A billionaire bidder who was considering buying the club has reportedly made the decision to complete the takeover of Sheffield Wednesday, as the original deadline approaches.
Sheffield Wednesday close to original deadline
Whether optimistic or not, Sheffield Wednesday joint administrator Kris Wigfield initially set a soft deadline of December 5 to find a preferred bidder for the club. However, that’s only a day away and it seems unlikely that the owls will have their answer in the next 24 hours.
Instead, the week was frustrating. The club have suffered a further six-point deduction thanks to the lingering consequences of Dejphon Chansiri’s ownership and already face relegation from the Championship and a League One campaign next season.
After a decision that only adds salt to their wounds, Wednesday hopes to see some progress regarding their takeover as soon as possible.
On this subject, several rumors have emerged regarding a number of interested candidates and a report even claimed earlier this week that some parties could choose to present a joint candidacy.
It would be a good move to match the Owls’ £30m valuation, but it remains to be seen whether this move is deemed acceptable by Begbies Traynor.
Meanwhile, reports have also claimed that Mike Ashley has already had a bid rejected for the club, having fallen below Sheffield Wednesday’s valuation. The former Newcastle United owner is among the interested bidders, although he is yet to match other bidders.
However, the same cannot be said for Anders Holch Povlsen, who dealt a frustrating blow to Hillsborough with his latest verdict on buying the club.
Povlsen makes Sheffield Wednesday takeover decision
According to the Danish media Tipsbladet, relayed by The Star, Povlsen is not one of the final candidates to buy Sheffield Wednesday. The Dane may have had a look at the club but decided not to put his name in the hat ahead of the Owls’ crucial decision.
For those in Hillsborough, his interest would certainly have been welcome. Povlsen already owns Midtjylland and a Forbes profile claims his net worth is estimated at $11.3 billion (£8 billion) in 2022.
Simon Jordan reveals Sheffield Wednesday ‘consortium’ as next shared takeover step
The Owls have set a soft deadline of December 5.
The 53-year-old inherited a majority stake in ASOS and is believed to be the UK’s largest private landowner thanks to his lands in the Scottish Highlands. To say that money is not an issue would therefore be an understatement.
Alas, it wasn’t just his money that made Povlsen an attractive buyout candidate before he decided against it. The Dane also has experience in the world of football, which other candidates do not have. In many ways he was the right man for the job, but Wednesday must now look elsewhere.
Sheffield Wednesday candidates now consider shock move to complete takeover
