Mike Ashley, the former Newcastle United owner, has tabled a bid to buy Championship club Sheffield Wednesday.
Ashley is emerging as a serious contender to acquire the stricken club after notifying Wednesday’s administrators of an offer of around £20m on Tuesday night.
Wednesday are up for sale and attracting interest from all over the globe, with two American consortiums understood to also be two very credible bidders. Administrators Begbies Traynor have advised all interested parties to provide £50m in evidence of funds to gain access to the data room and proceed with due diligence. They are keen to name a preferred bidder by December 5.
Ashley has been considering his options since the club went into administration last month and has now formalised his interest with an offer. The owner of Sports Direct, Ashley has also displayed previous interest in buying Derby County, Coventry City and Reading.
Ashley was Newcastle’s owner for 14 years before selling the club for £300m in October 2021 to a consortium including Saudi Arabia’s Public Investment Fund.
Telegraph Sport reported on Tuesday how Sheffield United’s owners had also made a shock inquiry in the sale of their rivals. It is understood that representatives for COH Sports were among 80 parties to make initial calls to Wednesday’s administrators over the past month or so.
Telegraph Sport learnt of the approach after reports that one interested party had suggested a merger between the two clubs. Details of what was being proposed by the party claiming to represent COH Sports are unclear, but the prospect of rival clubs belonging to the same stable and competing in the same competition can be all but ruled out. Dealmaking sources have subsequently played down the likelihood of any further inquiries from COH.
Wednesday are currently bottom of the Championship and were beaten heavily in the Sheffield derby by United on Sunday.
