A US billionaire who already owns two sports teams and a record company has emerged as the frontrunner to take over financially stricken Sheffield Wednesday.

John McEvoy, who owns minority stakes in Major League Baseball’s Colorado Rockies and the NHL’s Nashville Predators, is rumoured to be interested in buying Wednesday according to the Telegraph’s Mike McGrath.

Despite making his money in mobile telecommunications McEvoy also manages a number of music artist, including Sheffield’s very own The Reverend and The Makers. Jon McClure, the band’s frontman and diehard Owls fan, is believed to have been consulted during early discussions.

The interest comes after Sheffield Wednesday filed for administration on Friday following months of financial turmoil at the hands of nightmare former owner Dejphon Chansiri. The Owls have since been handed a 12 point deduction by the EFL.

Kris Wigfield, one of the administrators who is currently running the club, told the BBC on Friday that there has been concrete interest from potential bidders. He said: “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.”

Former Newcastle owner Mike Ashley is also believed to be monitering the situation at Hillsborough, alongside John Textor, who used to own Crystal Palace.

Many celebrities and politicians have used their platforms to voice support for Sheffield Wednesday during this difficult time. UK Prime Minister Kier Starmer offered his encouragement to the Owls during the PMQs on Wednesday, saying: “I also want to pay tribute to the staff, the fans and the players at Sheffield Wednesday at this difficult time.

“We’ve delivered the football regulator to stand up for fans and make sure clubs have fit and proper owners.”