Sheffield Wednesday takeover: Major Mike Ashley twist revealed | OneFootball

Mike Ashley is set to make a revised offer to buy Sheffield Wednesday within the next 24 hours

Sheffield Wednesday remain in administration, but light could soon be at the end of the tunnel for the Owls, with Mike Ashley eyeing a move to purchase the Steel City club.

James Bord was Wednesday's preferred bidder, but the former professional poker player's takeover deal collapsed, with his consortium deciding that the South Yorkshire outfit's valuation was lower than the amount they bid.

Meanwhile, the Owls' relegation to League One was confirmed when they were defeated by Sheffield United in last month's Steel City Derby at Bramall Lane.

Wednesday have been docked 18 points this term, and will start next season with a further 15-point deduction if their next owners don't meet the criteria of 25p in the pound to creditors.

Mike Ashley expected to make revised Sheffield Wednesday offer imminently

Henrik Pedersen's side have not tasted victory in the Championship since their triumph at Portsmouth in September, and will be vying for their second win of the season when they travel to Derby County, who have also been subject to administration struggles in recent years, this Saturday.

Ashley and David Storch are the current frontrunners to launch a Wednesday takeover, while new offers to purchase the South Yorkshire club are expected by Friday.

The Telegraph revealed on Thursday that former Newcastle United owner Ashley is set to make a revised offer for the Owls within the next 24 hours, and administrators are expecting final offers to land before the weekend.

As per the Telegraph's report, Newcastle's ex-owner submitted an offer worth around £20million to buy Wednesday to administrators Begbies Traynor on 25 November, and has retained his interest in the Hillsborough outfit.

Meanwhile, before the Bord deal collapsed, fellow interested party Storch's consortium released a statement of intent: "We remain incredibly passionate about the opportunity at Sheffield Wednesday and seeing the club return to its former glory. We wish the preferred bidder well through the process, but are ready to step in should the opportunity present itself again.

"We know all are disappointed by relegation yet wish the team well as they finish the current season."

Former Sunderland co-owner and ex-Charlton Athletic CEO Charlie Methven is also interested in a Wednesday takeover, having served on the Addicks board during their League One promotion-winning season.

However, Methven is behind Ashley and Storch in the bidding process, with the administrators keen to facilitate a deal as soon as possible.

If an Owls takeover is completed before May, the prospective owners will be subject to the EFL's Owners' and Directors' Test, but if the process goes into the fifth month of the year, sale ratification responsibilities will instead lie with the Independent Football Regulator.

Sheffield Wednesday should be pleased by £100m Mike Ashley developments

Wednesday's previous owner, Dejphon Chansiri, was highly neglectful, which has been highlighted by the fact that he dragged the S6 side into administration.

Following the struggles that the Thai businessman inflicted on their club, the Hillsborough faithful will want to see strong financial commitment from their next owner, regarding matters both on and off the field.

With that in mind, Owls fans should be pleased that Ashley is willing to splash around £100million if he completes his Wednesday takeover.

The last two transfer windows witnessed Pedersen lose several key players, including Josh Windass, who is now vying to win promotion to the Premier League with Wrexham, and club legend Barry Bannan.

Pedersen has also expressed a desire for investment in Wednesday's training pitches, while some of Ashley's £100m spending should also go towards much-needed stadium improvements.