Sheffield Wednesday sale delay could open up the race as potential buyers watch on
Sheffield Wednesday’s takeover process has suffered reported delays
The sale of Sheffield Wednesday is ongoing, with mixed reports coming out over the last couple of days.
Administrator, Kris Wigfield, said on Friday that ‘work continues behind the scenes as we work toward identifying a preferred bidder’ and that ‘genuine progress’ was being made, acknowledging the frustrations of the supporters given the latest delay in proceedings.
It had recently been reported that there were three main contenders in the race to purchase the Owls, namely former Newcastle United owner Mike Ashley, a merged US consortium centred on bids from John McEvoy and the Storch family, and also a bid led by former poker player and football analytics enthusiast James Bord.
Over the course of the last few days it has been suggested that neither Bord nor McEvoy are now involved, and while – as reported by Radio Sheffield – the Storch family have made an official bid, The Star understands that they have found a new, as yet unnamed, partner in their attempts to purchase the club.
Elsewhere there were reports of Ashley becoming a frontrunner despite not putting an offer on the table that would be enough to avoid a 15-point deduction, and it’s understood that a number of potential buyers would rekindle their interest if the price tag was lowered.
New Sheffield Wednesday bidders could come to the table
An individual with direct knowledge of a consortium that explored a bid for the Owls explained that the group – and others – were put off by the ‘hype’ surrounding the sale. It has also been suggested that some potential buyers would be willing to accept a 15-point deduction and instead invest the money saved into the club and squad, rather than ‘overpaying’ during what remains a distressed sale.
With that in mind, if offers below the reported £30-35m mark are to be considered, then it’s understood that it would open the floor to other potential buyers – including some that have previously dropped out of the running. What that means for the timeline for the sale remains to be seen, but it could well drag on a little longer than everyone had hoped.