Former Newcastle United owner Mike Ashley has once again been linked with a potential return to football ownership — this time as a possible buyer for Sheffield Wednesday.
According to journalist Alan Biggs, Ashley is among a group of interested parties monitoring the situation at Hillsborough, alongside local businessman and lifelong Owls fan David Richards. The speculation comes amid reports that John Textor, formerly of Crystal Palace, has also held talks with current owner Dejphon Chansiri over a potential £70 million deal, though no agreement has been reached.
Ashley’s name back in the frame
Sources close to the situation told Football League World that Ashley’s name appearing in connection with Wednesday “isn’t surprising,” given his track record of acquiring distressed football clubs and businesses. The South Yorkshire outfit, currently embroiled in financial turmoil under Chansiri’s ownership, have seen wages paid late multiple times this year and now face growing pressure from both fans and unions for a change at the top.
“Anybody is better than Chansiri”
FLW’s Sheffield Wednesday fan pundit Patrick McKenna summed up the mood among the fanbase with brutal honesty:
“The basic facts are that anybody is better than Dejphon Chansiri,” McKenna said. “We’re at a point where, if he stays in charge, Sheffield Wednesday might not survive as a football club.”
While Ashley is a divisive figure in English football — particularly after his 14-year reign at Newcastle United, which ended in 2021 — some Wednesday fans believe even his pragmatic, cost-conscious approach would be an improvement on the current regime.
Ashley’s record and financial approach
Ashley purchased Newcastle in 2007 for £134 million, unaware of the club’s similar level of debt at the time. Though his ownership stabilized the finances, it was marred by supporter discontent over limited spending, managerial upheavals, and unpopular branding decisions — including renaming St James’ Park after his retail empire, Sports Direct.
Despite that history, McKenna insists he would still welcome Ashley to Hillsborough:
“He’s not the dream owner who’ll throw money around like the Wrexham or Birmingham investors,” he admitted. “But business-wise, he’s miles ahead of Chansiri. If he came in, he’d at least run us properly.”
Short-term fix or long-term vision?
Even supporters who would cautiously back Ashley acknowledge he might view Wednesday as a short-term investment, not a lifelong project. McKenna concedes as much:
“It might feel like jumping from the frying pan into the fire, but I don’t think that’s fair. Ashley probably wouldn’t see us as a long-term project — he’d steady the ship, improve the business side, and maybe sell us on once we’re stable.”
A familiar pattern
This isn’t the first time Ashley has been linked with a struggling English club. In 2022, he reportedly re-engaged Derby County’s administrators when a previous takeover bid stalled, keen to strike a deal for a club in distress. That experience — coupled with Wednesday’s plummeting valuation — makes the Owls a plausible target for the billionaire businessman.
McKenna believes that logic checks out:
“It’s not shocking that someone like Ashley might be circling while our value keeps dropping. We’re in no position to turn down serious buyers — and like it or not, he’d be an upgrade on Chansiri.”
Wednesday at a crossroads
For now, Sheffield Wednesday remain in limbo. Chansiri’s ownership has left the club financially crippled, morale low, and supporters desperate for change. Whether Mike Ashley, John Textor, or another investor steps in, the message from the terraces is clear — the Chansiri era must end before it drags the club further into crisis.
As McKenna put it:
“We just need someone to rescue this club and give us a future. If that person happens to be Mike Ashley, then so be it.”