Bates, who earlier this week announced he was resigning from the London club he had been with for 22-years, is known to want to stay in football and has had extensive discussions with Sheffield Wednesday chiefs in recent weeks.
He has, however, denied previously that he has any plans of mounting a takeover for the club.
Speaking on the BBC, former Wednesday board member and a friend of Bates, Joe Ashton, confirmed Bates was interested in the Football League club.
Said Ashton: “He is definitely, definitely interested in Wednesday.
"He wants to sound out the directors. He wants to speak to the fans and get their feedback."
