John Textor is ready to enter the bidding for Sheffield Wednesday after confirmation of their administration, as per Alan Nixon.
Dejphon Chansiri is no longer in a position of control at Hillsborough after Sheffield Wednesday were placed into administration on Friday.
SWFC were hit with a 12-point deduction for doing so, but many view it as a price worth paying to be rid of the Thai businessman as their owner.
Image courtesy of: ANDREW BOYERS/REUTERS.
Now, the long road back to stability can hopefully start. The Owls are in need of a new owner, and John Textor’s name has been in and around takeover speculation for some time.
Now, writing on his Patreon, journalist Alan Nixon has issued the latest. He confirmed that American businessman Textor is ready to join the list of bidders as he looks to get back into the game following his departure from Crystal Palace.
Textor is not put off by the prospect of League One football and is ready to explore terms with Begbies Traynor.
A long road back with Sheffield Wednesday takeover awaiting
Chansiri was viewed as the main obstacle to a Sheffield Wednesday takeover during his tenure. A sizeable asking price far above fair market value put many potential bidders off a purchase.
However, with administrators in and Chansiri gone, that hurdle is no more. Those who have eyed a move to buy SWFC before will now be able to do so at a far cheaper price.
Image courtesy of: ED SYKES/REUTERS.
Whoever takes control from the administrators will know a long road back awaits. They will almost certainly be plunged into League One, and they will have to work within financial restrictions for a while in order to truly stabilise.
However, a club of Wednesday’s size will have no shortage of interest. It will be hoped well-backed figures such as Textor can come in, provide the investment required and finally build for a brighter future.
Who is potential Sheffield Wednesday bidder John Textor?
Sheffield Wednesday fans will be more than familiar with the Textor name by now. Previous takeover links have come and gone, but he looks set to return to the table now.
Textor has branched into many areas of business, making most of his fortune in the technology and television industries. He took his first steps into football as a large stakeholder at Crystal Palace in 2021.
This led to him acquiring multiple overseas clubs; RWD Molenbeek, Botafogo, and Lyon.
Since selling his Palace shares earlier this year, Textor has been on the lookout for a new club for his Eagles Holdings Ltd. company. SWFC could be his next project as numerous interested parties come to the fore after Chansiri’s exit.