Sheffield Wednesday have already suffered a painful demotion to League One was mathematically confirmed following a particularly difficult season for the Owls, both on and off the pitch.

Sheffield Wednesday had a terrible summer in which they were able to get rid of owner and chairman Dejphon Chansiri, but at the expense of the club going into administration.

The club remains in administration, which is perhaps surprising, if not a bit annoying, as we approach the spring and their big renovation in the summer – still without a takeover completed.

Wednesday showed some fight and resolve in the first several weeks of the season under Henrik Pedersen, who succeeded current Rangers manager Danny Rohl just before the season began, but times have been too tough to sustain that.

James Bord, a former analytical consultant for arch-rivals Sheffield United and a professional poker player, has had his takeover fall through, and another prospective buyer, Mikel Ashley, may now face the same fate.

Mike Ashley may miss out on the Sheffield Wednesday takeover.

According to Alan Nixon on Patreon, former Newcastle United owner Mike Ashley is once again seeking to aggressively negotiate a low-cost deal to buy Sheffield Wednesday.

However, now that Ashley has made an offer for the South Yorkshire giants, Nixon reports that insiders at the club have branded it as’very cheap’.

According to Nixon, Ashley regretted his choice not to upweight his Derby County proposals during their administration issues, and his low ball offer for the Rams was also turned down.

Ashley was laughed off by Hillsborough management when Bord came in with a deal that Nixon characterizes as’stupidly high,’ and, with Bord no longer in the picture, Ashley will undoubtedly believe he has an opportunity to step in on Wednesday.

However, as Nixon points out, Ashley may be correct in his assessment of the club’s low value, but the 61-year-old is jeopardizing another opportunity to return to the sport and take over another so-called’sleeping giant’.

Sheffield Wednesday will be wary of Mike Ashley.

The old adage ‘beggars cannot be choosers’ comes to mind in this case, but the truth is that Wednesday should still be cautious of Ashley, considering his reputation among Newcastle United’s fans.

Ashley, the founder and former CEO of Frasers Group, formerly known as Sports Direct International, rose to prominence in the United Kingdom as the owner of Newcastle United from 2007 until 2021.

Newcastle was relegated from the Premier League twice during his tenure at St James’ Park, which he rebranded on several times as the Sports Direct Arena and St James’ Park @ Sports Direct Arena.

The club stagnated and became a laughing stock due to chaotic behind-the-scenes activities and some weird transfer dealings, frequently failing to refill an often weak roster.

Ashley eventually sold out to the Saudi Arabian Public Investment Fund in 2021, after multiple reported efforts, and he has since allegedly been ‘playing it cool’ about his desire to return to the sport, according to Nixon.

Sheffield Wednesday remain in a grave situation, and it is possible that Ashley will become their rescue – but Owls fans should be skeptical.