Sheffield Wednesday takeover: Who is Mike Ashley the billionaire back in the frame to buy Owls?
Billionaire retail mogul Mike Ashley is said to be in the running to buy the Owls - but who is he?
The 61-year-old is famously a retail entrepreneur who went from being a squash coach and the owner of a single sports shop in 1982, to the owner of Frasers Group plc.
Along the way he snapped up a string of brands, as evidenced by the group’s presence in Meadowhall, Sheffield.
Shops there include a flagship Frasers and Sports Direct - incorporating USC, GAME, Evans Cycles and Sofa.com - and an upmarket Flannels designer fashion store.
According to the Sunday Times, in 2025 he was the 52nd richest person in the UK with an estimated net worth of £3.12bn. The following year he is said to have paid a whopping £175.9m in tax.
He clearly has the cash to buy the in-administration football club which has been relegated to League One.
But what is his track record in football?
He bought Newcastle United in 2007 for about £134m and sold it 14 years later in 2021.
The club was relegated from the Premier League twice (2009 and 2016) but won promotion back to the top flight both times.
His tenure was said to be marked by strong financial control and cost-cutting, limited transfer spending compared to rivals, frequent managerial changes and protests from supporters.
He sold the club in October 2021 to a Saudi-led consortium backed by the Public Investment Fund of Saudi Arabia for about £305 million.
He also owned a minority stake in Rangers in 2014 and sold it in 2017.
His involvement was said to be controversial, with disputes over retail rights and governance issues.
In 2021 he attempted to buy Derby County while the club was in administration but ultimately did not complete a takeover.
Kieran Maguire, associate professor of football finance at Liverpool University suggested Mr Ashley had tabled a potential bid of £20m for Sheffield Wednesday.
But such a “low ball” figure could see the Owls docked 15 points under EFL rules, he said.