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Former Newcastle owner Mike Ashley is reportedly interested in taking over at crisis-hit Sheffield Wednesday . The Owls went into administration last week because the club owe £1million to HMRC and the race is now on to find a new owner. Thai businessman Dejphon Chansiri will be replaced, with the administrators hoping to have new ownership in place by the end of the year. Wednesday sit bottom of the Championship, 16 points from safety, after being hit with a 12-point deduction by the EFL for their many financial irregularities. It means that any prospective owner is likely to be investing in a soon-to-be League One club. But that hasn’t stopped many from coming forward, with joint administrator Kris Wigfield revealing on Monday that there are “four or five” serious bidders. Any interested party would have to prove they have the funds to make the club viable and be able to pass the EFL’s fit and proper owners test. The Daily Mail reports that Ashley is weighing up his options after becoming aware of the possibility of taking over at Wednesday. The 61-year-old businessman owned Newcastle between 2007 and 2021 and specialises in buying up distressed assets. His time with the Magpies was hugely controversial, with the supporters protesting against his ownership repeatedly due to a perceived lack of investment. Ashley sold the club to the Saudi Arabian Public Investment Fund for £300million four years ago and Forbes estimates his wealth to be at $5.7bn (£4.29bn), although the Sunday Times put the figure at £3.12bn earlier this year. He made his money by founding retailer Sports Direct, which later became Frasers Group, where he remains a director. Chansiri paid £30m for Wednesday back in 2015, but it remains unclear how much they will fetch this time around, given the amount of debt. However, Wigfield is confident that there won’t be a shortage of buyers. Wigfield told BBC 5 Live's Wake Up to Money: "As always, you get a lot of interested parties that probably aren't going to meet the criteria, but within the numerous inquiries we've had, we certainly think that there are already four or five interested parties that look like the real deal. "There are two criteria that new owners basically need to satisfy to then open dialogue and there to be an opportunity where they can make an offer. The first thing is they need to show the administrators that they could make the football club viable. So they've got to show that they've got sufficient funds to be able to fund it for the next few years. "And secondly, we have to be satisfied that they will pass the EFL fit and proper persons test, and if they can satisfy both of those, then we'll start talking to them seriously." He added: "Due to EFL rules, we have to market the club for 28 days," he said. "So it'll be at least 28 days before we're getting close to a preferred-bidder status. So 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." Join our new WhatsApp community and receive your daily dose of Mirror Football content. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. If you're curious, you can read our Privacy Notice.
