Simon Jordan has commented on the news that Mike Ashley has been outbid in his bid to buy Sheffield Wednesday, who are still in administration.

Ashley’s bid on Wednesday was said to be worth roughly £10 million and was the lowest offer by a significant margin, leaving American investor David Storch as the front-runner to buy the Owls.

Begbies Traynor, the South Yorkshire outfit’s administrators, must now decide on a new preferred bidder after James Bord’s takeover attempt failed, which might happen by the end of this week if things move quickly.

Wednesday’s defeat to Derby County on Saturday extended their losing streak to 14 games in all competitions, but on-field considerations are of little consequence now that relegation has been confirmed; it’s all about confirming a takeover and preparing for the 2026-27 League One season.

Simon Jordan supports Mike Ashley in the Sheffield Wednesday takeover ruling.

Liam Palmer, an Owls mainstay, has explained how Wednesday’s takeover uncertainty has affected the squad throughout their extended stretch of bad form in the Championship.

And, while reports suggest that Ashley has the lower offer on the table, many believe that due to his business acumen, he would be the ideal owner at Hillsborough, especially given claims that he would be willing to invest £100 million in the club’s facilities and general operations right away.

On talkSPORT on Tuesday, ex-Crystal Palace chairman Simon Jordan stated, “I think Mike will buy a football club exactly the way Mike wants to buy it, and I believe exactly the right way to do it.”He is the sort of trader. There are a few people that do business that way,

and I believe it is the correct approach: symbolically, I’ll place a fiver on the table, and you can contact me if you need me, rather than allowing me to get into a bidding war – look how the last one ended. The administrator was able to engage in a bidding war and recommend varying prices to various individuals.They received an insane bid for £50 million,

which could not be finished. They were able to secure funds with a 10% deposit.But Mike Ashley will do it his way, which is exactly what a buyer should do. They should not be hurried along.”

Bord spent more than £4 million subsidizing Wednesday’s losses when he was the favored bidder, but he dropped out of the takeover competition after deciding that his bid eclipsed the South Yorkshire side’s value.

The Owls’ next preferred bidder will be subject to the EFL’s Owners’ and Directors’ Test, and the Independent Football Regulator will have the authority to approve takeovers by May.

To avoid a 15-point deduction next season, the Hillsborough club’s prospective owners must pay the creditors 25p each pound.

Wednesday had been deducted 18 points this season, which contributed significantly to their relegation in February after losing to local rivals Sheffield United.

Meanwhile, as Alan Nixon wrote on Patreon, Storch’s bid team is willing to accept a 15-point penalty next term.

Sheffield Wednesday’s takeover developments may leave Owls supporters nervous.

Ashley is willing to spend £100 million if he completes his Wednesday takeover, therefore Owls fans may be upset that the former Newcastle United owner was outbid.

Furthermore, if Storch becomes the Hillsborough club’s new owner, fans will be concerned about a 15-point deduction next season.

Wednesday fans have already experienced a lot of pain this season, with former owner Dejphon Chansiri’s financial mismanagement and subsequent period in administration leading to their relegation from the Championship to League One.

If they receive additional deductions next season, they face the significant threat of being relegated to League Two, and numerous key players have left Hillsborough in recent months.