After setting a soft deadline of December 5, former Newcastle United owner Mike Ashley has reportedly emerged as one of the final candidates to buy Sheffield Wednesday.
The Owls have not rushed into anything since entering administration and will be well aware that they must ensure that their next owner can make the guarantees that Dejphon Chansiri could not, financially speaking.
A number of candidates have shown proof of funds worth around £50m, but it has also been reported that a consortium from the Middle East has dropped out of contention due to the cost of completing a takeover. It is expected that, whilst the reserve price could be £30m, the actual cost of buying Sheffield Wednesday could rise to £100m over the next three years when considering a number of investments around the club.
Meanwhile, on the pitch, the Owls have the smaller matter of the Steel City derby to play against Sheffield United this weekend. They square off against the Blades looking to drag their rivals down with them in the Championship’s dropzone.
Previewing the crucial clash, Sheffield Wednesday boss Henrik Pedersen admitted that he expects to face an “organised side” in a tough challenge for his side this weekend.
With a soft deadline of 5 December for their takeover, victory over Sheffield United would certainly be a fine way to start what is a crucial two-week period.
Mike Ashley now a serious contender to buy Sheffield Wednesday
As reported by the i Paper, Ashley is now among the serious candidates to buy Sheffield Wednesday ahead of their December 5 deadline. The Owls are expected to narrow their search down to three or four options by the time that it’s time for offers to arrive and the former Newcastle United chief could yet be among those.
Whilst some will be quick to point out Ashley’s flaws from his time at St James’ Park, he could arguably be what Sheffield Wednesday need at present. He was unambitious at Newcastle when it came to signings, which left fans frustrated, but in terms of finances he was safe.
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The 61-year-old cleared the Magpies’ debt with an interest-free loan and may well steady the ship at Sheffield Wednesday. Whether he’d ensure that they become an established Championship side again after what seems to be inevitable relegation is another question, however.
There’s no denying that Ashley didn’t exactly jump at the chance to invest in the squad during his time at Newcastle, as they suffered relegation from the Premier League twice.
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