How Simon Jordan has reacted to Sheffield Wednesday, James Bord takeover twist - Mike Ashley prediction emerges | OneFootball

Simon Jordan has given his reaction to preferred bidder James Bord pulling out of the race to buy Sheffield Wednesday.

Sheffield Wednesday are on the hunt for new ownership after the proposed takeover by James Bord's consortium collapsed.

Over four months on from former owner Dejphon Chansiri's exit in October, Wednesday are still in administration, but it had appeared that Bord's consortium was in pole position to buy the club after being named as the preferred bidder on Christmas Eve.

However, amid significant uncertainty over whether Bord's group would receive approval by the EFL due to question marks over their source of funding, they announced on Wednesday that they had withdrawn from the takeover process, explaining that a due diligence process had revealed their initial bid was significantly higher than the club's true valuation.

With Bord's consortium no longer in the frame, some of the previously interested parties are believed to have contacted the club's administrators, including former Newcastle United owner Mike Ashley, while the Storch family confirmed earlier this week that they remain keen on securing a deal for Wednesday.

Local businessman Ryan Howsam has hinted that he could consider re-entering the race to purchase the Owls, but only on the condition that the club are not hit with a 15-point deduction next season, and it has also been reported that Danish billionaire Andreas Holch Povlsen could reignite his interest now that the asking price is around £10-20 million, rather than the original £35 million plus valuation.

While it remains unclear who will be the next owner of Wednesday, their fate on the pitch has been determined after their relegation to League One was sealed following a 2-1 defeat to Steel City rivals Sheffield United at Bramall Lane on Sunday.

Simon Jordan slams James Bord, Sheffield Wednesday bid and drops Mike Ashley claim

Former Crystal Palace owner and pundit Simon Jordan, who had previously explored a deal for Wednesday alongside Howsam, shared his reaction to the latest takeover developments at Hillsborough, and he questioned why Bord's consortium ever made a bid as high as £47.8 million for the troubled Championship club.

"They've got a £4 million cash cow out of these people, these crypto clowns have spent £4 million of their own money to get precisely nowhere," Jordan said on talkSPORT.

"They've got a £4 million cushion against the backdrop of having another bidder come in.

"The bid was £47.8 million, which is absolute madness for what they're buying, and there's a whole box of tricks underneath the bonnet of costs.

"Looking at it from a standaway position, I think they probably jumped before they were pushed in terms of maybe not getting through compliance.

"They've taken the bull by the horns and realised that actually they might not get through compliance.

"It's cost them £4 million, it's given the administrators a £4 million cushion, what a way to burn cash."

When discussing the possible next steps for the Owls, Jordan suggested that Ashley could be the man to secure a deal for the club, although he admitted that it would come with plenty of challenges.

"In the background is Mike Ashley," Jordan explained.

"Mike Ashley will probably buy this football club if he can get it for exactly the price he wants to.

"It's a hard yard.

Mike Ashley could have big advantage in Sheffield Wednesday takeover race

The timing of Bord's consortium pulling out of their prospective takeover came as a surprise to many, but while Wednesday are now back to square one in their search for new ownership, it appears there is no shortage of interest in the club.

While there are a number of parties keen to explore a deal for the Owls, Ashley would have no issues gaining approval from the EFL, and that could make him the front-runner at this stage, particularly as time is of the essence with the summer fast approaching.

Ashley is believed to be willing to invest £100 million into Wednesday immediately, while he is also said to have identified potential candidates to fill key positions at Hillsborough, which shows just how serious the 61-year-old is about getting his hands on the club.