Sheffield Wednesday takeover collapses with ex-Premier League owner waiting in the wings

Sheffield Wednesday’s proposed takeover has collapsed after the preferred bidder withdrew.

The Owls had selected a consortium led by James Bord to proceed with their purchase of the club on Christmas Eve.

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However, the takeover had yet to be completed as authorities were consulted on whether they would pass the EFL’s Owners and Directors Test.

According to The Star, Bord’s consortium have signalled they are withdrawing from takeover proceedings.

A consortium member has confirmed the group will not be re-entering their bid to buy the club.

Wednesday entered administration in October, ending the reign of former owner Dejphon Chansiri.

The club were subsequently deducted 12 points as a result before a further six-point deduction in December for failing to meet payment obligations.

News of the takeover collapse comes just three days after the Owls were relegated to League One.

Henrik Pedersen’s side are currently on minus seven points at the bottom of the table.

Their relegation was confirmed by Sunday’s 2-1 defeat to Sheffield United in the Steel City derby at Bramall Lane.

As a result, they became the first club in EFL history to be relegated in February.

Wednesday are set to return to action away to Norwich City on Wednesday night.

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Who could save Wednesday?

talkSPORT revealed this week that Mike Ashley is still waiting in the wings to step in to buy the club.

The former Newcastle United owner had been on hand in the event the takeover fell through.

Ashley’s offer is short of administrators Begbies Traynor’s valuation, though.

The 61-year-old previously owned Newcastle for 14 years between 2007 and 2021.

However, ex-Crystal Palace chairman Simon Jordan has ruled out becoming Wednesday’s next owner.

Speaking on talkSPORT on Tuesday, he discussed the prospect of Ashley buying the club.

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Jordan admitted: “I’m amazed that Mike wanted to do it, to be honest.

“I don’t think he had the greatest of times at Newcastle, but apparently he just loves football and wants to be involved again, but only on his terms.”

As for any potential involvement of his own, he added: “I ran a football club for ten years. It didn’t end the way I wanted it to. I have no desire to run another one.

“Ryan [Howsam] would have had me go up there and run it for him, which I didn’t want to do. I’ve got other things to do with my life.

“I’ve run a football club. I had ten years of it.”