Feature: Beyond our Ken Bates 'gagged' by Chelsea

Owls chairman Dave Allen said Bates had made an enquiry but the Blues chief has claimed he just wanted to give the club financial advice.

"I was asked to give advice. Chelsea are linked with buying every player so I'm linked with every club," Bates told the London Evening Standard.

"I was not asked to put any offer in writing, that is just not true."

He added: "I said I would give them advice to help [ex-Sheff Wed chairman] David Richards and I spoke with the board.

"I was happy to give advice but before I could do that, I asked if I could see the books because I needed to know what the exact situation was at the club.

Bates would have to demonstrate he'd got a considerable sum of money to reduce the borrowings and improve the side Sheff Wed chairman Dave Allen

"When the figures did not arrive I was then told that they could not release them."

Earlier, Allen had told BBC Radio Sheffield that if the right offer came in for the club from Bates, he would have to sell with the club nearly £24m in debt.

"I bank referenced him to see if he'd got the money and he appears to have some," said Allen.

"I've made it quite clear that if he wants to come in and take over he's got to take the director's loans out which are £4.5m.

"He'd then have to satisfy the bank that he's the right man to continue with the job.

"Add to which he'd have to demonstrate that he'd got a considerable sum of money to reduce the borrowings and also to go out and improve the side.

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"If the offer was right for Sheffield Wednesday he would have to give me and the club a written undertaking that he wouldn't put the club into administration for a period of three years from when I've gone."

Bates, 72, bought Chelsea 22 years ago for just £1 before agreeing to sell it to billionaire Russian businessman Roman Abramovich for £17m last year.

But following the arrival of Peter Kenyon from Manchester United, Bates' power at Stamford Bridge appears to be waning.