‘One of the best UK entrepreneurs’ speaks out amid £50m Sheffield Wednesday takeover move
Businessman and entrepreneur Ryan Howsam has revealed why he and ex-Crystal Palace owner Simon Jordan are not set to go ahead with a bid to buy Sheffield Wednesday.
Sheffield Wednesday are currently up for sale after controversial owner Dejphon Chansiri placed the club into administration in October.
Their administrators have been fielding offers from interested parties amid renewed optimism for the future, with ex-Newcastle owner Mike Ashley among those who have submitted a bid to take over.
Former Crystal Palace chief Simon Jordan recently revealed that he had been part of a group which had provided a £50million proof of funds ahead of a formal offer to the club, before pulling out of a potential approach.
He had entered a partnership with Sheffield-born businessman Ryan Howsam, who has now spoke publicly about why their bid did not materialise.
Ryan Howsam admits that Sheffield Wednesday cost was out of his and Simon Jordan’s price range
Jordan took to X to praise Howsam as “one of the best UK entrepreneurs” and a “fabulous businessman” on Wednesday (3 October) following news that their bid to take over at Hillsborough is not set to advance any further.
The ex-Palace chairman had previously admitted that a big reason for him personally shying away from a formal offer was around the money owed to Chansiri, with a payment of around £15m needed to avoid another EFL sanction regarding not paying him off for the assets he owns at Hillsborough.
Howsam, who is an insurance entrepreneur from Sheffield, has now spoken to local outlet The Star about why their approach proved fruitless due to that reason, despite proving proof of funds to administators.
He said: “Given I’m from Sheffield, knowing a bit about Wednesday and its history, I thought it would be a really good opportunity to really build out in a different way.
“I asked Simon’s opinion and he was interested, so we decided to take a look at it…we were thinking of a lower bid than has been touted.
“When you put the money owed to Chansiri together with some of the secured creditors, there’s the money that needs to be spent on the stadium. We did try to speak to the holders of the stadium (to see if a deal could be struck) but they wouldn’t speak with us.
“With all the football creditors, you’re at the £30m mark to buy the club, then it’s about what it would cost to get it to a level playing field. Ultimately you’ve got to get it to the Premier League to make any money and in a heartbeat you could go through another £100m.
“So it was a tough one, but we pulled back. We had a good look at the financials and we thought it might be gettable at an attractive price. I thought if we could get the club for perhaps a discount of what it was worth and then put that money into rebuilding it, that would feel like a good investment.”
Sheffield United fans are loving Wednesday’s downfall amid new setback
Wednesday’s financial struggles have left Henrik Pedersen with a depleted squad, and they have long seemed destined for relegation regardless of points deductions after picking up just one win all season so far.
After being handed a 12-point deduction following administration, their drop into League One has now been all but confirmed after the EFL handed them a further six-point deduction on Monday (1 December) for more previous late payments.
Sheffield United fans mocked Wednesday after their latest setback, just weeks after they earned bragging rights with a 3-0 win Steel City derby win at Hillsborough.
The EFL’s statement confirmed that they are “not seeking any further points deductions” from Wednesday’s already diminished total, which will be reassuring news for all involved with the club as they aim to bounce back next season under new owners who could take over very soon.