Former Newcastle United owner Mike Ashley has emerged as a leading contender to complete a dramatic takeover of financially stricken Championship club Sheffield Wednesday.
The Battle for Control Narrows
The historic Yorkshire club, which has been in administration since October following the turbulent reign of Dejphon Chansiri, is now at a critical juncture. Administrators from Interpath Advisory have been sifting through offers, with three parties having provided proof of funds. However, the race is now reportedly narrowing to a two-horse contest.
According to reports, concerns have arisen over the funding of one bidder, potentially jeopardising their ability to pass the EFL's stringent Owners' and Directors' Test. This development has positioned Mike Ashley and a consortium led by Americans John McEvoy and the Storch family as the two favourites to assume control at Hillsborough.
Ashley's Potential Football Return
A successful bid would mark Mike Ashley's first return to football ownership since he sold Newcastle United to the Saudi-backed Public Investment Fund in October 2021. While his current offer is understood to be the lowest of those submitted, it is not expected to face any regulatory obstacles from the EFL.
The highest bid is believed to have come from a group fronted by James Bord, who also has connections to Dunfermline Athletic and Sheffield United. Despite the financial appeal, this offer is thought to face potential complications, leaving the field more open.
Decision Time Looms for Administrators
Momentum is building towards a resolution, with one of the two leading parties potentially being granted a period of exclusivity as soon as Friday, 19th December 2025. A key meeting with the McEvoy consortium was scheduled for Thursday, 18th December.
In a statement earlier this month, joint administrator Kris Wigfield acknowledged the urgency but stressed the need for due diligence. "We have received a number of strong, credible offers," Wigfield said. "Rushing this stage would serve neither objective [of maximising returns to creditors and securing the right long-term owner]. Discussions with bidders remain active, detailed and constructive."
The administrators had initially aimed to name a preferred bidder by mid-December but concluded more time was needed to ensure the best outcome for the club's future. For the loyal Owls supporters, a conclusion to this period of intense uncertainty cannot come soon enough.
