Parties interested in buying Sheffield Wednesday must be prepared to spend big on bolstering the squad and stadium.
That’s according to football finance expert Stefan Borson, who says there are 11 bidders looking to take over the stricken EFL club.
Simon Jordan reveals what he thinks Sheffield Wednesday are currently worth!
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Wednesday are in administration but awaiting new ownersCredit: Getty
Wednesday were placed into administration last month after years of financial struggles under the ownership of Dejphon Chansiri.
The Championship side owe around £1million to HMRC in unpaid tax and were docked 12 points in the second tier of English football.
However, whilst Wednesday look set for relegation to League One, their administration has effectively ended Chansiri’s troubled reign.
Fans also flocked to their club megastore for tickets and merchandise to show their support amid an uncertain future.
Speaking on White and Jordan, Borson revealed that there’s plenty of interest in Wednesday ahead of their new dawn.
However, he warned bidders of the need to deliver heavy spending in order to revitalise the club once a takeover has been completed.
Wednesday takeover update
“I’m working with one of the bidders. There are a number of bidders in play, a number of credible players around,” Borson said.
“Apparently, there’s 11 that have given proof of funds for £50m of liquid assets. That is a serious process, and there is serious interest.
“The issue is actually that you can’t just look at the headline price here. This is a club that’s not had a lick of paint for quite some time and by the end of this season it will be in League One.
“It will have almost no squad and it will have a stadium that needs significant spending. So anybody that comes in is going to have to have deep pockets.
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Borson says there are 11 bidders interested in purchasing the clubCredit: Getty
“I think the people that are circling do have deep pockets, but it is not going to be a cheap deal for anybody. The challenges are great.
“Getting out of League One and putting Sheffield Wednesday where they want to be back in the Premier League is not going to be a simple journey.”
How the Chansiri era fell apart
Wednesday, who were playing Premier League football at the turn of the century, were bought by Thai businessman Chansiri in 2015.
He vowed to get them promoted from the Championship to the top flight within two years, but this never came to fruition.
The Owls were eventually dealt their financial woes with outstanding debt and late wage payments.
Chansiri controversially called for fans to raise £2m to help deal with their cashflow issues in October 2023.
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Wednesday fans continuously protested against Chansiri and his reign as ownerCredit: Getty
Further late payments were accompanied by registration embargoes, as well as transfer window sanctions until the beginning of 2026.
Shortly before the beginning of the 2025/26 season, manager Danny Rohl left and players refused to play in a pre-season friendly.
The North Stand at Hillsborough was closed amid safety fears, and fans staged a mock funeral before their first home match.
They also invaded the pitch during their Championship clash at home to Coventry City in October in further protest against the ownership.
Players also threatened to strike, with wages not being paid for the fifth time in seven months.
Wednesday are bottom of the Championship on minus four points, 17 points from safety, and face rivals Sheffield United on Sunday.