Journalist drops major £100m Mike Ashley, Sheffield Wednesday takeover update | OneFootball

Mike Ashley is attempting to do a deal with the EFL to avoid a point deduction if his Sheffield Wednesday takeover bid is accepted

Mike Ashley is firmly in the Sheffield Wednesday takeover race following the news that James Bord's bid has collapsed.

The American had been named as the Owls' preferred bidder, but Bord's proposed Wednesday deal fell through, as his consortium decided to step away, believing that their offer exceeded the value of the South Yorkshire outfit.

Henrik Pedersen's men were relegated to League One last Sunday, thanks to a 2-1 defeat at the hands of Steel City Derby rivals Sheffield United, and went on to lose 2-0 against Norwich City on Wednesday.

Meanwhile, Bord had spent £4million ensuring that staff and players were paid on time while he was the Owls' preferred bidder.

Mike Ashley set to pledge Sheffield Wednesday £100m as he seeks EFL deal

Wednesday have been deducted 18 points this season, and remain on -7 points following their 2-0 defeat at Norwich.

The Steel City outfit will desperately want to avoid remaining in administration at the start of next season, as they will be hit by further point penalties.

Meanwhile, talkSPORT reporter and Sheffield Star columnist Alan Biggs revealed via X on Thursday: "Latest SWFC feedback from sources (caveat of twists & turns). Mike Ashley understood to be attempting a deal with EFL to avoid -15 (deduction) next season if his bid accepted. Is pledging big funding, thought to be circa £100m. The Storch family (& others?) also active.

"Would add, in fairness to the administrators, they had not put all their eggs in one basket with Bord. Other bidders were kept in the loop & embraced as backstop options, Ashley included."

David Storch's bid team revealed that they were still interested in a Wednesday takeover before the collapse of Bord's deal was made public, telling BBC Radio Sheffield's Rob Staton: "We remain incredibly passionate about the opportunity at Sheffield Wednesday and seeing the club return to its former glory. We wish the preferred bidder well through the process, but are ready to step in should the opportunity present itself again.

"We know all are disappointed by relegation yet wish the team well as they finish the current season."

Storch and Ashley are now vying to be named as the administrators' preferred bidder, while Owls supporters want to see their club in new hands sooner rather than later.

The EFL currently have the power to put prospective buyers through their Owners' and Directors' test, while ratifying club sales will be the Independent Football Regulator's responsibility by May.

James Bord takeover collapse could be Sheffield Wednesday blessing in disguise

Wednesday supporters will be disappointed by the fact that Bord is no longer set to purchase their club, as they cannot possibly move in the right direction while they remain in administration.

However, Bord was being sued by his former business partner, Jonathan Cohen, while the EFL were also working to establish whether his takeover would have been largely funded by gambling and crypto-gambling proceeds.

That evidence suggests that the American may not have been the best man to purchase Wednesday, who endured hardship under former owner Dejphon Chansiri.

Mike Ashley's Newcastle United past may lead to reservations among the Owls fanbase regarding his potential ownership at Hillsborrough, but there were red flags against Bord's name.