Why Charlie Methven is behind Mike Ashley and Storch family in Sheffield Wednesday takeover race | OneFootball

Sheffield Wednesday are seeking a new preferred bidder to buy the club after the collapse of James Bord's bid

Sheffield Wednesday are mired in takeover limbo following the collapse of James Bord’s bid to buy the club.

The Owls have been in administration since October, but it was hoped that a preferred bidder being named in December could lead to a swift resolution.

But the former poker player’s consortium pulled out of the deal in February, leaving the club back at square one again in their attempts to find a new owner.

The Yorkshire outfit will be hoping that a new preferred bidder can be found quickly, with Henrik Pedersen looking to plan for life in League One already.

Sheffield Wednesday have been officially relegated to League One, having won just one of their 35 games so far this season.

The club are on minus seven points, and are stuck in a 12 game losing run in what has been a disastrous last 12 months at Hillsborough.

Sheffield Wednesday takeover latest

According to The Star, the group led by Charlie Methven are currently behind both Mike Ashley and the Storch family in the bidding process to buy Sheffield Wednesday.

It is understood that this consortium are having to play catch-up in doing their due diligence with the authorities as they were not part of the first bidding process late last year.

It is expected that the final round of offers in this negotiating process will take place on Friday, with bids set to arrive from both Ashley and Storch.

Other groups have also made contact with the Championship side ahead of this Friday’s deadline, but it remains to be seen whether any formal offers will be forthcoming.

Administrators Begbies Traynor are also set to factor in the time it will take to complete the takeover as part of their upcoming decision over the preferred bidder.

This will be a setback for the Methven-led group, but it’s understood that it could also have an impact on the Storch family’s plans to buy the Owls.

It’s been claimed that if Ashley and Storch both have a similar offer but the latter’s is higher then it will still not guarantee preferred bidder status.

The Independent Football Regulator (IFR) is set to take over the ratification process from the EFL at the turn of the month, which could also have an impact on the decision of who will be the club’s next owner.

Sheffield Wednesday takeover talks need to be swift

Given Ashley and the Storch family were both involved in the bidding process earlier in the season, it makes sense that they’ve got an advantage on any other interested parties.

Given Begbies Traynor are factoring in potential timescale, it shows how important it is that a deal gets over the line as quickly as possible for the health of the club long-term.

However, it now seems likely that Sheffield Wednesday will need to accept a further 15-point penalty, which is set to hit them next season, which is a bitter pill to swallow for fans.

The blame lies at the feet of Dejphon Chansiri, who has put the Owls in this mess in the first place and it is the remaining money owed to him that has seemingly caused so many complications.