"Sheffield Wednesday's administrators will meet with a representative of Mike Ashley on Thursday after the preferred bidder pulled out of a proposed 47.8million takeover, the Press Association understands. There have been two expressions of interest in buying the club since a James Bord-led consortium withdrew on Wednesday, PA understands, with former Newcastle owner Ashley also exploring a deal."
"The group spent more than 4m on running costs during the last two months but announced on Wednesday morning it was withdrawing from the process as the scale of its original bid was no longer justifiable and could not be renegotiated."
"A statement from administrators revealed Bord's offer would have delivered a full exit from administration, enabling the club to begin the 2026-27 season without a points deduction, but the takeover process would not have to restart from scratch."
Sheffield Wednesday's administrators are meeting with a representative of Mike Ashley following the withdrawal of James Bord's consortium from a proposed £47.8 million takeover. Bord's group, granted exclusivity on Christmas Eve, spent over £4 million on running costs during two months but withdrew after determining the original bid scale was no longer justifiable and could not be renegotiated. The takeover would have provided a full exit from administration, allowing the club to start the 2026-27 season without points deduction. Two additional expressions of interest have emerged since the withdrawal, with former Newcastle owner Ashley now exploring a potential deal.
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Read at www.independent.co.uk
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