Sheffield Wednesday’s long-running takeover crisis took another turn this week when the proposed takeover by James Bord’s group fell through.

Over four months after former owner Dejphon Chansiri’s departure in October, Wednesday is still in administration, and they are starting over in their quest for new owners.

It appeared that the Owls were on the verge of a takeover after Bord’s consortium was named the preferred bidder on Christmas Eve, but amid concerns about whether they would be approved by the EFL, they withdrew from the race to buy the club on Wednesday, revealing that the due diligence process revealed their initial bid was significantly higher than the club’s true valuation.

While the developments concerning Bord are a setback for Wednesday, it appears that there are numerous suitors for the club, with some of the previously interested groups contacting the team’s administrators earlier this week.

The Owls’ Relegation to the League One was confirmed last weekend following a defeat to Steel City rivals Sheffield United, but their off-field future remains uncertain, so we wrap up all the current takeover news.

Mike Ashley reps undertake further negotiations with Sheffield Wednesday after Owls proposal is exposed.

Former Newcastle United owner Mike Ashley has been associated with Wednesday throughout the takeover process, and it appears he is still interested in acquiring the Owls.

Ashley has not owned a football club since selling the Magpies to a Saudi-led consortium for £305 million in October 2021, but he has set his sights on Wednesday in recent months, and his initial approach of £20 million was rejected in November.

However, with Bord out of the picture, Ashley has revived his interest in the Owls, and the 61-year-old’s representatives are said to have met with the club’s administrators this week in an attempt to negotiate a deal.

In a sign of how serious Ashley is about buying Wednesday, he is said to be willing to invest £100 million in the club right away, with that figure thought to be the amount required to make the necessary improvements to the stadium, training ground, and squad, while he has also begun to identify potential candidates to fill key positions at Hillsborough.

Anders Holch Polvsen’s update surfaces amid Sheffield Wednesday takeover speculation

Anders Holch Povlsen, a Danish millionaire, was also credited with an interest on Wednesday, prior to Bord’s group being named preferred bidder.

Povlsen, worth a remarkable $16.9 billion (£12.5 billion), owns clothing firm Bestseller and is the largest stakeholder in online website ASOS, as well as a 95.5% ownership in Danish club FC Midtjylland.

When Povlsen was first linked with the Owls last year, The Athletic’s Matt Slater claimed that he was not planning to make a bid for the club. However, the 53-year-old’s name surfaced again this week, with The Star reporting that he could make a move now that the asking price is around £10-20 million, down from the initial valuation of £35 million or more.

However, Povlsen has soon been thrown out of the race, with BBC’s Dale Johnson announcing that he would not take over at Hillsborough, disappointing some Wednesday fans.

Dejphon Chansiri is going to lose millions owing to James Bord’s conduct.

Former Owls owner Dejphon Chansiri will bear the brunt of the consequences of James Bord’s withdrawal from takeover proceedings.

The scale of Bord’s proposal meant that all of Wednesday’s creditors would be repaid 25p in the £1, and with Chansiri being the club’s major creditor, he was set to benefit tremendously to the tune of roughly £15 million.

The new bidders vying for a Wednesday takeover are expected to come in much lower than Bord and fail to meet the level required to pay Chansiri what he was supposed to get, leaving the club unable to escape a 15-point deduction next season.

And, as Alan Nixon observed, Chansiri could have used the money, as a loan he took out against Hillsborough Stadium is due for repayment – and Bord’s cash would have gone a long way toward paying it off.

Now, the reviled Thai businessman will have to dive into his own cash to repay the loan, as he may only receive £1 million on the future sale of Wednesday, which is a significant fall from what he had hoped for.

Simon Jordan reacts to James Bord and Sheffield Wednesday’s twist amid Mike Ashley forecast.

Jordan may not return to the bargaining table with Howsam, but he did voice his opinion on the latest happenings at Hillsborough this week.

He questioned why Bord’s consortium put a proposal as high as £47.8 million for Wednesday.Jordan stated on talkSPORT, “These crypto clowns have spent £4 million of their own money to get precisely nowhere.””They have a £4 million cushion in case another bidder comes in.

“The bid of £47.8 million is excessive for the amount being purchased, and there are additional considerations to consider.Looking at it from a distance, I believe they jumped before they were pushed in terms of possibly failing to comply.

“They’ve taken the bull by the horns and realised that actually they might not get through compliance.”It cost them £4 million and gave the administrators a £4 million buffer; what a way to waste money.”

Jordan speculated on the next steps for the Owls after Bord’s group withdrew from the takeover process. He believes Ashley may be a potential buyer if he can negotiate a fair price.Jordan indicated that Mike Ashley is in the background.Mike Ashley is likely to purchase this football club if he can secure the desired price.”It’s a hard yard.”You’re going down to League One, and if you incur a 15-point penalty, you’ll be fighting for relegation to League Two.”