Sheffield Wednesday takeover: What is Mike Ashley's situation as James Bord deal collapses | OneFootball

The ex-Newcastle United chairman was previously linked with a Hillsborough takeover

Sheffield Wednesday's takeover process has been full of twists and turns, and the biggest yet has recently emerged.

The Owls' on-pitch fate had been decided for many weeks and months at the start of 2026, with Henrik Pedersen left with very little to work with in terms of a playing squad and financial resources when it comes to attracting new players to Hillsborough at this moment in time.

Indeed, Wednesday became the club to suffer the unwanted record of the earliest-ever relegation in the history of the EFL, as their return to League One was mathematically confirmed by a 2-1 defeat in the Steel City derby to Sheffield United, of all games, on Sunday, February 22nd.

As a result of the fact the South Yorkshire outfit have been glued to the bottom of the Championship table for the vast majority of the campaign, it has been off-pitch matters that have dominated Hillsborough-based headlines and discourse.

Just 10 months ago, further rumblings of discontent under the controversial ownership of Dejphon Chansiri came to the fore, leading to a mass exodus of senior players and management staff and several transfer and registration restrictions.

Ultimately, Chansiri's exit on October 24th as a result of Wednesday entering administration felt like a huge weight had been lifted off the collective shoulders of every Wednesdayite. However, fast-forward four months, and they are still in the dark as to who the next owner will be.

That is because, after weeks of contrasting developments, including being sued by former business partner, Jonathan Cohen, James Bord - who was named as preferred bidder on Christmas Eve - has decided to withdraw his consortium from the process, in what is a huge development concerning the future of the Owls.

It has been said that differences in valuations and the significant and unknown costs of redeveloping Hillsborough are among the causes of said stalemate.

As such, it remains to be seen if any of the other previously-linked candidates will step up their own pursuit, and that includes ex-Newcastle United president, Mike Ashley.

With that in mind, Football League World have looked at what the state of play surrounding the 61-year-old's hopes of securing a deal currently looks like.

Mike Ashley's current situation as James Bord, Sheffield Wednesday takeover bid collapses

This isn't the first time that Ashley has looked for a route back into the world of football ownership since selling Newcastle United to the Saudi Arabian Public Investment Fund for £305m in November 2021, having previously been linked with a takeover of Derby County during the Rams' own period in administration four years ago.

It was widely claimed that Bord had been granted preferred bidder status in late December ahead of the likes of Ashley because his offer hadn't met the £30m obligation when it came to wiping out the club's current debt, and that would have seen them hit with a further deduction of 15 points at the start of 2026/27.

Indeed, after weeks of being linked with a takeover move for the Owls, Ashley was the first of several interested parties to make a move, but he saw a bid worth approximately £20m turned down by administrators, Begbies Traynor, on November 26th.

However, it was claimed that the former Frasers Group founder and CEO could renew his interest, as well as that of the Storch family, if Bord, Felix Roemer and Alsharif Faisal Bin Jamil's joint-bid was to be unsuccessful in their own takeover pursuit.

That now appears to be the case, which allows the likes of Ashley to become, once again, heavily involved in the process. It was reported by talkSPORT the day prior to the collapse of Bord's bid that Ashley is 'waiting in the wings'.

Mike Ashley will face strong competition in pursuit of becoming next Sheffield Wednesday owner

As well as Ashley waiting to pounce, it has been claimed that David Storch also remains confident of his own takeover, whilst Alan Nixon has claimed that unless either offer is significantly improved, the club will be hit with the automatic 15-point deduction at the start of next season.

That would be the least ideal scenario for Pedersen and his players, who would hope to use a season in League One as a chance to rebuild and reinstall a successful and winning environment before pushing forward in a sustainable manner after years of uncertainty.

And even though a 15-point deduction may come next season, it may need a seasoned businessman like Ashley to come in and use his expertise to guide the Owls back up the EFL - he didn't exactly leave Newcastle in a bad place in 2021 when it was all said and done, so the proven track record may be the safest.