Mike Ashley exploring deal to buy Sheffield Wednesday after takeover collapse | OneFootball

Sheffield Wednesday’s administrators will meet with a representative of Mike Ashley on Thursday after the preferred bidder pulled out of a proposed £47.8million takeover, the Press Association understands.

There have been two expressions of interest in buying the club since a James Bord-led consortium withdrew on Wednesday, PA understands, with former Newcastle owner Ashley also exploring a deal.

Former professional poker player Bord’s consortium was granted exclusivity by club administrators Begbies Traynor on Christmas Eve.

The group spent more than £4m on running costs during the last two months but announced on Wednesday morning it was withdrawing from the process as the scale of its original bid was no longer justifiable and could not be renegotiated.

A statement from administrators revealed Bord’s offer would have delivered a full exit from administration, enabling the club to begin the 2026-27 season without a points deduction, but the takeover process would not have to restart from scratch.

“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,” read a statement from Begbies Traynor.

“We are therefore moving immediately to re-engage with those bidders under a new expedited timetable.”

The setback comes three days after the Owls’ relegation from the Sky Bet Championship was mathematically confirmed.

According to administrators, the club have sufficient funds to complete their 13 remaining fixtures, starting away to Norwich on Wednesday evening.

They reaffirmed aims to secure the best achievable outcome for creditors, protect the club’s long-term future, and to exit administration in a responsible manner.

In explaining the collapse of the deal, the consortium pointed to the “historic mishandling” of the club under previous owner Dejphon Chansiri.

“We have fondly watched Wednesday from afar for many years,” said a consortium spokesperson, in an open letter to fans.

“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.

“Tragically, the historic mishandling of the club and pattern of catastrophic under-investment means our sizeable binding bid can no longer be justified.”

Wednesday were deducted 12 points after entering administration in October before being hit with a further six-point penalty in December for late payment of wages.

“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,” added the consortium spokesperson.

“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.”

Sheffield Wednesday Supporters’ Trust called for administrators and the English Football League to ensure the club have a suitable new owner in place for the start of next season.

“The minimum expectation of Wednesday fans is that we can put out a team that is competitive in League One next season,” read a statement from the Trust.

“We need our future ownership in place as quickly as possible if we are to have any chance of delivering that.”