Sheffield Wednesday have now reportedly responded to Mike Ashley’s bid to buy the club, with the former Newcastle United man now plotting his next step.

Finance expert reveals extent of interest in Sheffield Wednesday

It’s been a busy month at Hillsborough, with the Owls receiving plenty of takeover interest after entering administration. Setting a soft deadline of December 5, things look destined to accelerate in the coming week in the hope that Sheffield Wednesday finally enter a new era and put Dejphon Chansiri behind them for good.

Football finance expert Stefan Borson recently revealed that there are as many as 11 bidders to buy Sheffield Wednesday, telling talkSPORT: “I’m working with one of the bidders. There are a number of bidders in play, a number of credible players around.

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“Apparently, there’s 11 that have given proof of funds for £50m of liquid assets. That is a serious process, and there is serious interest. The issue is actually that you can’t just look at the headline price here. This is a club that’s not had a lick of paint for quite some time and by the end of this season it will be in League One.

“It will have almost no squad and it will have a stadium that needs significant spending. So anybody that comes in is going to have to have deep pockets. I think the people that are circling do have deep pockets, but it is not going to be a cheap deal for anybody. The challenges are great.

Among those 11 bidders could be John McEvoy, who was one of the first names linked with a move to buy the club, and former Newcastle man Ashley. The 61-year-old is seemingly keen on a return to English football and has already received a response from Wednesday.

Mike Ashley submits bid to buy Sheffield Wednesday

As reported by Sky Sports, Ashley has now submitted a £20m bid to buy Sheffield Wednesday, who have turned that offer down. The former Newcastle owner is now plotting his next step and could yet return with an improved second offer, however.

If he is to return with a second offer, then Ashley will likely have to at least match other bids in the region of £30m to stand a chance of completing a takeover. Whilst it isn’t as simple as accepting the highest bid for the Owls, they won’t sell the club at a cut-price in the face of so much interest.

Of course, if Ashley does match other bids then he could become one of the better options available. He has experience in English football and, financially speaking, he stabilised Newcastle during his time at the club.

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