Fresh Sheffield Wednesday timescale update emerges amid £100m Mike Ashley news | OneFootball

The Owls' joint-administrators are looking for a swift resolution to the club's takeover after fresh twists

Sheffield Wednesday remain on the hunt for fresh investment as we progress through the early months of 2026, with the Owls continuing to attract major interest after the latest takeover twist at Hillsborough.

Wednesday have been under the control of joint-administrators, Begbies Traynor, since October 24th after being placed into administration by controversial former owner, Dejphon Chansiri.

The Thailand-based businessman's 10-year spell as chairman at Hillsborough proved to be extremely chaotic, and it was hoped by supporters that his exit would allow for a new and much more positive era to commence as soon as possible in S6.

However, fast-forward a handful of months, and it still remains to be seen who will be investing their funds into the Steel City club, who, on the pitch, suffered the earliest-ever relegation in the history of the EFL last week in the cross-city derby with Sheffield United at Bramall Lane, with an overall 18-point deduction throughout the Championship season effectively consigning the Owls to League One football next term, whilst they still remain on minus points with 12 matches to go.

Meanwhile, it appeared, for some time, that a consortium led by ex-poker player, James Bord, would be taking over the reins in the Hillsborough boardroom after he was granted preferred bidder status ahead of the likes of the Storch family and Mike Ashley on December 24th.

However, earlier in the week, it was revealed that the consortium withdrew from the process despite placing a £47.8m offer, with it being reported that the sourcing of funds - through the gambling and crypto-gambling sectors - and the bid's overall complexity caused major issues.

As such, this has allowed the likes of the Storch family and Ashley to renew their contact with the club's current administrators, who have now stated when they would like to see official offers put on the table by those willing to take Wednesday forward.

Fresh timescale update emerges on fresh bids for Sheffield Wednesday takeover

Ahead of the confirmation of the Bord-led bid collapsing on Wednesday afternoon, it was reported that David Storch remained confident that he could secure a takeover deal, having previously attempted to join forces with fellow interested bidder, John McEvoy, in December.

Meanwhile, Ashley has also been heavily linked with a takeover of the South Yorkshire side, some four-and-a-half years after he sold up at Newcastle United for £305m to the Saudi Arabian Public Investment Fund.

The 61-year-old previously submitted an unsuccessful £20m bid in November, but it has now been claimed that he is attempting a deal which would remove a 15-point penalty at the start of next season for the failure of not exiting administration in the desired way, and could be worth approximately £100m.

In a fresh update, Alan Nixon has since reported that the Owls' joint-administrators are wanting to see proof of fresh bids being officially submitted by the end of next week.

The next preferred bidder will also be expected to place a non-refundable deposit, as was the case with Bord's bid, as he lost £4m which ensured the players' wages would be covered until the end of the season, although cash after said timeframe is said to be running out.

Nixon has also claimed that Ashley is 'moaning' about the 15-point penalty as he looks to rival the Storch family, whilst other bidders have been placed on alert, and there is a hope that a £16m figure can be met.

Sheffield Wednesday need a resolution to takeover saga ASAP

At this stage, it will please supporters that the administrators are looking to resolve the matter as soon as possible, as they stated officially in midweek that the process did not have to go back to the drawing board.

With Henrik Pedersen and his players having pride to play for in the coming weeks, it is no surprise that takeover-themed discourse will dominate headlines as the club look to start fresh heading into next season, which will be their first at third tier level since 2023.

The main reason behind this, as well as fresh investment, will be whether the club are hit with another 15-point deficit, as it would, to an extent, impact Wednesday's aims for next season on the pitch.