Mike Ashley has 'deep pockets' - Carlton Palmer reacts to Sheffield Wednesday takeover update | OneFootball

Carlton Palmer and Michael Vaughan have reacted to the latest Sheffield Wednesday news regarding Mike Ashley lining up a bid...

Sheffield Wednesday alternatives to James Bord are emerging, including former Newcastle United owner Mike Ashley.

Mike Ashley links to Sheffield Wednesday first emerged in October 2025 but other bidders were preferred not long after the interest emerged. However, that intrigue from the 61-year-old has never gone away.

At one stage, both Ashley and John Textor were involved in eyeing Wednesday. However, James Bord then appeared to be in the driving seat and advancing in negotiations, with the relevant checks and tests being made to ratify a takeover of Sheffield Wednesday.

Ashley remained keen on Wednesday throughout that, with reports last month claiming that Ashley was keen on a deal in case Bord's takeover collapsed. There have since been further developments regarding his interest in buying the South Yorkshire outfit.

Carlton Palmer and Michael Vaughan react to Sheffield Wednesday and Mike Ashley latest

Alex Crook reported recently that Ashley was 'waiting in the wings' over a deal for Wednesday. Mere days later, it was suggested that three buyers were looking at Wednesday again, including Ashley.

The latest is that Ashley is now set to improve his initial £20 million offer to buy Wednesday, as reported by John Percy of The Telegraph. With relegation confirmed in recent weeks, Sheffield Wednesday fans are desperate for some positive news and sense of direction.

Having spent a little over five years as a player at Hillsborough, Carlton Palmer may well describe himself as a fan of the Owls now. He helped them lift the League Cup in 1991 and played 229 games for Wednesday, which was 102 more than for any other side.

Speaking of Wednesday supporters, cricket legend Michael Vaughan reacted to the latest regarding Ashley and Palmer was there to respond in an interaction on X (formerly Twitter).

Vaughan simply stated: "Good", while Palmer detailed why Ashley could be the man to take them forward. He said: "I have said all along [he is the] right man to take the club forward. Not heard a bad word said against him from lots of people I know who work for him. Deep pockets knows football. Astute businessman."

The primary issue with Sheffield Wednesday bringing in Mike Ashley

The primary negative regarding the former Newcastle United chief is that Wednesday could start with a points deduction if Ashley seals a move at that initial price he sought the club for back in November.

It could be a hammer blow to Wednesday's fortunes on the pitch next season, as it is claimed that they would be deducted 15 points before a ball has been kicked in 2026/27, regardless of what division they are in.

That is owing to Ashley's bid not meeting the £30 million threshold to avoid the punishment. However, if his latest bid comes in higher, it could potentially bypass that issue. It's unclear how high he will go, though.

Sheffield Wednesday need a new owner quickly, so planning for the 2026/27 EFL League One season can start immediately. Ownership clarity, even with Ashley instead of someone like Bord or Textor, allows decisions on the manager, player contracts, recruitment, budget, and long-term strategy to fall into place.

Without it, key choices stall, targets sign elsewhere, and greater uncertainty spreads through the club. A new owner can set direction, confirm leadership, and begin building a competitive squad early in the window. The sooner that domino falls, the sooner every other decision, from staff structure to transfers, can follow with confidence.