It has been estimated that the full cost of purchasing Sheffield Wednesday will reach £100m as bidders step up their interest in the Championship strugglers.
The Owls’ off-field issues have been well-documented uner former owner Dejphon Chansiri, with the club having entered administration last month.
On the pitch, Wednesday have paid the price for Chansiri’s incompetence, as a 12-point deduction for entering administration has effectively condemned the club to relegation this season, whilst further punishments are expected in the future.
Sheffield Wednesday takeover latest as bidders emerge
However, there is optimism about the long-term future for Wednesday, as there is plenty of interest in purchasing the Yorkshire outfit, and deadlines for bids to arrive are looming.
It has been reported that Mike Ashley is emerging as a serious contender, and it is known that there is genuine interest from US investors.
So, it will be intriguing to see how this plays out, and further details have been shared on just how much it could cost to buy Sheffield Wednesday.
Obviously, with the club in administration, part of what made the club so appealing was that they could be seen as a potential bargain – and that is the case.
Yet, whoever does buy Wednesday will still have to put significant funds into the club, and the iNews has claimed that the total cost could hit the £100m mark over the next three years given the scale of what’s needed, which includes improving the iconic Hillsborough stadium.
The North Stand was closed by Sheffield City Council earlier in the season due to safety concerns, and it’s estimated that ‘tens of millions of pounds’ will be needed to renovate the ground.
Sheffield Wednesday have plenty of room to grow under the right owner
Of course, the £100m figure mentioned is a significant number, but the reality is that the potential of Sheffield Wednesday means you would still expect plenty of interest in the club at that price.
Realistically, whoever does buy the club will be planning for life in League One next season, but the size of Wednesday means they could eventually reach the Premier League and establish themselves back in the top-flight.
The fan base, history and stadium belong at that level, and whilst it counts for nothing in terms of the here and now, it shows the potential of the club, and if they mix it among the elite, the value of the club will have rocketed in the process.
This is easier said than done, and there are many big clubs who have languished in the EFL, including Wednesday, but the long-term objective will be to reach the Premier League, and that will appeal to investors who could see this as an opportunity to get involved in football.