Mike Ashley’s prospects of buying Sheffield Wednesday this season appear greater than any other competitor’s.

It has become clear why former Newcastle United owner Mike Ashley is presently dominating the fight to finalize a takeover of Sheffield Wednesday. According to The Guardian, the 61-year-old billionaire has a major advantage in continuing talks with the club’s administrators, Begbies Traynor.

The Championship club was officially thrown into administration on October 24 after ex-owner Dejphon Chansir failed to pay a £1 million tax bill owed to HMRC. Administrators Paul Stanley, Julian Pitts, and Kris Wigfield—a lifelong Wednesday fan—have been tasked with stabilising the club and monitoring the sale process under EFL oversight.

Several investors, including US billionaire John McEvoy and former Crystal Palace investor John Textor, are rumored to be interested. However, Ashley appears to have an advantage due to his financial preparedness and previous relationship with the EFL, which apparently has no concerns about the source of his funds.

Ashley, whose Frasers Group owns retail behemoth Sports Direct, is reportedly contemplating a £10 million proposal to speed up the transaction. The EFL has recommended administrators to keep the club on the open market for at least 28 days, therefore the earliest feasible takeover date is November 21.

According to sources, Ashley has already undertaken due diligence on the club, having learned from his previous mistakes while acquiring Newcastle United in 2007, when he was unaware of problems hidden in the records. While his stint at St James’ Park divided opinion, Ashley is now viewed as the guy to provide much-needed stability and organization to Hillsborough.