Mike Ashley makes bid for Sheffield Wednesday | OneFootball

Former Newcastle United owner Mike Ashley has submitted a £20million offer to buy Sheffield Wednesday, reports The Telegraph.

The bid comes after the Championship club entered administration in October under former owner Dejphon Chansiri, leaving them with a 12-point deduction and struggling at the bottom of the table.

Administrators Begbies Traynor, who have handled previous football takeovers, are evaluating multiple serious bids, including two from American consortiums. A preferred bidder is expected to be named by 5 December, with proof of £50million in funds required to proceed.

Ashley, 61, has not owned a football club since selling Newcastle in 2021 and has previously been linked with Derby County and Reading. Sheffield Wednesday return to Championship action on Wednesday night at Millwall.