Sheffield Wednesday administrators Begbies Traynor are currently awaiting an improved bid from the Storch Family, with interest also coming from Mike Ashley and James Bord.
Journalist Alan Nixon reports that the Storch-led group submitted an offer last week, but it failed to reach the £30 million valuation placed on the club. Wednesday have been in administration since 24 October, triggering an automatic 12-point deduction under EFL regulations.
Henrik Pedersen’s team were later hit with a further six-point penalty for additional rule breaches, leaving the club facing an uphill battle to avoid relegation to League One this season.
Begbies Traynor are overseeing the search for a new owner following Dejphon Chansiri’s exit. The former owner has also received a three-year ban from owning or directing any EFL club.
Storch Family still in the frame
Despite John McEvoy’s withdrawal from their joint bid, the Storch Family remain involved in the takeover process. Administrators are still waiting to see whether the group will submit a revised proposal that meets the £30 million reserve price, after their latest offer again fell short.
At present, James Bord’s bid is believed to be the highest on the table, though three parties remain in contention for control of the club. The prolonged bidding process has experienced multiple delays, and there is still no clarity on when a preferred buyer will be announced.
The Storch Family are understood to be working alongside a prominent advisory firm and an experienced UK-based lawyer to guide them through the acquisition.
Concerns have also been raised that any takeover failing to meet the £30 million threshold — something Mike Ashley is reportedly prepared to attempt — could result in further points deductions next season if creditors are not paid at least 25p in the pound once a sale is completed.
Need for a new strategy
The Storch Family’s partnership with McEvoy had previously strengthened their position, combining financial backing and resources. However, reports suggesting the consortium was unable to provide a required non-refundable deposit damaged confidence in the bid.
Nonetheless, supporters may take some encouragement from the fact that the Storch Family remain interested despite McEvoy stepping away.
For Begbies Traynor, securing the full £30 million remains the priority, as their duty is to maximise returns for creditors.
If neither the Storch Family nor Ashley increase their offers, James Bord could emerge as the preferred bidder — although his past involvement with Sheffield United and potential issues with the EFL’s Owners’ and Directors’ Test could yet complicate matters.
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