John Textor launches a £400 million takeover proposal amid Sheffield Wednesday links.

American businessman John Textor, who has been connected with a Sheffield Wednesday acquisition for months, has reportedly made a bid for a Premier League team.

On Saturday, Hillsborough hosted a season-high crowd of nearly 27,000 to celebrate Dejphon Chansiri’s departure from Sheffield Wednesday. The club’s new administrators had urged fans to throng the stadium, and 9,000 additional tickets for the game were sold in the preceding 24 hours.

However, the question of where the club’s struggles will go remains unanswered. In administration, the club will be sold alongside Hillsborough, with a Company Voluntary Arrangement in place to pay off their unsecured debts. HMRC filed a winding-up suit against the club, and entering administration halts any outstanding litigation.

While the identity of the club’s new owners is unknown, one name that has been regularly associated with Sheffield Wednesday this year is American businessman John Textor. Textor sold his Crystal Palace shares over the summer and is said to be looking for another English club to add to his worldwide portfolio.

John Textor has bid £400 million for Wolverhampton Wanderers.

However, it was claimed this morning that Textor’s interest had shifted elsewhere. Journalist Matt Slater of The Athletic reported this morning that Textor has launched a formal bid of £400 million to buy Premier League club Wolverhampton Wanderers.

Textor, according to sources, “has made an offer of $200million in cash and $350million in shares in a rebooted version of his multi-club group to Wolverhampton Wanderers’ owner Fosun Group, the Chinese conglomerate that has owned Wolves since 2016.”

He also discusses many of the difficulties of Textor’s Eagle Football Holdings group, which already includes Brazilian giants Botafogo, Belgian club RWD Molenbeek, and French club Olympique Lyonnais, as well as the several legal fights that are now underway.

Slater also adds that “if Textor is going to buy an English club again, it is more likely to be a Championship side… as they are cheaper and more suited to his multi-club approach,” and mentions that he may also be interested in Championship clubs other than Sheffield Wednesday, such as Charlton Athletic, Queens Park Rangers, Derby County, and Watford.

Textor’s Wolves proposal highlights the financial difference between the Premier League and the EFL.

Sheffield Wednesday’s administration will result in the sale of the club, and there will be interested purchasers. Anyone investing in Hillsborough would be purchasing a team with enormous potential, the largest stadium in the EFL (though one that requires significant refurbishment), and nearly 160 years of history.

Matt Slater has clearly expressed misgivings about Textor’s offer for Wolves. He writes that this is “not just another news story — like an iceberg or a swan, there is a lot going on below the surface.”

But it’s evident that, despite his current legal battles, Textor wants to add another English team to his portfolio, and the scale of his bid for Wolves underlines how important a Premier League status is to a club’s value. Wolves are now at the bottom of the Premier League, with only two points from their first nine games of the season. Relegation is not guaranteed, but there have been few indications at Molineux this season that they will not finish the season in the Championship.

However, a £400 million proposal for Wolves is several times the amount required to purchase Sheffield Wednesday. Dejphon Chansiri’s £100 million valuation of them was widely criticized, but even that figure is only a fraction of what Textor is apparently willing to spend for Wolves.

Under the hood, however, the distance narrows. Wolves are in the Premier League for the time being, and even if they are relegated, they are assured at least three years’ worth of parachute payments, but Sheffield Wednesday’s television earnings for 2025-26 will not exceed £12 million. Molineux is a contemporary, Premier League-ready stadium, but Hillsborough will require a significant investment.

However, Textor’s links to Wolves serve as a reminder that the landscape for buying and selling football clubs can change quickly, and given the legal battles Textor is currently fighting with Eagle Football Holdings, Wednesday fans may breathe a sigh of relief if his attention is diverted elsewhere.