Simon Jordan points to Sheffield Wednesday in Leicester City administration claim | OneFootball

The former Crystal Palace has shared his thoughts on Leicester City's administration threat.

Sheffield Wednesday and Leicester City are the two biggest clubs in League One, but the pair have been experiencing differing fates upon their return to the third tier.

Both clubs were relegated from the Championship last term, paying the price for poorly led ownership, with the Owls finishing 46 points behind the Foxes, although both were dealt point deductions.

While Wednesday are sitting top of the pile after six games, Leicester are down in mid-table, and although they have two wins from their last three, performances have been less than convincing under Russell Martin.

Things could yet get worse for the East Midlands club as there have been reports that the club could go into administration, but Simon Jordan has provided some hope in his analysis.

Simon Jordan offers Sheffield Wednesday salvation to Leicester City

Leicester have enjoyed the best decade in their entire history, lifting the Premier League and FA Cup trophies, while they also made their mark in the Champions League.

However, the club are not only in a concerning football position but also a worrying financial one as King Power struggle to find a buyer.

Neil Lal's Bharat Consortium has made an offer and is one of the known groups trying to buy the club, while boxing mogul Turki Alalshikh has also been linked with the purchase, but the longer the situation goes on, the more perilous it could get.

After talkSPORT's Ben Jacobs explained that Leicester may have to consider administration if a buyer isn't found quickly, Jordan interrupted Jim White to share his thoughts.

"I'd let them go into administration, wouldn't you?" Jordan said.

"The premise of paying £200million for a football club in League One, irrespective of whether it is a former Premier League winner, is not going to happen. No one is going to do it.

"And if the only course of action is administration, then that might result in a new owner coming in, in the same way that Sheffield Wednesday now have new owners.

"Whilst it was nip and tuck and people didn't like the idea of their great football club being in that situation, it might well actually force the issue down into a price range that people are prepared to spend.

What would administration mean for Leicester?

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While the word administration immediately triggers the worst thoughts for football supporters, it does not mean that Leicester would disappear or be expelled from the EFL.

However, one immediate consequence would be a potential points deduction, and talkSPORT has reported that administration would trigger a 12-point deduction.

As Jordan stated, it would also mean that the club could be purchased at a more reasonable price, as £200m for a League One club feels incredibly steep, regardless of their recent success and sentiment.

Another negative would be potential restrictions on the transfer market, as the Foxes' finances would come under much tighter scrutiny and sanctions could be placed on spending.

Of course, looking at Sheffield Wednesday as an example, there is life after administration, but it might mean that things get worse before they get better for the East Midlands club.

How Leicester fans have reacted to administration reports

While there is talk of Lal trying to buy the club, it appears that many Foxes supporters are against the idea, with one even favouring administration.

One has also echoed what Jordan said and highlighted that Top needs to budge on his asking price.