Why Mike Ashley is still in the Sheffield Wednesday takeover mix | OneFootball

Mike Ashley could yet still have a role to play in the Sheffield Wednesday takeover situation

Mike Ashley was involved in the negotiating process for Sheffield Wednesday prior to a preferred bidder being named.

The offer led by James Bord was chosen by the Owls’ administrators Begbies Traynor as the leading option to replace Dejphon Chansiri back in December.

However, uncertainty is growing around the bid due to how much time has passed since then, with the club awaiting ratification from the EFL.

If the league does not approve of Bord’s offer to buy the Yorkshire outfit, then that could put the Championship side back to square one.

No timeline has yet been given for when a decision could be made by the EFL regarding Bord’s offer, with Sheffield Wednesday left in limbo until then.

Mike Ashley waiting in the wings for Sheffield Wednesday takeover

Ashley has experience of football ownership in England, having previously been a majority shareholder of Newcastle United.

It was reported in November that the 61-year-old was ready to make an offer to buy Sheffield Wednesday just four or so years on from his sale of the Magpies to the Public Investment Fund of Saudi Arabia.

However, he lost out in the race to be named the preferred bidder, with it being claimed that the £32.5 million bid by Bord’s consortium far exceeded the other options.

But it is understood that Ashley is still interested in a potential deal to buy the Championship side, should the EFL deny Bord the chance to complete the takeover of the club.

The Storch family were also involved in the bidding process, and it’s been suggested that the pair are waiting in the wings to swoop in with another attempt to buy the Yorkshire outfit should anything change with the current takeover situation.

It’s believed that there are some questions regarding whether Bord and partner Felix Roemer will pass the EFL’s Owners and Directors’ test.

If they are deemed unfit to own a club within the EFL, then this will reopen the bidding process to buy Sheffield Wednesday, presenting a potential pathway for Ashley to return to ownership with a successful purchase of the Owls.

Sheffield Wednesday stuck in takeover limbo

Begbies Traynor are still overseeing the day-to-day running at Sheffield Wednesday while this uncertainty persists.

The administrators chose Bord as their preferred option to buy the Owls back in December, but the club are still waiting for ratification of their takeover from the EFL.

The EFL must give approval of the deal before the takeover can be completed, meaning the Owls’ January transfer business was overseen by the administrators.

Supporters were left frustrated with the likes of Bailey Cadamarteri and Yisa Alao being sold to Wrexham and Chelsea, respectively.

However, Begbies Traynor had to act in the immediate interests of Sheffield Wednesday, ensuring that they had enough cash to get by while the ratification process is ongoing.

It was reported that the Yorkshire outfit earned a seven-figure sum for the sale of Cadamarteri, while Alao’s sale was believed to be worth around £500,000.

Henrik Pedersen’s side are also set to be relegated to League One, and they could officially face the drop later this month when they face bitter rivals Sheffield United on 22 February, which could come before a decision is made by the EFL regarding Bord’s bid.