Mike Ashley Steps Up Interest in Sheffield Wednesday Following Takeover Collapse
Former Newcastle United owner Mike Ashley has intensified his pursuit of acquiring Sheffield Wednesday, with his representatives scheduled to meet the club's administrators on Thursday. This development comes in the wake of the abrupt withdrawal of a preferred bidder from a proposed £47.8 million takeover, casting the club into deeper uncertainty as it faces relegation from the Sky Bet Championship.
Consortium Withdrawal and Financial Fallout
The James Bord-led consortium, which had been granted exclusivity by administrators Begbies Traynor on Christmas Eve, announced its withdrawal on Wednesday morning. The group had already expended over £4 million on operational costs during the past two months. In a statement, the consortium declared that the magnitude of its original bid was no longer justifiable and could not be renegotiated. Their offer would have facilitated a complete exit from administration, potentially sparing the club from a points deduction at the commencement of the 2026-27 season.
Explaining their decision, the consortium cited the "historic mishandling" of the club under former owner Dejphon Chansiri as a pivotal factor. In an open letter to supporters, a spokesperson expressed regret, stating, "We have fondly watched Wednesday from afar for many years. It is a club whose glory has been diminished over the years by poor owners who forgot or intentionally disregarded your passion, your history and your value. You deserved, and deserve, better."
New Bidders Emerge Amidst Turmoil
Following the consortium's departure, two new expressions of interest have surfaced, with Mike Ashley reportedly among those exploring a potential deal. Begbies Traynor confirmed they have been contacted by other parties who previously participated in the sales process. A statement from the administrators read: "We have already been contacted by other parties who previously participated in the sales process and who have reiterated their interest in acquiring the club. We are therefore moving immediately to re-engage with those bidders under a new expedited timetable."
This setback for Sheffield Wednesday, affectionately known as the Owls, occurs merely three days after their relegation from the Sky Bet Championship was mathematically confirmed. The club initially incurred a 12-point deduction after entering administration in October, followed by an additional six-point penalty in December for late wage payments. Despite the ongoing turmoil, administrators have assured that the club possesses sufficient funds to complete its remaining 13 fixtures, starting with an away match against Norwich on Wednesday evening.
Supporters' Trust Calls for Swift Resolution
The Sheffield Wednesday Supporters’ Trust has issued a plea to administrators and the English Football League, urging them to ensure a suitable new owner is in place before the start of the next season. A statement from the Trust emphasised: "The minimum expectation of Wednesday fans is that we can put out a team that is competitive in League One next season. We need our future ownership in place as quickly as possible if we are to have any chance of delivering that."
Administrators have reaffirmed their commitment to securing the best outcome for creditors, safeguarding the club’s long-term future, and exiting administration in a responsible manner. The spokesperson for the Bord consortium added, "Tragically, the historic mishandling of the club and pattern of catastrophic under-investment means our sizeable binding bid can no longer be justified." They maintained their admiration for the club, noting, "We genuinely believed we could play a positive long-term role as custodians of one of the greatest clubs in English football and wanted to help guide Sheffield Wednesday towards a brighter future. While we leave this process with a sense of regret, our admiration for the club and its supporters remains undiminished and it will always hold a special place in our hearts."
