Sheffield Wednesday: Takeover Could Bring Crucial Boost to Hillsborough
Captain Barry Bannan says a new owner could provide the much-needed boost as Sheffield Wednesday seeks stability after administration, with two bids in play.
Sheffield Wednesday are at a pivotal moment in their search for new ownership. The club has entered administration and now awaits a potential rescue, with captain Barry Bannan insisting a fresh owner could bring the much-needed boost to Hillsborough.
With two bids still in play, the process could move toward a decision soon. One offer comes from former Newcastle United owner Mike Ashley; the other is a United States-backed consortium led by John McEvoy, along with the Storch family. The total amount to pay creditors and the administrators is reported to be around £35 million. If a bid fails to meet the insolvency threshold, the club could face a 15-point deduction in a future season under EFL rules.
What a takeover could mean for Wednesday
As potential owners circle, Sheffield Wednesday would also need significant upgrades to the club’s facilities and training ground. The North Stand was briefly closed last summer due to safety concerns but has since reopened. Any deal would require formal approval from the English Football League before football operations can resume under new ownership.
Former owner Mike Ashley’s links to football ventures are well known, with his Newcastle United spell marked by financial prudence and occasional controversy among supporters. Newcastle’s sale to Saudi-backed investors later reshaped the club’s finances. Ashley has also been connected with other clubs in need of investment, including Coventry City, where his group briefly owned the stadium.
Current form and squad challenges
Wednesday have faced a difficult campaign, accumulating a total of 18 points in deductions this season—12 for entering administration and six for financial breaches. The EFL confirmed there will be no further sporting sanctions this season. The Owls have won only one Championship game in 20 and sit bottom of the table, 29 points from safety.
Captain Barry Bannan emphasized that the team must start winning and stop making excuses. The squad has been stretched after key departures in the summer, with injuries mounting and several senior players away or sidelined. To bolster numbers, the club has signed two free agents, Liam Cooper and Nathan Redmond, while youth players have been relied upon more than usual.
Manager Henrik Pedersen has noted there are only about eight senior players with Championship experience, forcing the use of U21 and U18 players to fill gaps. Bannan urged the group to stay focused and hopeful that the takeover could bring much-needed reinforcement in the January window.
What happens next
With a decision on the preferred bidder expected soon and the January transfer window approaching, Wednesday fans are hoping new ownership will unlock funds for a late-season push. A swift deal could help stabilize finances and enable targeted squad additions and facilities investment.
Expert comment: Financial analysts say a stable owner could restore balance to the club’s finances and free up investment in players and infrastructure. The exact timeline hinges on the bid review process and EFL clearance.
Short summary
Sheffield Wednesday are hopeful a new owner will bring stability after administration and set the stage for a stronger second half of the season. Two bids remain, with the outcome likely to influence recruitment and long-term planning. The upcoming weeks will be critical as the club awaits a decision and navigates the transfer window.
Key insight: A successful takeover could restore stability and unlock investment for Sheffield Wednesday, but the outcome hinges on EFL approval and on-field performance. BBC Sport
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