Fresh Sheffield Wednesday takeover twist emerges - it involves American billionaire John McEvoy | OneFootball

The latest twist in Wednesday's long-standing takeover saga has emerged

A fresh twist has emerged in the race to acquire control of Sheffield Wednesday from the administrative group, Begbies Traynor.

According to a report from Mike Keegan of the Daily Mail on Friday afternoon, two of the American-based bidding parties interested in securing a takeover deal have submitted a joint-bid, which includes the high-profile billionaire, John McEvoy.

The Owls have been on the hunt for fresh investment for several weeks and months now, stretching further back than the spring of 2025 when the first serious murmerings of discontent throughout the final period of Dejphon Chansiri's controversial ownership tenure.

After being placed into administration by the Thai-based businessman on Friday, October 24th, Henrik Pedersen's already challenging task of preserving the Steel City outfit's Championship status for a fourth successive season after gaining promotion via the League One play-offs was made even worse by an automatic and expected 12-point deduction.

However, whilst the trio of Paul Stanley, Julian Pitts and Kris Wigfield have continued to liaise with several hopeful bidders, the South Yorkshire club's fall back into the third-tier for the first time in three years was effectively rubber-stamped for good at the turn of the December, as they were hit with a further six-point deduction after several breaches of EFL regulations regarding delayed wage payments to players, management staff and general staff, as well as further non-payments to His Majesty's Revenue and Customs.

Throughout recent times, a plethora of names, including former Newcastle United chairman, Mike Ashley and ex-Crystal Palace stakeholder plus current Botafogo owner, John Textor, have been some of the most well-known businessman interested in taking control of the Championship's bottom club alongside McEvoy, whose interest in a bid first surfaced in late October.

And, with it being widely reported that there is no clear leader in the race to buy the club, the California native has looked for support in order to speed up the process.

John McEvoy agrees joint Sheffield Wednesday takeover bid in fresh twist

As previously mentioned, McEvoy emerged as a potential buyer for the Owls in late October, just days after the Hillsborough club entered administration, effectively bringing Chansiri's chaotic spell as chairman to a close.

The American's name came to the fore during a similar time in which it was reported that Begbies Traynor were demanding at least £50m in proof of funds as they set an initial deadline of Friday, November 21st when it came to soft bids, with several parties throwing their hats into the ring.

McEvoy does have examples of prior involvement within sports clubs across the Atlantic, with his portfolio including the Nashville Predators and Colorado Rockies of the National Hockey League and Major League Baseball respectively.

The businessman does have a well-documented connection with the city of Sheffield though. At the time of his initial interest being reported, it was revealed that McEvoy invested a minority stake in talent agency, Various Artists Management, which oversees matters of, unsurprisingly, many bands and artists in the world of music, including Reverend and the Makers, whose lead singer, Jon McClure, is a lifelong season-ticket holder in S6.

It has now been stated within the Daily Mail's aforementioned report that the billionaire has joined forces with the Storch family, who were previously linked with a potential takeover of League One side, Plymouth Argyle, alongside former Tottenham Hotspur, Real Madrid and Wales sensation, Gareth Bale.

Such developments have come after reports which have claimed that as much as £30m could secure control of the club as Begbies Traynor have delayed their initial deadline for exclusivity into the coming days after an initial date of Friday, December 5th, was set.

Mike Ashley has seen a £20m official bid knocked back, although the Frasers Group owner very much remains heavily linked with a takeover of his own at this stage, whilst talkSPORT pundit, Simon Jordan, recently revealed why he pulled out of a bid involving Sheffield-born Ryan Howsam.

At this point, it is clear that Wednesdayites have all eyes on takeover developments, with their fates on the pitch effectively decided, despite there being 28 games of the season remaining.

The lack of a clear front-runner within proceedings has certainly added some form of jeopardy to the process, but a joint bid from McEvoy and the Storch family will be a relief, and could be the decisive decision depending on whether Begbies Traynor are satisfied.

It would also be a major boost for Pedersen and his players if the takeover was to be concluded ahead of the winter transfer window, as the Owls then have a five-month period to reset ahead of next season.