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

Mike Ashley is one of the parties interested in buying Sheffield Wednesday

Sheffield Wednesday's administrators are hoping to find a new buyer for the stricken club as quickly as possible after the collapse of James Bord’s bid to buy the club.

The Stanmore-born entrepreneur and former professional poker player led a consortium that had reportedly agreed to pay a massive £47.8 million to buy the Owls, which gave them preferred bidder status in December of last year.

It’s been reported that Mike Ashley and the Storch family are still keen to take over the Championship side after they were involved in the previous round of negotiations last year.

A third bidder is also in the frame, and it is hoped that a new preferred choice will be named soon, with time of the essence as the end of the Championship season approaches.

Sheffield Wednesday have been in administration since October when owner Dejphon Chansiri finally relinquished his control, and are at risk of running out of money if a takeover cannot be completed in time.

Henrik Pedersen’s side have already been officially relegated to League One, with the team bottom of the second division table with a total of minus seven points, and the main focus now is to get back on a sounder financial footing ahead of next season.

New information drops on Mike Ashley’s Sheffield Wednesday bid

It has been reported by BBC journalist Andy Giddings that Ashley’s bid is lower than the David Storch offer by a considerable margin.

And according to fellow reporter Alan Biggs, the offer is only worth a little over £10 million, which is well below the initial asking price of £30 million.

American businessman Storch has seeminly significantly outbid the former Newcastle owner, which could be enough to earn him preferred bidder status.

However, 61-year-old Ashley is not officially out of the running to buy the Championship team by any means.

It is understood that administrators Begbies Traynor will also be taking into account how quickly a bidder can have their takeover ratified by the EFL due to fears over the Owls potentially running out of money.

Sheffield Wednesday will reportedly have enough money to get to the end of the current season, but losses of £1 million per month mean that they may not have funds beyond that point.

This emphasises the need to get a takeover completed quickly, as the future of the club is now at stake.

Given the Storch family’s money is tied up abroad, it will likely take longer for the EFL to complete their checks on his offer compared to Ashley, which could put the ex-Newcastle owner ahead despite the considerably lower offer.

It’s also believed that no bid has exceeded the reserve asking price for the second tier team, which means they are likely to incur a 15-point deduction penalty for the start of next season.

Timing will be a key factor in Sheffield Wednesday takeover process

If there is a confidence that Ashley’s bid can be completed in time compared to the Storch family then it’s likely his lower offer could still be accepted.

The 61-year-old is in a stronger negotiating position now compared to the previous round of offers because time is of the essence.

The Owls need to get this takeover completed before the end of the season, and the EFL’s checks on Ashley will theoretically not take too long.

The positive news for supporters is that a preferred bidder is expected soon, and could even be named as early as this week - we've seen though with Bord's offer that it doesn't necessarily mean the club will have a new owner rapidly.