How Simon Jordan blew £75m amid Sheffield Wednesday takeover bid talk | OneFootball

Simon Jordan revealed he considered making an official offer to take over Sheffield Wednesday

Simon Jordan once earned and then lost £75 million amid takeover links between him and Sheffield Wednesday.

The former Crystal Palace owner revealed in late November that he had considered putting together a bid to purchase the Owls.

He confirmed that he put together a consortium that had a proof of funds of up to £50 million, but that ultimately the decision was made not to pursue a takeover of the Championship side.

"I put together a consortium of very well-heeled people, who proved up £50m to have a look at Sheffield Wednesday," said Jordan, via Talksport.

"It's a club that I've always advocated for because I think it's a big club waiting to happen again if it had proper management and proper ownership and proper direction and proper disciplines around building it back as a football club.

"But it is massively challenged.

“The reasons why I've decided not to go forward with it is because I don't like the idea of rewarding Chansiri by having to pay huge parts of the money that he has to get to avoid the EFL regulations of being sanctioned again - because if you don't pay the '25p in the Pound' then ultimately you'll get another 15-point penalty.”

It remains to be seen who will take over the Yorkshire outfit, who are currently in administration and bottom of the second division table.

Here we take a look at how Jordan amassed his fortune, and then how he blew it all away amid these links to Sheffield Wednesday…

Simon Jordan’s £75 million net worth

Prior to entering the world of football, Jordan co-founded a mobile phone company, Pocket Phone Shop, in 1994 alongside Andrew Briggs.

The pair enjoyed a successful six years running the business, before selling to One2One in a £73 million deal in June 2000.

It was reported that Jordan earned £36.5 million as part of the deal, which was the beginning of a fortune that he eventually built to around £75 million.

He went on to purchase his boyhood club Crystal Palace not long after the sale of his stake in Pocket Phone Shop.

The businessman installed himself as chairman of the Eagles, and was owner until 2010.

The London outfit were competing in the second tier of English football following his takeover, and they remained at that level until earning promotion to the Premier League in 2004 through the play-offs.

Palace were ultimately relegated immediately the subsequent season, coming 18th in the table, and they remained in the Championship for the rest of Jordan’s tenure as owner and chairman.

If he had purchased Sheffield Wednesday, then perhaps he again would’ve returned to the role of chairman.

Jordan struggled financially during the final years of his time as Crystal Palace owner, with the club even going into administration in 2010, which led to his exit.

In an interview in 2012, the now 58-year-old revealed that he had blown his £75 million fortune through the combination of his lavish lifestyle and the cost of running the Eagles.

“I had £75 million and I’ve done it,” said Jordan, via The Times.

“What, all of it? “Blown the lot.”

He admitted to spending £100,000 per month on living costs, along with buying 18 cars, six homes, a £2.5 million boat and a lease on a private jet.

In the years since, Jordan has settled into a role as a pundit on Talksport, where he will offer insight based on his experience of running Crystal Palace.

However, the radio host claimed that the cost of that venture was around £40 million, swallowing up over half of his £75 million fortune.

He has not made a return to football in any official capacity since his exit from Selhurst Park, with the Eagles now an established Premier League side, and his decision not to pursue a takeover of Sheffield Wednesday means that wait will go on.