Fresh reaction given to Sheffield Wednesday takeover bidders - one is a “definite no-no” | OneFootball

FLW's Owls expert has named his preferred new owner

This article is part of Football League World's 'Terrace Talk' series, which provides personal opinions from our FLW Fan Pundits regarding the latest breaking news, teams, players, managers, potential signings and more…

Sheffield Wednesday’s long-running ownership crisis has entered what feels like its most consequential stage yet.

After months of rumour, false dawns and speculative names, administrators have now narrowed the field to three remaining bidders tasked with rescuing one of English football’s most historic clubs from administration.

Those three options are starkly contrasting. Former Newcastle United owner Mike Ashley represents a familiar, divisive figure with a well-documented track record in football ownership.

American investor John McEvoy, now joined by the Storch family in a merged bid, offers relative anonymity but longstanding interest.

The third, a consortium led by James Bord, has perhaps generated the most immediate unease among Wednesday supporters due to his current links across the city at Sheffield United.

This is not a theoretical debate about ambition or upside - the stakes are brutally clear. Wednesday were placed into administration in October after years of financial mismanagement under Dejphon Chansiri, triggering an automatic 12-point deduction and a further six-point penalty for breaches relating to unpaid wages.

Relegation from the Championship is now a near-certainty. The priority is no longer survival this season, but long-term credibility, stability and governance.

Administrators Begbies Traynor are balancing competing pressures: securing the best return for creditors, ensuring compliance with EFL regulations and identifying ownership capable of sustaining a club that will likely begin next season in League One with significant operating losses.

Bids in excess of £30m are required to clear debts and avoid further sanctions, but price alone is not expected to determine the outcome.

This process has prompted a familiar emotional conflict for Owls fans. After years of chaos, there is relief that credible bidders remain, but there is also deep scepticism about promises made at moments of vulnerability.

Preferred owner named as Sheffield Wednesday takeover comes down to final three bidders

Against that backdrop, Football League World spoke to in-house Owls fan pundit Patrick McKenna to gauge his thoughts on the final three bidders - and where preferences are beginning to emerge.

“With this final three announced, it's kind of a strange one,” McKenna told FLW.

“When the process all started and we were hearing stories of numerous bidders coming in at one stage, there was about 11 or 12 and I think then, maybe as a fanbase, we had visions of maybe like a Birmingham or a Wrexham type owner.

“So, with these three remaining ones: well, I can really say now that James Bord is a definite no-no. There's just a lot of red flags about the guy.

“The McAvoy-Storch one, it's a possibility. We don't know a lot about the guys behind it but it seems they have been interested for a long time - even looking to buy us before administration - so they are possibly prepared better.

“And Mike Ashley, I know I have stated my reservations with the guy. 
Yes, he is a successful businessman with access to funds, but just his history with previous clubs doesn’t fill you with a lot of hope.

“However, there is the argument that he would have to do things differently at Wednesday if he ever had full control, and if he wanted to get us back to the Premier League, it would need to be the investment in all parts of the club.

“The McAvoy-Storch bid would be my favourite at the minute, but yeah, I will admit I still don't know a huge amount about them.”

Sheffield Wednesday’s future off the pitch now dominates the conversation

The shortlist exposes how far Sheffield Wednesday have fallen - and how cautious they now have to be.

This is no longer a debate about bold visions or quick returns, and that instinct shapes the reaction to each bidder.

The scepticism around James Bord reflects a fanbase wary of anything that looks like experimentation or divided attention. Wednesday don’t need to be a proving ground; they need stability and focus.

Mike Ashley’s candidacy brings its own tension. His wealth offers reassurance, but his track record also carries the fear that supporters once again become secondary to the balance sheet - a concern that hasn’t faded with time.

The McEvoy-Storch bid, by contrast, feels lighter on baggage and closer to a clean slate - but anonymity only goes so far. If this group is to lead the club forward, clarity around leadership, decision-making and intent will matter just as much as financial backing.

With Wednesday offering so little on the pitch, it’s inevitable that attention has shifted elsewhere. A 3-0 defeat to Derby County on Monday night was another blunt reminder of how bleak the present is, and how little the football currently gives supporters to cling to.

Results arrive, disappoint and move on. There is no momentum, no narrative, no sense of progress.

In that vacuum, the future becomes the focus. With limited information coming out of the takeover process, Owls supporters are left to fill the gaps themselves, analysing bidders and projecting meaning onto whatever fragments emerge. When the present feels unwatchable, people try to understand what comes next.

This is why the identity of the next Wednesday owners matters so deeply - they represent the first tangible opportunity to restore direction. Clarity, even if imperfect, would be a relief.