner Mike Ashley and a consortium made up of Americans John McEvoy and the Storch family in the running.

Concerns Over Funding

One of the groups that initially expressed interest in the club has been dropped from the running due to concerns over their funding. The group, which included a former poker player, had a consultancy firm that listed Sheffield United among its clients. However, their offer is believed to struggle to satisfy the demands of the EFL’s Owners and Directors Test.

High-Bidding Groups

The two remaining groups are led by James Bord, whose AI and data company has advised Sheffield United, and Mike Ashley, who has a proven track record of wealth and a clear source of funding. Bord’s group is believed to have made the highest bid, worth over £30m, while Ashley’s offer is currently the lowest but is still considered a strong contender.

Exclusivity Talks

According to sources, one of the two remaining groups could be selected to enter a period of exclusivity in the coming days. Friday afternoon has been highlighted as a potential cut-off point, although Monday could be more realistic.

Background

Sheffield Wednesday went into administration in October following the disastrous reign of Thai businessman Dejphon Chansiri. The club has struggled to pay wages on time on several occasions and has been the subject of various EFL sanctions. After a summer of cost-cutting, the club currently finds itself certainties for relegation to League One, on minus nine points following 18 points-worth of deductions.

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