Sheffield Wednesday are back at square one in their bid to exit administration, with Begbies Traynor now looking for the best option to James Bord.

The Stanmore-born entrepreneur and poker player was selected Wednesday’s preferred bidder on Christmas Eve 2025, but after two months of little movement, Bord’s group opted to out from the running to buy the struggling South Yorkshire company.

It has discovered that Bord and his group spent a remarkable £47.8 million to make their offer the preferred one, which was much above the estimated £30 million valuation, but new proposals are likely to come within the level needed to avoid a 15-point loss in League. One season later, there were rumors that Bord’s proposal was substantially greater than the club’s actual worth.

That will bring new and old parties to the fore, with David Storch and ex-Newcastle United owner Mike Ashley both expressing renewed interest – but might a Scandinavian billionaire be Wednesday’s savior?

Is Anders Holch Povlsen pondering a move to Sheffield Wednesday?

During Sheffield Wednesday’s initial bidding process in late 2025, Danish investor Anders Holch Povlsen emerged as a potential buyer.

However, shortly after that allegation surfaced, The Athletic’s Matt Slater shot it down, claiming that Povlsen had no plans to make a bid for the Owls.

However, the name of the 53-year-old reappeared on February 26 in the Sheffield Star, which reported that Povlsen’s interest might be reignited with the price point now likely to be significantly lower in order to get the Owls out of administration.

In less than 24 hours, however, that potential route to takeover has been essentially closed.

According to the BBC’s Dale Johnson, Povlsen will not repeat his interest in taking over Wednesday, making the aforementioned Ashley the front-runner for both Wednesday and Hillsborough.

Anders Holch Povlsen’s decision undoubtedly puts Mike Ashley at the forefront of the Sheffield Wednesday takeover.

According to Forbes, Povlsen is worth a staggering $16.9 billion (£12.5 billion). He owns the apparel company Bestseller and is the largest shareholder in the well-known fashion retailer ASOS.

He has ties to the United Kingdom through his degree at Angela Ruskin University, and he has utilized some of his wealth to become the largest individual private landowner in the United Kingdom, thanks to a series of purchases in the Scottish Highlands.

Not only that, but Povlsen has extensive experience in football ownership. He has owned 95.5% of Danish team FC Midtjylland since 2023, and the club won the Danish Superliga in his first year of ownership. He has also been linked to a number of UK clubs, including Dundee United and Hibernian.

Sheffield Wednesday, on the other hand, would have provided an entry point into English football for a man who clearly has considerable commercial interests in the nation, with ASOS’ largest fulfilment centre in England located in nearby Barnsley.

Despite his name appearing as a prospective contender for Owls ownership, it appears like Povlsen will once again be discarded before being fully evaluated, which is a shame for Wednesday fans who were beginning to get excited about the prospect of a Scandinavian revolution in S6.

Mike Ashley, who hasn’t been in football since October 2021 when he sold Newcastle United to Saudi Arabia’s Public Investment Fund and the Reuben Brothers, is expected to be favoured, though he was spotted looking around Reading FC’s stadium in 2023 and previously owned Coventry City’s CBS Arena.

With his business acumen, Ashley isn’t the worst choice in the world by a long shot, but the prospect of someone as clean-cut and wealthy as Povlsen piqued the interest of many Sheffield Wednesday fans; however, it appears that they can now forget about that potential takeover entirely.