Mike Ashley latest as Sheffield Wednesday launch takeover 'Plan B'
Football staff at Sheffield Wednesday are ‘so hungry’ for the club to move forward into new hands, with moves having been made behind the scenes to scope out the interest level from prospective new owners.
The Star was among those to reveal on Wednesday that a preferred bidder consortium led by James Bord had withdrawn from proceedings, meaning administrators at Begbies Traynor would have to re-engage with suitor bids in an ‘expediated process’ designed to take the club into new ownership. Though there is no distinct timescale set, it is understood that the administrators are hoping to receive formal bids for the club in the next week or so.
That puts bidders who are already known to the administrators at an advantage, with both sides having undertaken due diligence in the initial proceedings that led to Bord’s group being handed preferred bidder status.
One of the three groups to have gone furthest in the initial process was that of former Newcastle United owner Mike Ashley. It was reported on Wednesday evening that representatives of the retail mogul were due to speak with those of Begbies Traynor on Thursday and The Star understands via sources that this is the case. Ashley is among the suitors The Star believes to have stayed in contact with authorities with regard to the process throughout the last weeks.
Other parties including that of US businessman David Storch are known to be interested in taking the club on. It’s understood to be likely at this stage that any successful bid will come under the requisite figure needed to satisfy the EFL’s 25p rule - meaning Wednesday are liable to receive a 15-point deduction to take into their return season in League One next time out.
All associated with the club are hoping for a swift resolution to the latest, with focus now shifting to a takeover being in place in time to plan for next season. A heavy recruitment push is required and pre-season planning will need to be put in place.
Speaking after the Owls’ 2-0 defeat at Norwich City, manager Henrik Pedersen said the sooner the club is put into new hands, the better. “We are all looking forward to a new takeover so we can start to look into the future and not only survive,” he said. Of course we are looking forward to this... All the players knew what had happened but we spoke before the game that we had no control, no influence for this process. Where we have influence is to put a performance on the pitch today.”
Like employees at the club, staff and players learned of the Bord group’s withdrawal from the process via The Star’s report on Wednesday afternoon. The break came as a shock on a busy day behind the scenes, with news having been released publicly by the consortium before administrators had been given opportunity to brief staff. Contacted by The Star, a spokesperson for the consortium said the way things had played out had been ‘regrettable’.
“We saw it in the media,” Pedersen said, with the administrators moving onto what he described as ‘Plan B’. “We all got an email about the situation as quick as they could and this was the situation.
“We are so hungry to get it sorted. We are all looking forward to seeing what will happen and for a solution, so we can start to look forward. I am sure they will find the right group now and I know he has a Plan B for this situation. We are all looking forward to it happening as soon as possible - and to find the right person.”