Simon Jordan has shared his thoughts after reports emerged that Mike Ashley has been outbid in his attempt to purchase Sheffield Wednesday, who remain in administration.
Ashley’s offer for the club is believed to be around £10 million, significantly lower than other proposals currently on the table. That development appears to leave American businessman David Storch as the leading candidate to take control of the Owls.
The club’s administrators, Begbies Traynor, must now decide who will become the next preferred bidder after James Bordwithdrew from the process. A decision could reportedly be made before the end of the week if negotiations move quickly.
On-field struggles overshadowed by takeover situation
Sheffield Wednesday’s problems extend beyond the boardroom. A defeat against Derby County on Saturday stretched their winless run to 14 matches across all competitions.
However, football results have taken a back seat after the club’s relegation was confirmed. The priority now is securing new ownership and beginning preparations for the 2026–27 season in EFL League One.
Jordan backs Ashley’s approach
Despite Ashley’s bid reportedly being the lowest, some observers believe his business track record could make him an ideal owner for the Hillsborough club. Reports have also suggested the former Newcastle United owner would be willing to invest up to £100 million into infrastructure and the club’s operations if he completed a takeover.
Speaking on talkSPORT, Jordan defended Ashley’s method of approaching the deal.
Jordan said Ashley would likely purchase a football club strictly on his own terms and that such an approach is sensible in negotiations. He suggested Ashley’s strategy resembles placing a modest offer on the table and waiting to see if it is accepted rather than becoming involved in a costly bidding war.
Jordan also referenced a previously reported £50 million bid for Wednesday, which he described as unrealistic and ultimately unsuccessful.
According to Jordan, allowing administrators to encourage competing bidders to raise their offers can create inflated valuations, something Ashley appears keen to avoid.
Potential consequences for Wednesday
Any preferred bidder will first have to pass the English Football League Owners’ and Directors’ Test. In the near future, the Independent Football Regulator will also have authority to approve takeovers.
While Ashley’s potential £100 million investment could excite supporters, reports suggest Storch’s consortium may instead emerge as the successful bidder. That possibility could cause concern among fans due to fears of further punishment.
Wednesday supporters have already endured a turbulent campaign following financial mismanagement under former owner Dejphon Chansiri, which led to the club entering administration and ultimately suffering relegation from the EFL Championship.
The club have already been deducted 18 points this season, a penalty that played a major role in their relegation being confirmed in February after defeat to rivals Sheffield United.
Looking ahead, the new ownership group would need to pay creditors 25 pence in the pound to avoid a further 15-point deduction next season. Reports suggest Storch’s consortium may be prepared to accept that penalty if their takeover goes through.
With the club already preparing for life in League One and several key players having left Hillsborough in recent months, the uncertainty surrounding the takeover continues to leave the Wednesday fanbase anxious.
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