New revelation emerges about Mike Ashley's Sheffield Wednesday takeover bid | OneFootball

Mike Ashley is one of the final two names in the frame to take over Sheffield Wednesday, but his offer is believed to be the lowest.

Former Newcastle United owner Mike Ashley is one of the final two parties in the running to take over Sheffield Wednesday, but his current offer is thought to be the lowest.

Wednesday have been on the market since October when former owner Dejphon Chansiri put the club and the company through which he owned the stadium into administration following months of financial and off-field turmoil.

The Owls' administrators were initially hoping to name a preferred bidder by 5th December, but while that process has been delayed in recent weeks, it is now believed that one party could be selected to enter a period of exclusivity as early as Friday afternoon, although Monday has been suggested as a more realistic possibility.

It was reported over the weekend that Ashley, US billionaire John McEvoy and the Storch family and a group involving Sheffield United consultant James Bord were the three parties still in contention to buy Wednesday, but it seems that field has now been narrowed even further, with the latter consortium no longer in the frame due to concerns over their funding and whether they would pass EFL tests.

That leaves Ashley and McEvoy/Storch as the only remaining bids as the takeover process enters the final stages, but the Daily Mail have revealed that the offer from the ex-Newcastle chief is currently the lowest on the table.

Fresh details of Mike Ashley's Sheffield Wednesday takeover bid emerge

Ashley is believed to have had an initial offer of £20 million for Wednesday rejected last month, and while it appears he has made an improved proposal, it does not look as though he has significantly increased his bid.

The Athletic claimed this week that, unlike McEvoy/Storch and Bord's consortium, Ashley was the only bidder who had not met the administrator's reserve price of £30 million, and it was said that the 61-year-old was hoping that the alternative offers would fail, which would leave him as the only option.

The Daily Mail report that Bord's group made the highest bid for the Owls in excess of £30 million, with the McEvoy/Storch offer believed to be the second-highest and Ashley's the lowest, but despite that, he still remains firmly in the running to take over the club.

While the administrators are thought to have had reservations about whether Bord's consortium would pass EFL tests, they have no such concerns about Ashley, and as he has a net worth of £3.12 billion, there are also no doubts over his source of funding.

As the administrators close in on naming a preferred bidder, a meeting with McEvoy is scheduled for Thursday, and it may not be too much longer until it is revealed which of the parties have been granted a period of exclusivity.

Mike Ashley's Sheffield Wednesday takeover approach could prove to be a masterstroke

Given his remarkable success in the business world, Ashley is certainly no stranger to getting a deal over the line, so while his reluctance to put the highest bid on the table for Wednesday may seem unusual, his strategy could be a worthwhile gamble.

As Ashley has previously been the owner of Newcastle, as well as holding a stake in Rangers, he will have no issues passing the various EFL tests, and with his vast level of wealth well known, there are no question marks over whether he has the funds required to take the Owls forward.

The joint bid from McEvoy and the Storch family may be more exciting for Wednesday supporters, but they are something of an unknown quantity, and with the administrators believed to be keen to get a new owner in place as soon as possible, they may view Ashley as the safest option.