New Sheffield Wednesday takeover update emerges with ex-Man City man involved - Owls fans are reacting | OneFootball

The former Manchester City financial advisor is involved with one of the groups pursuing a Sheffield Wednesday takeover

A former financial advisor to Manchester City has confirmed his involvement with one group interested in buying Sheffield Wednesday.

After what seemed like a never-ending period of torment under previous owner Dejphon Chansiri, the Owls are awaiting being taken over after the Thai businessman placed them into administration in late October.

Despite relegation down to League One looking like an almost guaranteed prospect for Wednesday, 11 parties are reportedly interested in becoming the club’s next owner, including the likes of Mike Ashley, John Textor and John McEvoy.

Not much was known about the other groups eyeing up a takeover, but more information has now been revealed by a former financial advisor to Manchester City who is working with one party in particular.

Former Manchester City financial advisor opens up on party interested in Sheffield Wednesday takeover

Stefan Borson, who worked with Manchester City from 2002 to 2007 as a financial advisor, has revealed that he is involved with one of the groups looking to take over Wednesday.

When speaking to talkSPORT, Borson stated that there are a “number of credible players” looking to try and get a deal for the Owls done, but that the main issue will be the cost of transforming Wednesday.

“I’m working with one of the bidders,” stated Borson. “There are a number of credible players around, apparently 11 that have provided proof of funds of £50m and that is a serious process. There is serious interest.”

Besides the reported £30m reserve price of buying the Steel City side, Borson opened up on how both the stadium and squad will need significant investment, whilst admitting that taking Wednesday back to the Premier League “is not going to be a simple journey”.

“The issue is that you can’t just look at the headline price here,” said the financial advisor. “This is a club that has not had a lick of paint for quite some time. By the end of this season it will be in League One, it will have almost no squad and it will have a stadium that needs significant spending.

“The advantages are great - getting out of League One and then putting Sheffield Wednesday back in the Premier League is not going to be a simple journey.”

He ended by revealing that the group he was working with had “deep pockets” but acknowledged that all 11 parties pursuing a takeover also had large resources too.

Sheffield Wednesday supporters react to Stefan Borson’s comments

There was a mixed reaction throughout Sheffield Wednesday’s fanbase after Borson revealed his involvement with one of the parties, especially due to the fact that he had previously worked with Manchester City.

Some fans didn’t want anything to do with him, highlighting the 115 charges Manchester City are currently facing for alleged financial misbehaviour.

“Was he advising Man City financially before or after they got hit with over 100 rule breaks?” questioned one Owls fan.

“Financial advisor to man city?” asked another. “Aren't they under investigation over 125 or so breaches?

“Maybe not the best person to have on your finance team.”

However, others chose to reflect on Borson’s comments in a more positive light, choosing to focus on the fact that parties with deep pockets and a clear plan for the Owls were interested in a takeover.

“5-year plan and deep pockets,” stated one Wednesday fan.

“Love this.”

“Exciting, this is the kind of interest we need,” said another. “Serious money men who know what’s required and isn’t putting them off the purchase.”

Even though there is a mixed reaction to Borson’s involvement in one of the parties pursuing a Sheffield Wednesday takeover, it can only be good news for the club.

To hear that there are numerous groups with deep pockets all battling it out to be in charge of the Owls will be extremely refreshing, especially after spending so long under an owner who seemingly couldn’t care about the club’s well-being.