Simon Jordan reacts to Mike Ashley, Sheffield Wednesday takeover plan after 'absurd' £50m bid | OneFootball

Simon Jordan has reacted to the news that Mike Ashley has bid around £10million for Sheffield Wednesday, and has been outbid

Simon Jordan has weighed in on the news that Mike Ashley has been outbid in his attempt to buy Sheffield Wednesday, who remain in administration.

Ashley's Wednesday bid is reported to be worth around £10million, and was the lowest offer by a considerable margin, seemingly leaving American businessman David Storch as the front-runner to buy the Owls.

The South Yorkshire outfit's administrators - Begbies Traynor - must now decide who their new preferred bidder is after James Bord's takeover attempt collapsed, and that could come by the end of this week if things move swiftly.

Wednesday's defeat to Derby County on Saturday extended their losing run to 14 games across all competitions, but on-pitch matters are of little consequence now with relegation already confirmed - it's all about getting a takeover confirmed and building for the 2026-27 League One season.

Simon Jordan supports Mike Ashley in Sheffield Wednesday takeover verdict

Owls stalwart Liam Palmer has revealed how Wednesday's takeover saga has affected the squad amid their sustained period of poor form in the Championship.

And whilst Ashley may have the lower offer on the table if reports are to be believed, many will think due to his business acumen, he would be the perfect owner at Hillsborough, especially as claims have been made that he would be ready to invest £100 million into the club's facilities and general running straight away.

Discussing the latest developments at Hillsborough live on talkSPORT on Tuesday, ex-Crystal Palace chairman Simon Jordan said: "I think Mike will buy a football club precisely the way Mike wants to buy it, and I think exactly the right way to do it.

"He’s the sort of merchant. There’s a few people that do business that way, and I think it’s the right way, which is metaphorically, I’ll put a fiver on the table, call me if you need me, rather than let me get into a bidding war - look how the last one turned out. You got into a bidding war, you got the administrator being able to court different people, suggesting they all pay different prices.

"They got an absurd bid for £50m, which couldn’t be completed. Of course, they had the wonderful opportunity of taking a 10 per cent deposit out of it, which gave them the funding mechanism.

"But Mike Ashley will do it the way he wants to do it, and that’s exactly how a purchaser should do it. They shouldn’t be hurried along."

Bord spent over £4m funding Wednesday's losses when he enjoyed preferred bidder status, but removed himself from the takeover race, ultimately deeming that his bid outweighed that of the South Yorkshire side's value.

The Owls' next preferred bidder will initially be subject to the EFL's Owners' and Directors' Test, and the Independent Football Regulator will gain the power to pass takeovers by May.

To avoid a 15-point deduction next season, the Hillsborough club's prospective owners will have to pay the creditors 25p in the pound.

Wednesday have been deducted 18 points this season, which heavily contributed to the fact that they were relegated in February, after being beaten by local rivals Sheffield United.

Meanwhile, as reported by Alan Nixon via Patreon, Storch's bid team are willing to take a 15-point penalty next term.

Sheffield Wednesday takeover developments may make Owls faithful anxious

Ashley is willing to splash £100m if he completes his Wednesday takeover, so Owls supporters may be annoyed that the former Newcastle United owner has been outbid.

Furthermore, if Storch becomes the Hillsborough side's next owner, fans will be anxious about the prospect of a 15-point deduction next season.

The Wednesday fanbase has been subject to plenty of heartache already this season, with former owner Dejphon Chansiri's financial mismanagement and their consequent time in administration causing their relegation from the Championship to League One.

If they are handed further deductions next season, they would be staring at the serious possibility of further relegation to League Two, and several star players have left Hillsborough in recent months.