Mike Ashley steps up interest in buying Sheffield Wednesday after takeover collapse | OneFootball

Sheffield Wednesday’s administrators are set to meet with a representative of Mike Ashley on Thursday, following the abrupt withdrawal of a preferred bidder from a proposed £47.8 million takeover.

The development plunges the club into further uncertainty as it grapples with relegation from the Sky Bet Championship.

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, which had already spent more than £4 million on running costs over the past two months, stated that the scale of its original bid was no longer justifiable and could not be renegotiated.

Their offer would have facilitated a full exit from administration, potentially allowing the club to avoid a points deduction at the start of the 2026-27 season.

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The consortium said the “historic mishandling” of the club by former owner Dejphon Chansiri was a factor in its withdrawal (Martin Rickett/PA) (PA Wire)

Since the consortium’s departure, two new expressions of interest have emerged, with former Newcastle owner Mike Ashley reportedly among those exploring a 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 the Owls comes just three days after their relegation from the Sky Bet Championship was mathematically confirmed.

The club was initially deducted 12 points after entering administration in October, followed by a further six-point penalty in December for late payment of wages.

Despite the turmoil, administrators have assured that the club possesses sufficient funds to complete its 13 remaining fixtures, beginning with an away match against Norwich on Wednesday evening.

Explaining their decision to pull out, the Bord consortium pointed to the "historic mishandling" of the club under previous owner Dejphon Chansiri. In an open letter to fans, a spokesperson for the consortium said: "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."

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Sheffield Wednesday's relegation from the Championship was confirmed last weekend (Getty Images)

The spokesperson 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 expressed regret but maintained their admiration for the club: "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."

The Sheffield Wednesday Supporters’ Trust has urged administrators and the English Football League to ensure a suitable new owner is in place before the start of 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, protecting the club’s long-term future, and exiting administration responsibly.