News Story

Mike Ashley has lodged a bid to buy Sheffield Wednesday but it is understood to be the lowest of four offers on the table.

The largest offer for the club is understood to have been made by American billionaire investor David Storch, with former Newcastle owner Ashley’s offer the lowest to have been received.

However, the Press Association understands none of the four bids would avoid the Owls incurring a 15-point penalty to start the 2026-27 season.

To do that, the offer would need to pay non-football creditors 25p in the pound, which would mean former owner Dejphon Chansiri receiving £15million.

The club’s administrators are believed to be working to conclude a deal quickly after the original preferred bidders, a consortium featuring former professional poker player James Bord, withdrew their offer on February 25.

Wednesday were placed in administration last October, and their relegation to League One has already been confirmed.

American businessman Storch, who has worked in the aviation industry, is the founder and managing partner of investment firm Arise Capital Partners.

The Storch group has been linked with a takeover at Cardiff in the past.

Ashley’s negotiations with Sheffield Wednesday are understood to have been led by senior executives from the Frasers Group. He bought a controlling stake in Newcastle in 2007 before selling the Magpies to a consortium led by the Saudi Public Investment Fund (PIF) in 2021.

A spokesperson for Ashley has been approached for comment regarding the Wednesday bid.

The Bord group had been the preferred bidder, having offered £47.8million for the club.

The club administrators have been contacted for comment.