Sheffield Wednesday’s alternatives to James Bord are emerging, including former Newcastle United owner Mike Ashley.

Mike Ashley’s interest in Sheffield Wednesday originally surfaced in October 2025, but other offers were favored shortly thereafter. However, the 61-year-old’s interest has never waned.

At one point, both Ashley and John Textor were considering Wednesday. However, James Bord appeared to be in control and making progress in discussions, with the necessary inspections and testing being performed to ratify a Sheffield Wednesday takeover.

Ashley remained interested on Wednesday throughout, with rumors last month saying that Ashley wanted a deal in case Bord’s purchase failed. There have been other updates surrounding his interest in purchasing the South Yorkshire outfit.

Carlton Palmer and Michael Vaughan respond to Sheffield Wednesday and Mike Ashley’s latest

Alex Crook recently stated that Ashley was ‘waiting in the wings’ for a Wednesday deal. Just days later, it was reported that three buyers, including Ashley, were looking at Wednesday again.

According to John Percy of The Telegraph, Ashley is planning to increase his first £20 million offer to acquire Wednesday. With relegation confirmed in recent weeks, Sheffield Wednesday fans are hoping for some good news and a sense of direction.

After spending a little more than five years as a Hillsborough player, Carlton Palmer may now consider himself an Owls supporter. He helped them win the League Cup in 1991 and appeared in 229 games for Wednesday, 102 more than any other team.

Speaking of Wednesday supporters, cricket star Michael Vaughan reacted to the newest news about Ashley, and Palmer was there to answer in a conversation on X (previously Twitter).

Vaughan just replied, “Good,” while Palmer explained why Ashley could be the man to lead them ahead. He stated, “I have always believed [he is] the best individual to lead the club forward. I haven’t heard a single negative comment about him from anyone I know who works for him. Deep pockets understands football. “Astute businessman.”

The major concern with Sheffield Wednesday bringing in Mike Ashley

The main disadvantage of the former Newcastle United manager is that Wednesday could face a points deduction if Ashley completes a move at the first fee he demanded from the club back in November.

It might be a hammer blow to Wednesday’s chances on the pitch next season, since it is alleged that they would be punished 15 points before kicking a ball in 2026/27, regardless of division.

Ashley’s bid did not surpass the £30 million level required to avoid penalty. However, if his current proposal is bigger, it may be able to overcome this obstacle. However, it is unclear how high he will go.

Sheffield Wednesday need a new owner shortly, so plan for the 2026/27 EFL League. One season can begin immediately. Ownership clarity, even with Ashley rather than Bord or Textor, enables choices on the manager, player contracts, recruitment, budget, and long-term strategy to be made.

Without it, critical decisions are stalled, targets sign elsewhere, and more uncertainty spreads throughout the organization. A new owner can establish direction, ratify leadership, and start assembling a competitive roster early in the window. The sooner that domino falls, the sooner every other decision, from staffing to transfers, can be made with confidence.