According to Telegraph journalist John Percy, former Newcastle United owner Mike Ashley plans to submit a new bid to buy crisis team Sheffield Wednesday within the next 24 hours.

The 61-year-old submitted a £20 million offer to administrators in November and has remained interested in acquiring the League One club.

Wednesday’s administrators are anticipating final offers by the weekend, with Ashley and American investor David Storch the two leading candidates to succeed Dejphon Chansiri as owner.

The Owls’ anticipated takeover by James Bord fell through last month after he was named the preferred bidder at the end of 2025.

Ashley is likely to table his bid on Friday.

According to the Telegraph, the Sports Direct owner is thinking about his next move, but he is sure to make another bid on Wednesday because his interest has never waned.

Ashley had made an offer of roughly £20 million to administrators Begbies Traynor on November 25, but Bord’s offer was picked as the one they intended to pursue.

Any interested parties must meet the criteria of 25p in the pound to creditors, or the team will be issued another 15-point deduction in the League. One at the start of next season, in addition to the 18 points deducted this season.

Ashley sold Newcastle United to Saudi Arabia’s Public Investment Fund for £300 million in 2021, but he is now trying to return to football at Hillsborough.

While he wasn’t the most popular figure at St James’ Park, he understands how to operate a football team while still being a successful businessman. That expertise could be critical for Wednesday.

Bord Collapse Hit Wednesday Hard

After winning exclusive rights to take up Sheffield Wednesday in December, Bord and his consortium withdrew because they believed the club’s valuation was significantly lower than the £47.8 million they had initially offered.

Bord had contributed more than £4 million to assist manage the club since being awarded exclusivity, before withdrawing in a blow to both the club and its supporters.

Prospective purchasers already know Sheffield Wednesday will be in the League. After their relegation from the Championship was confirmed against archrivals Sheffield United at Bramall Lane last month, one club will play next season.

Saturday’s defeat to Southampton made it 12 league defeats in a run for the Owls and Henrik Pedersen, forcing the club to sell key players like as Barry Bannan and Yan Valery in the January transfer window.

Their squad is depleted in terms of experienced players, and the club will want the problem resolved as quickly as possible so that they can begin to prepare for what may be another difficult season in 2026-27.