Charlie Methven ‘to re-enter’ Sheffield Wednesday takeover race as process accelerates | OneFootball

The Sheffield Star says a consortium involving former Sunderland chief executive Charlie Methven has renewed interest in a takeover of Sheffield Wednesday amid an accelerated process at the Championship club.

The outlet reports the Methven-led group took part early in the initial process but did not reach later stages, when three bidders advanced and administrators Begbies Traynor named a James Bord-led consortium as preferred bidder on Christmas Eve. That agreement collapsed.

After the breakdown, Begbies Traynor began an accelerated search for a new preferred bidder. The Star adds that the Storch Group and Mike Ashley have resumed discussions following significant pre-Christmas involvement.

A source linked to the Methven-backed bid has suggested to The Star that time constraints could hinder full due diligence, raising doubts over lodging a fully costed, competitive offer.

The Star says administrators hoped to receive fresh bids this week. BBC Sheffield reports that, alongside Ashley and Storch, two further unnamed parties are in the frame, one appearing to be the Methven-linked consortium.

Methven led Sunderland from May 2018 to December 2019 and later served as Charlton Athletic chief executive. His Wearside stint drew criticism after a 2018 radio interview, comments he later called ill chosen. In January he became a non-executive director and strategic adviser at Walton & Hersham.

Source: Sunderland Echo