Mike Ashley eyeing Sheffield Wednesday takeover to end Dejphon Chansiri era | OneFootball

Mike Ashley's name has entered the frame for becoming the next Owls custodian

Former Newcastle United owner Mike Ashley has emerged as a potential candidate to take over from Dejphon Chansiri at the currently cash-strapped Sheffield Wednesday.

The Owls' current situation has been well-publicised for several months, with Chansiri's tumultuous reign now reaching new lows in the eyes of supporters who continue to protest against his controversial day-to-day running of the club.

After purchasing the Steel City club for £30m from the late Milan Mandaric, the Thai-based chairman's status with those at Hillsborough has decreased beyond repair after seeing the club drastically fall from its position as genuine promotion contenders in the Championship between 2015 and 2017.

Since then, the purse strings have well and truly been tightened, and after one points deduction following a breach of spending regulations in 2020 - which ultimately led to relegation into League One - Wednesday are set to face another in the coming weeks as well as potential administration, whilst Chansiri continues to hunt further investment in order to pay off outstanding sums regarding loans and the club's annual wage bill.

On the pitch, current head coach Henrik Pedersen has been left with a threadbare squad as a result of several EFL sanctions imposed on the club throughout a chaotic pre-season which saw a mass exodus of players and former boss, Danny Rohl.

Whilst the South Yorkshire outfit currently find themselves 23rd in the second tier after nine games - ironically three points in front of their rock-bottom cross-city rivals, Sheffield United - talk of a potential takeover has rumbled on, with the previously controversial Ashley now seeing his name thrown into the equation among other interested parties.

Mike Ashley 'potentially' interested in buying Sheffield Wednesday from Dejphon Chansiri

It had been suggested for some time that Chansiri was holding out for £100m in order to relinquish his control. However, that figure could have dropped to £70m amid recent reports that discussions with ex-Crystal Palace and Lyon stakeholder, John Textor, had hit a snag.

This comes at a time when the Wednesday owner is reportedly putting takeover talks with interested parties on the backburner as he looks to seek further investment to pay off the aforementioned funds owed for varying reasons ahead of a potential HMRC tax bill which could begin a winding-up process.

The Owls' crisis has since deepened as, with senior players and staff not receiving their monthly wages for September - the fifth instance in six months - first-team coach, Andy Parslow, confirmed his departure via LinkedIn, stating: "my family will always be my priority, and I have taken this decision with their best interests at the forefront."

The aforementioned Textor has since revealed the complications he has gone through in the negotiation process with Chansiri for several reasons, which has only increased worries amongst supporters.

Whilst reflecting on Textor's comments, local reporter, Alan Biggs, has stated that one of the other interested parties in a takeover is Ashley, who oversaw matters at St James' Park between May 2007 and October 2021, when the current ownership group - Saudi Arabia's Public Investment Fund - completed a £300m takeover for the now-UEFA Champions League regulars.

Mike Ashley hasn't been far away from controversy amid Sheffield Wednesday takeover links

During his 14-year spell in charge of the North East club, Ashley grew to be an extremely unpopular figure, as Newcastle's Premier League status was relinquished in two separate spells.

After taking over the club for £134m from Freddy Shepherd and Sir John Hall, Ashley was unaware that the Magpies were £100m in the red, and two years later, the club were relegated to the second tier for the first time since 1993, before suffering the same fate seven years later.

In 2011, Ashley renamed the club's historic stadium to the 'Sports Direct Arena' in a bid to generate stronger revenue streams, much to the anger of locals, and this decision was reverted in 2012.

This isn't the only stadium-related saga Ashley has been involved in, as he acquired control of Coventry City's CBS Arena in November 2022 ahead of Sky Blues owner Doug King, serving the club an eviction notice just weeks later.

However, with his control of the CV6-based stadium now gone after King eventually purchased the land on behalf of City for nearly £40m on August 23rd, Ashley is seemingly back on the horse in terms of looking for his next sports-related investment.