How much money Mike Ashley or John Textor would need to show in proof of funds to seal Sheffield Wednesday takeover | OneFootball

Sheffield Wednesday's administrators are demanding £50 million in proof of funds from interested buyers.

The future of Sheffield Wednesday has been the biggest topic across the EFL over the last week.

Following years of mismanagement from owner Dejphon Chansiri, the Owls were placed into administration last Friday, and the mood around the club has changed drastically.

Wednesday fans packed out Hillsborough for their clash against Oxford on Saturday, and spent over £500,000 on tickets and in the club's megastore. It has also since been reported that sufficient money has been raised to ensure that all club staff are paid for October.

Administrator Kris Wigfield told the BBC this week that there are "four or five serious bids", and it has been confirmed that American businessman John Textor carries an interest in the club, after his bid to purchase Premier League side Wolverhampton Wanderers was rejected.

The Daily Mail reports that Mike Ashley is also interested and is carrying out the next steps to launch an official bid for the South Yorkshire club.

One of the crucial parts of the upcoming sales process is the proof of funds from any prospective buyer, with a figure now being confirmed.

Sheffield Wednesday's proof of funds figure

As per recent reports from The Telegraph, Wednesday's administrators are demanding £50 million in proof of funds from those carrying an interest in purchasing the club.

The Telegraph say that the demand is being relayed to interested parties, with the figure in place to 'flush out perceived time-wasters', though there are fears among bidders that the price could rise by tens of millions.

The 2025 Sunday Times Rich List states that Mike Ashley's current net worth is estimated to be £3.12 billion, while John Textor's value was being described as anything from "the range of $75 million to $100 million" to £3.4 billion.

Textor recently sold his share in Crystal Palace for a reported £190 million, and his interest in Wednesday, Wolves, and several other Championship clubs indicates that he is ready to step back into English football involvement.

Fans will be wary of Textor and Ashley - but they would get out of trouble

Both Ashley and Textor are no strangers to controversy in English football, and their reputations could impact the fan view on a potential takeover.

Ashley remains one of the most polarising figures in the nation's game. His 14-year spell as Newcastle United owner was marked by fan protests, criticism over a lack of ambition, and continuous disputes with the fanbase.

Textor has built a portfolio of football clubs containing sides from across the globe. Lyon, Botafogo and RWD Molenbeek all sit as part of his Eagle Football group, while he held a stake in Crystal Palace until earlier this year. The main criticisms surrounding his name come from his multi-club model - something that has come under particular scrutiny in France and Brazil.

However, Ashley in particular has a proven track record of keeping a club afloat. His time in the North East ended up marred by a lack of real progression; however, Newcastle never quite found themselves in trouble under his leadership, while his ties with Sports Direct and subsequent renaming of St James' Park ruined any chance at relations with fans.

If both Ashley and Textor are considered legitimate and genuine by Wednesday's administrators, they should find themselves with no problem getting through the door, should either be seen as the best option for Sheffield Wednesday moving forward.