Mike Ashley prepares to enter fight for Sheffield Wednesday with £10m bid

Mike Ashley is preparing a £10m bid for struggling Championship club Sheffield Wednesday as he seeks to take advantage of the Owls' financial woes. The 61-year-old former Newcastle owner has been in talks with administrators Begbies Traynor, who were appointed last month after owner Dejphon Chansiri failed to pay players and staff on time in five of the past seven months.

Ashley's bid comes as Sheffield Wednesday face an uncertain future after being docked 12 points by the English Football League (EFL) for entering administration. The club is also set to face further sporting sanctions, including potential relegation to League One, following Chansiri's financial misdemeanours.

The sale of Sheffield Wednesday is being managed as an open auction, with several parties expressing interest in taking over the club. Ashley has provided sufficient proof of funding to enter the process, giving him access to Wednesday's accounts and data room. However, he will face competition for the club from other interested parties, including American billionaire John McEvoy and at least one British group.

Administrator Kris Wigfield has stated that there are currently four or five serious bidders for Sheffield Wednesday, which is likely to drive up the price. Despite the challenges ahead, Ashley believes he can strike a deal quickly due to his pre-existing relationship with the EFL. The Frasers Group director has previously targeted distressed sporting assets, including Coventry City, which he bought and then sold back to the club for £40m.

Ashley's bid may be a lifeline for Sheffield Wednesday, but the club's financial woes run deep. An independent commission is set to hear charges relating to late player payments, while an independent club financial review panel will determine the outcome of further charges. The Owls' future remains uncertain as they struggle to stay afloat in the Championship.

I'm not sure why anyone would want to own a struggling football club... just seems like too much hassle . But, I guess Mike Ashley thinks he can turn things around and make some profit from it . Poor Sheffield Wednesday, their financial woes are really affecting them now . It's just another example of how the financial side of sports can be so tough to navigate . But hey, a £10m bid might just be enough to get them back on track ... fingers crossed they can turn it around and make the most of this opportunity .

I'm low-key worried about Sheffield Wednesday , you know? They're literally drowning in debt . I mean, 12 points docked and potential relegation to League One is a big deal ️. Mike Ashley might be able to step in with a £10m bid, but it's not like he's saving the club or anything . It's more like he's trying to make a profit off their financial struggles . I hope he can bring some stability to the club, but I'm not holding my breath . The fact that there are multiple bidders in the mix is both good and bad . On one hand, it could drive up the price and give Ashley a better deal . On the other hand, it's just more uncertainty for the players and staff who are already struggling to get paid on time . Fingers crossed Sheffield Wednesday can turn their finances around soon #SheffieldWednesday #MikeAshley #FootballFinances

I was just thinking about my fantasy football team and how I'm having a rubbish season ... anyway, Sheffield Wednesday's situation is so sad . I remember when Newcastle United was struggling like that under Mike Ashley (no relation ) and it was hard to watch. But maybe this will be a fresh start for the Owls? Have you guys been following their season?

I feel like this is gonna be like when Leeds United got sold back to Peter Ridsdale all those years ago... Mike Ashley just seems like another wealthy buyer looking to make a quick buck off a struggling club. You know how it goes, "make hay while the sun shines"... Sheffield Wednesday's financial woes are real, but I'm sure whoever buys them will figure out a way to turn it around... or maybe not . Can't help but think about all the other clubs that have gone through this same ordeal and come out on top... or not . This is just one of those things where you wonder what could've been done differently, like when Chelsea bought Liverpool back in the 80s... ️ Those were the days!

I'm loving this news about Mike Ashley's bid for Sheffield Wednesday! Who wouldn't want to invest in a struggling football club, right? The dude's got deep pockets and some serious experience in the EFL from his Newcastle days. Plus, he's already proven himself as a master of buying and selling distressed assets - just think about Coventry City, dude! But seriously, Sheffield Wednesday is in a tough spot, so maybe Ashley can be that savior they need to turn things around? The fact that there are multiple serious bidders, including an American billionaire, could drive the price up, but I'm all for it - more money = better football, right?

Ugh, can't believe how broken the system is . Mike Ashley thinks he can swoop in and save Sheffield Wednesday just because he's got deep pockets? Like, where's the transparency here? It's all about who's willing to pay top dollar without knowing what they're really getting into . And now the club's facing relegation? That's just devastating for the fans . I mean, I get that the EFL is trying to prevent financial ruin, but this feels like a PR stunt more than anything . What about the fans who've been suffering through all this? They're the ones who deserve some answers . Anyway, Ashley's bid better bring some stability or he'll be the next one getting roasted .

sheffield wednesday is stuck between a rock and a hard place , financially speaking. if mike ashley gets his hands on the club, maybe he can help them avoid the dreaded relegation to league one but what about the long-term stability? have they really sorted out their financial issues or are they just kicking the can down the road ️? and what's with this open auction thingy? sounds like a recipe for disaster . still, at least they're getting some serious interest from other parties, maybe it'll be a good thing in disguise

I'm not sure if Mike Ashley is the right guy for Sheffield Wednesday... I mean, he has some experience with buying and selling clubs, but that's also where his track record gets pretty messy . I don't know if £10m is enough to save the club from its financial woes. It's like trying to put a Band-Aid on a deeper wound . On the other hand, Ashley does have some connections with the EFL, which could be helpful in navigating these complex times . But then again, I've seen how he handled Coventry City, and that didn't exactly end well for the club . Ugh, I'm all confused about this one .

OMG , I'm thinking Ashley's bid might just be what Wednesday needs ASAP ! They've been struggling for ages and it's time for someone to step up & help them get back on track . But let's not forget there are other parties interested too, like McEvoy & the British group . It'll be interesting to see how this all plays out... the pressure is on ! I'm rooting for Ashley tho, he's got a good track record of turning clubs around ! Fingers crossed they can sort out their finances & avoid relegation

So Ashley is gonna try and save Wednesday from themselves? That £10m bid seems like a pretty desperate move on his part... I mean, the club's financial issues run super deep, and it's not just about one person's money coming in to save them.

It's also weird that Ashley would want to take over a team with so much baggage. Like, have you seen their points deduction? That's some serious drama right there And now they're facing potential relegation... what a mess.

Still, at least this could be an opportunity for the club to start fresh. Maybe Ashley can bring in some new blood and get them back on track? ️ But if he's just trying to make a quick buck off a struggling team, that's not cool

What do you guys think about this whole situation? Should Wednesday try to sell themselves out for a quick fix, or should they stick it out and hope things turn around?

Ugh, this is gonna be a disaster... Sheffield Wednesday's got more problems than just Ashley buyin' 'em. Those guys are already facin' some serious sanctions and reegation... League One? That's like gettin' stuck in the basement of football. And what about all those players who ain't gotten paid on time? I bet they're still waitin' to get their wages, that's just great. The commission is gonna hear charges but how many times have we seen these kinda things and nothin ever gets done? Ashley thinks he can swoop in and save the day, sure, 'til the bills come due...

awww poor Sheffield Wednesday i feel bad for them, their financial struggles are real it's like Ashley is trying to help them out tho but omg 12 points docked and potential relegation that's some harsh punishment ️ can't wait to see what happens next do you think Ashley will be able to take Wednesday back up the league?

Ugh I feel bad for Sheffield Wednesday They're literally struggling to make ends meet and it's gonna take some serious effort to get them back on track Mike Ashley might be their only hope, but £10m just seems like so little considering all the debt they've got He's actually made a decent bid, I guess, especially since he's done this before with Coventry City Fingers crossed he can make it happen and not just leave them in an even worse state

So Mike Ashley throws his hat into the ring with a £10m bid for Sheffield Wednesday ... I think it's interesting that he's looking to take advantage of the club's financial woes, considering his track record with Coventry City. He seems to know how to navigate troubled waters, but is he just trying to make a quick buck or genuinely invested in getting the club back on its feet? The fact that there are multiple serious bidders, including John McEvoy and at least one British group, makes me think it's likely to be a bidding war. This could lead to an inflated price tag for the Owls, which might help them avoid relegation but also means they'll have less room for manoeuvre in the future .

OMG, I'm so worried about Sheffield Wednesday . I feel for Dejphon Chansiri and all the fans who've been through this. Mike Ashley's £10m bid is like a ray of hope , but at the same time, it's scary thinking that there are other parties interested too . Like, what if they don't get the deal? The thought of them going to League One is just heartbreaking. Can someone please tell me they'll be okay?

I'm low-key thinking Mike Ashley should just leave Sheffield Wednesday alone. I mean, £10m is a decent chunk of cash, but it's not like he'll be getting the best value for his money considering all the drama surrounding the club . Plus, think about all the other parties interested in buying – John McEvoy and that British group would probably try to put their own stamp on things, which could lead to some major changes... Not sure Ashley wants to deal with that .