John Textor in Sheffield Wednesday takeover battle as another billionaire joins the race
Sheffield Wednesday are looking to agree a swift takeover deal after entering administration last week.
The Owls’ financial issue have been well documented in recent months following Dejphon Chansiri’s failed attempts to get on top of the situation.
Sheffield Wednesday’s players weren’t paid in September, making it five of the past seven months where they didn’t receive their wages on time.
During that period, Sheffield Wednesday have also been hit with six embargos, the most recent coming after they were found to have breached the EFL’s financial rules.
John Textor plots Sheffield Wednesday move after Crystal Palace exit
It emerged on 24 October Sheffield Wednesday had been placed into administration, effectively ending Chansiri’s 10-year reign at Hillsborough.
The Thai businessman purchased the Owls for around £40million from Milan Mandaric in 2015.
The administration has resulted in Sheffield Wednesday being deducted 12 points, leaving them rooted to the bottom of the Championship table on -6 points.
Kris Wigfield, who is leading the search for new ownership, has revealed there has been concrete interest from parties look to take over the club.
Former Crystal Palace co-owner John Textor has been linked with a Sheffield Wednesday takeover, but it’s currently unclear whether he’s in a position to agree a deal.
The American billionaire owns majority stakes in French club Lyon, Brazilian first division outfit Botafogo and Belgian side RWD Molenbeek through Eagle Football Holdings.
Textor sold his stake in Crystal Palace to Woody Johnson in July, with the deal believed to be worth close to £190m.
Who is rivalling John Textor to buy Sheffield Wednesday?
Textor isn’t alone in his pursuit of Sheffield Wednesday after multiple parties have been linked with the club.
The Telegraph reported on Tuesday (29 October) John McEvoy in among the leading candidates to buy the Owls.
The newspaper said the club’s administrators are aware of the US-based billionaire’s interest.
McEvoy, who has investments in baseball, ice hockey and music, is understood to have been weighing up a bid to take over Sheffield Wednesday for months.
Henrik Pedersen’s side were beaten 2-1 by Oxford United on 25 October in front of more than 27,000 fans at Hillsborough – the highest attendance of the season.
The Owls are now preparing to take on West Brom at The Hawthorns on Saturday (1 November).
For more Sheffield Wednesday and exclusive news, follow us on Facebook or join our brand new WhatsApp Channel for instant updates to be sent straight to your phone.