Fresh Sheffield Wednesday takeover update emerges ahead of Watford clash | OneFootball

The Owls' administrators could name their second preferred bidder in the coming days

Sheffield Wednesday have been in takeover limbo for many months now, but there is a suggestion that such circumstances could be coming to an end in the coming weeks.

The Owls' current situation has largely stemmed from mismanagement in the final years of Dejphon Chansiri's dramatic and controversial 10-year reign as chairman at Hillsborough.

After the Thailand-based businessman brought the aforementioned period to a much-needed close on October 24th by placing the South Yorkshire outfit into administration, Wednesday have been under the joint control of Paul Stanley, Julian Pitts and Kris Wigfield of Begbies Traynor, as they search for fresh and sustainable long-term investment to push the club forward into a positive new era.

Unsurprisingly, given the Steel City side's overall stature and pedigree within English football, several high-profile figures within the world of business have been heavily linked with takeover moves throughout the process - and it is one which has seen its fair share of twists and turns.

Indeed, despite the likes of Mike Ashley, David Storch and John McEvoy constantly being the subject of many takeover reports in late 2025, Begbies Traynor granted preferred bidder status to James Bord, who fronted a consortium which placed a £47.8m offer on the table.

However, shortly after Wednesday suffered the earliest-ever relegation in the history of the EFL on February 22nd after just one win all season and an overall deduction of 18 points, it was revealed that Bord's consortium had withdrawn from the process.

The administrators, however, were keen to stress that the process would not go back to square one and that they hoped a resolution to the saga would be found extremely quickly.

And, in a fresh turn of events ahead of Henrik Pedersen's side facing off against Watford in S6 on Tuesday night, there has been yet another twist - only this time it appears to be a positive one for supporters.

David Storch emerges as front-runner in second Sheffield Wednesday preferred bidder race

That's because, according to the Sheffield Star, the aforementioned Storch has emerged as the front-runner when it comes to being named as the second preferred bidder.

It had been suggested that the American would be in a two-horse race with Ashley, who has been looking for a first route back into football ownership for nearly five years after selling up his majority stake in Newcastle United for £305m to the club's Saudi Arabian investors.

Storch had previously failed to outbid the Bord-led bid in December after it was claimed that he had joined forces with McEvoy in an attempt to become one of the club's new owners.

However, with Bord withdrawing his offer from the process, Storch expressed his confidence in being able to strike a deal to BBC Radio Sheffield, and now it has emerged that he is currently in the driving seat to be granted such status.

It has been claimed that the man who was previously linked with a takeover of Plymouth Argyle is working with Tom Costin when it comes to fronting up a successful bid. Costin also currently has stakes in Le Havre, CD Leganes and Cancun FC.

Storch is also said to be on UK soil and could even be present at Hillsborough for the match against Watford, whilst it has been widely reported that Ashley has been outbid after submitting the lowest bid by some distance.

Sheffield Wednesday supporters will hope David Storch bid has a different outcome after James Bord saga

As things stand, this is news that will certainly please Wednesday fans, as the club looks to ensure some form of stability is provided ahead of next season in League One.

New investment could ensure that all current transfer and registration restrictions are limited, which would be a major boost in what would still be a challenging season due to the sheer amount of player and staff turnover at the club.

Although Ashley is better known in the circles of English football ownership, it must be said that the 61-year-old continues to split opinion, whilst the same cannot be said for Storch at this moment in time.

However, supporters will also be hoping that the takeover process is smooth from this point onwards after the drama which ensued in the final weeks of Bord's period as preferred bidder.