FORMER Newcastle United owner Mike Ashley is interested in buying Sheffield Wednesday.
The Owls have endured a turbulent start to the season, with just seven points picked up from their opening 13 games.
To make matters even worse, the Steel City club entered administration ten days ago and were later docked 12 points.
It means that Wednesday are now up for sale following the end of Dejphon Chansiri’s ten-year tenure as owner, and Ashley, 61, has emerged as one of the frontrunners to take over, the Guardian has reported.
The sale is being managed by administrator Begbies Traynor, who have laid out a framework for any potential buyer to be considered.
Such a requirement is that they prove to have access to £50million, something Ashley, who is worth an estimated £3.25bn, has reportedly done.
Although the sale is an open auction, Ashley has established himself as a frontrunner and is expected to make an opening bid of £10m.
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Begbies Administrator Kris Wigfield said: “There are four or five interested parties that look like the real deal.
“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.”
The Guardian have claimed that one of the rival bidders is American billionaire John McEvoy, who holds stakes with Nashville Predators of the National Hockey League and also Baseball’s Colorado Rockies.
There is also reported interest from another American group, as well as at least one British group.
Wednesday have failed to pay players and staff on time for five of the last seven months, a situation that other EFL clubs know all too well.
That includes Derby and Reading, who Ashley had held talks with in recent years when they were facing similar financial straits amid points deductions.
Begbies previously oversaw the sales of Bolton and Wigan, both of whom also entered administration.
Ashley sold Newcastle to Saudi Arabia’s Public Investment Fund four years ago, and hasn’t owned a club since.
Should he acquire the assets of Wednesday, he enters a tough situation.
The Owls are currently rock bottom of the Championship, 13 points adrift of safety, and their next fixture is at home to second-bottom Norwich City on Wednesday night at Hillsborough.
