California billionaire eyes Sheffield Wednesday acquisition
A California-based billionaire with investments spanning professional sports and entertainment has emerged as a frontrunner to purchase Sheffield Wednesday following the club’s descent into administration, reports BritPanorama.
John McEvoy, who holds minority ownership stakes in ice hockey’s Nashville Predators and baseball’s Colorado Rockies, is reportedly seeking insights from Jon McClure, the frontman of Sheffield band Reverend and the Makers, regarding his bid for the Championship club. McEvoy’s investment firm has ties to Various Artists, the talent management company representing the band.
As McEvoy deliberates his approach, it has been suggested that he has been monitoring developments at Hillsborough for several months. Administrators have indicated that there are four or five credible parties interested in the club and that McEvoy is among them. His experience in professional franchise ownership, however, stems primarily from North American leagues rather than the intricacies of English football.
Sheffield Wednesday officially entered administration last Friday, marking the end of Dejphon Chansiri’s troubled ownership, which resulted in an immediate 12-point deduction from the EFL. This penalty leaves the club at the bottom of the Championship table, with a negative six points.
McClure, an avid supporter of the club, took to social media to express relief over the conclusion of Chansiri’s ownership, framing the potential change as a “huge opportunity” for suitable investors. “The club needed a change,” he remarked, reflecting the feelings of many fans who have endured years of financial instability under previous management.
Joint administrators Julian Pitts, Kris Wigfield, and Paul Stanley have outlined specific requirements for potential buyers. Wigfield noted, “As always, you get a lot of interested parties that probably aren’t going to meet the criteria, but within the numerous inquiries we’ve had, we certainly think that there are already four or five interested parties that look like the real deal.” Candidates will need to prove adequate funding to sustain the club’s operations over several years and must also pass the EFL’s fit-and-proper-persons test before entering serious negotiations.
As the situation develops, the club and its supporters remain hopeful for a transformative leadership that can steer Sheffield Wednesday back to stability and success in the Championship, resonating with a faithful fan base eager for a turnaround.
