After they were placed into administration last Friday, Sheffield Wednesday have now received contact from American billionaire John Textor about buying the club.
The Owls knew the inevitable was coming for some time and it speaks volumes that many around the club will be relieved to be in administration rather than under the ownership of Dejphon Chansiri. His decade-long ownership has finally come to an end following a period in which staff and players went unpaid on a number of occasions.
Whilst there may be some light at the end of the tunnel off the pitch, however, Sheffield Wednesday have suffered on it. Henrik Pedersen’s side have been dealt an automatic 12-point deduction which has left them on -6 points and an impossible battle to stay up in the Championship.
Many have had their say on the consequences that they’ve been handed by the EFL, including Gary Lineker. The former Match of the Day host told The Rest is Football podcast: “They have gone into administration, obviously, and hopefully they can sort it all out. But they have got the 12-point penalty and are now on -6.
“I understand why clubs have to suffer repercussions, but I just think it’s like kicking a club when it’s down and at its lowest. We have had this with other clubs, and it just doesn’t sit well. It’s almost like the fans take the punishment.”
Julian Pitts, Kris Wigfield, Paul Stanley and Begbies Traynor have been appointed joint-administrators and are tasked with finding a suitable buyer for the club, with the EFL ready to relax their 21-day insolvency guideline to fast-track any potential sale.
John Textor makes contact with Sheffield Wednesday
According to reporter Alan Myers, Textor has now made contact with Sheffield Wednesday and their administrators about a potential deal to buy the club.
The American billionaire has also been linked with Wolverhampton Wanderers and it’s clear that he’s looking to invest in English football after selling his Crystal Palace shares in the summer.
That said, Sheffield Wednesday should proceed with caution. Having only just ended a toxic relationship with Chansiri, the last thing they need is another difficult ownership.
Textor stole the headlines when he resigned from his leadership position at Lyon after they were relegated to Ligue 2 amid financial problems. Although they have now been reinstated to France’s top flight and Textor remains a shareholder from afar, his day-to-day role received major protest from fans.
“John Textor’s made this club a mess. There’s no other way of putting it. He’s been one of the worst owners, spending money everywhere, sacking managers, hiring the wrong managers.
“I just don’t know how you get out of this. If you’re Lyon, this is a terrible position to be in.” (Sky Sports’ French football expert Julien Laurens when Lyon were initially relegated)
A repeat at Sheffield Wednesday is not guaranteed, but the Owls must ensure that Textor is right for them if they are to add themselves to his portfolio of clubs.
Sheffield Wednesday administrators reveal criteria owners must meet
