Sheffield Wednesday went into administration last week and the EFL have already deducted 12 points from the club, who are bottom of the Championship and 16 points from safety
13:45, 28 Oct 2025Updated 13:48, 28 Oct 2025
Former Newcastle United owner Mike Ashley(Image: PA Archive/PA Images)
Former Newcastle owner Mike Ashley is said to be considering a takeover bid for troubled Sheffield Wednesday. The Owls entered administration last week after failing to settle a £1million debt to HMRC, triggering a scramble to identify fresh ownership.
Thai businessman Dejphon Chansiri faces removal, with administrators targeting completion of a sale before the year concludes.
Wednesday languish at the foot of the Championship table, sitting 16 points adrift of safety following a 12-point penalty imposed by the EFL for multiple financial breaches.
This suggests any potential buyer would likely be acquiring a future League One outfit, reports the Mirror.
Despite this, interest remains strong, with joint administrator Kris Wigfield confirming on Monday that “four or five” genuine contenders have emerged.
Prospective purchasers must demonstrate sufficient financial backing to ensure the club’s sustainability whilst satisfying the EFL’s ownership criteria.
The Daily Mail suggests Ashley is evaluating his options after learning of the acquisition opportunity at Hillsborough.
The 61-year-old entrepreneur owned Newcastle from 2007 to 2021 and has a track record of purchasing struggling businesses.
His tenure at St James’ Park proved deeply divisive, with supporters staging regular demonstrations against his stewardship over what they viewed as insufficient financial backing. Ashley offloaded the club to the Saudi Arabian Public Investment Fund for £300million four years ago and Forbes values his fortune at $5.7bn (£4.29bn), though the Sunday Times estimated the figure at £3.12bn earlier this year.
He accumulated his wealth through establishing retailer Sports Direct, which subsequently became Frasers Group, where he continues as a director.
Chansiri acquired Wednesday for £30m back in 2015, but it’s uncertain what price they’ll command this time given the debt burden. Nevertheless, Wigfield remains optimistic there’ll be no shortage of potential purchasers.
Wigfield told BBC 5 Live’s Wake Up to Money: “As always, you get a lot of interested parties that probably aren’t going to meet the criteria, but within the numerous inquiries we’ve had, we certainly think that there are already four or five interested parties that look like the real deal.
“There are two criteria that new owners basically need to satisfy to then open dialogue and there to be an opportunity where they can make an offer. The first thing is they need to show the administrators that they could make the football club viable. So they’ve got to show that they’ve got sufficient funds to be able to fund it for the next few years.
“And secondly, we have to be satisfied that they will pass the EFL fit and proper persons test, and if they can satisfy both of those, then we’ll start talking to them seriously.”
He further stated: “Due to EFL rules, we have to market the club for 28 days,” he said. “So it’ll be at least 28 days before we’re getting close to a preferred-bidder status. So I’m hopeful that by the end of November, if things go well, we might know who’s going to buy the football club.
“Then hopefully a deal can be concluded this calendar year, so that the new owner is in for the January transfer window, if the EFL allows the new owner to buy players.”