After entering administration, Sheffield Wednesday have been the subject of interest from a variety of potential buyers, and a highly controversial merger.
Former Newcastle United owner Mike Ashley is reportedly among five interested parties in taking over Sheffield Wednesday.
The EFL Championship club is currently up for sale after entering into administration in October this year. Ashley reportedly tabled an initial £20m offer to buy Sheffield Wednesday on November 25.
Potential suitors were asked to provide £50m in proof of funds by November 21, a deadline set for the club by its administrators Begbies Traynor.
Two further bidders, those potentially being the rumoured interest from US consortiums, are also expected to submit bids for Sheffield Wednesday “imminently”, according to the Daily Mail. Three bidders, including Ashley, are reportedly believed to be “serious” bidders and have ambitions to turn Wednesday’s fortunes around in the long-term.
Sheffield Wednesday has been the subject of interest from both domestic and international buyers, as the Daily Mail revealed up to 12 suitors provided proof of funds to Begbies Traynor and gained financial data access as part of the sale process.
A December 5 date has been earmarked for a preferred party to be selected to enter exclusivity talks with the club, with a view to announce the sale of the club early next year.
The Sheffield United-Wednesday merger proposal
One of the more eye-opening proposals for Sheffield Wednesday came from their cross-city rivals’ ownership group.
The Daily Mail revealed Sheffield United owners COH Sports were in touch with Begbies Traynor over possibly taking over the club and forging a merger between the clubs, unforeseen in English football.
This would inevitably cause uproar amongst both United and Wednesday fanbases, and the proposal was not outlined in its latest statement to United fans, focusing on the one year anniversary of its ownership and promises of bringing the club back to the Premier League.
“As the owners and custodians of the club we remain hugely confident that with your support and some targeted additions to the squad that we will soon climb up the table back to where we belong,” said the statement.
“But be under no illusion: bringing regular Premier League football to Sheffield United is why we are here. We are working as hard as we can to further modernise the Club so that it is in the strongest position to compete.”
Fan support brings new matchday revenue record
Despite Wednesday more than likely playing football in League One next year due to its 12 point deduction after entering into administration this season, the list of suitors indicates the club’s historical significance and standing in English football.
This has also translated into a groundswell of support from Wednesday fans to help the club with its finances. Wednesday supporters have been calling on one another to contribute their money at the club’s merchandise store and buy tickets for fixtures.
Arguably Wednesday’s most important fixture of the season, the Steel City Derby against United, the club’s fans set a new matchday revenue record on November 30 as United won 3-0.
No official figures have been released in regards to the matchday revenue.
