Exclusive:Mystery bidder 'signals intent' to administrators over Sheffield Wednesday takeover
A mystery bidder has made clear its interest in the purchase of Sheffield Wednesday late on in the process to move the club into new hands, The Star understands.
The Owls are in the midst of a process set up by administrators at Begbies Traynor (BTG) that will determine their next preferred bidder to take the club on after the withdrawal of a consortium led by James Bord. A deadline was put in place for formal bids to be received on Friday afternoon, with further discussions and negotiations understood to have taken place into the weekend. Progress is believed to have been made.
The Star reported on Saturday morning that a mystery bid team had raised interest in their acquisition of the club, though their status within the process was as of yet unknown. Sought out for comment by The Star, a source involved in the bid wasn’t able to go into details about the make-up of the interested party itself but did make clear they had ‘signified their intent’ to administrators. It’s understood that as of yet no cast-iron offer has yet been lodged by the mystery bidders.
BTG made clear from the start of their re-engagement with interested parties that they would be running an ‘expediated process’ and suggested a desire to get the club back into preferred bidder status quickly.
It has therefore always been felt those who had not been the subject of a proper due diligence process - on both sides - would struggle to play catch-up on those who went deep into proceedings that led to Bord’s consortium getting the nod before Christmas. Those who had not proven proof of funds started further behind.
Groups led by both former Newcastle United owner Mike Ashley and US businessman David Storch had reached the latest stage of the process previously - before the Bord bid blew them out of the water - and are understood to have made formal offers this time around.
The Star also reported earlier on Saturday that one known interested party - that of Staysure insurance mogul Ryan Howsam - had chosen not to lodge a formal offer to buy the club. Sources involved in a Charlie Methven-led bid did not confirm or deny their position in proceedings when approached by The Star on Saturday morning.
Wednesday supporters are hopeful of a swift resolution to the process - and an authority vetting stage - to move the club on towards a revival from League One next season.