Sheffield Wednesday takeover update involving the Storch Family emerges | OneFootball

The bidding process to take over Sheffield Wednesday takes another turn

Sheffield Wednesday administrators Begbies Traynor are waiting on a fresh bid from the Storch Family amid lurking interest from Mike Ashley and James Bord.

According to Alan Nixon, the group made an offer to buy the Owls last week that fell short of the £30 million asking price that’s been set.

The South Yorkshire outfit have been in administration since 24 October, which led to an automatic 12 point deduction being handed to them by the EFL as per their rules and regulations.

Henrik Pedersen’s side were handed a second points penalty, worth another six points, for further breaches of the league’s rules, leaving them likely to be relegated to League One this season unless a miracle occurs.

Begbies Traynor are seeking a new owner in place of Dejphon Chansiri, who has also been given a three-year ban from being an owner or director of an EFL club.

Storch Family update emerges in Sheffield Wednesday takeover saga

The Storch family are reportedly still involved in the bidding process for buying Sheffield Wednesday, despite John McEvoy’s departure from their joint-effort.

It’s believed that Begbies Traynor are still waiting for a breakthrough offer from the prospective owners, with their most recent offer yet to meet the £30 million reserve price.

Bord’s offer remains the most valuable at this point, but there are still three parties in the race to take over the Yorkshire outfit at this stage.

The bidding process has seen a number of delays, and it remains to be seen when a preferred option to purchase the club will now be named.

It’s understood that the Storch family are working with a leading agency who are advising them on the takeover process, along with a well-regarded British lawyer.

It’s been claimed that failure to meet the £30 million reserve price - which is what Mike Ashley is planning on doing if he is able to get his hands on the club - could lead to a points deduction for next season if it leads to creditors not being paid 25 pence on the £1 whenever the takeover is complete.

Storch Family’s offer is weakened without John McEvoy involvement - they need a Plan B

The Storch Family being involved with McEvoy was a very strong option to purchase Sheffield Wednesday as it meant their resources could be combined and put into the club in equal measure, but the fact the consortium couldn't come up with the non-refundable deposit - if reports are to be believed - wasn't a good sign.

It’s positive however for supporters that the Storch's remain interested despite the US businessman seemingly dropping out of the running.

The £30 million reserve price being hit is the number one factor that Begbies Traynor will be seeking, as their job is to find the best deal possible for Sheffield Wednesday’s creditors.

So if the Storch family or Ashley don’t improve their offers, then it’s likely that Bord could be named as the preferred bidder for the Championship club - despite his past involvement with Sheffield United's recruitment and the fact he may have a hard time passing the EFL's Owners' and Directors Test.