Mike Ashley, former Newcastle United owner, has made an offer to buy Sheffield Wednesday, and according to BBC correspondent Andy Giddings, his proposal is the lowest by a ‘substantial margin’.

Sheffield Wednesday’s takeover problem has been rumbling on for months, with fans eager for a resolution.

Their season has already been a disaster, with relegation to League One certain, but they could find a silver lining if a buyout is secured before the 2026/2027 season.

At the end of 2025, a group led by James Bord was granted exclusive rights to take over the Owls, but the deal fell through, leaving Wednesday in search of new owners.

Mike Ashley and Sheffield Wednesday’s Takeover Update

According to BBC journalist Giddings, former Newcastle owner Ashley is reported to have been outbid in his bid to buy Sheffield Wednesday.

Ashley’s offer is said to be the lowest by a ‘significant margin’, making it doubtful that he would take over very soon.

Understand reports suggesting Mike Ashley has been outbid in his attempts to buy Sheffield Wednesday are correct.

Sources say it was the lowest bid by a ‘considerable margin.’ #swfc | @footballheaven

— Andy Giddings (@SportGids1) March 10, 2026

It surely does not mean Wednesday is back at square one, as Ashley is one of several bidders. According to reports from late last week, the Championship team has received various proposals, including from US investor David Storch.

Storch Highest Sheffield Wednesday Bidders

According to rumors, Storch is currently the largest bidder as of Sunday. Both Ashley and Storch want to take over Sheffield Wednesday, although the latter has made a greater bid.

Former Sunderland owner Charlie Methven is reportedly rumored to be involved.

Despite a potential takeover, Wednesday’s status remains perilous, with the possibility of yet another points deduction moving into the 2026/2027 season.

Storch, or Ashley?

GIVEMESPORT asked ChatGPT whether Sheffield Wednesday would be better off if Storch or Ashley bought the club.

Mike Ashley has demonstrated financial capacity and experience running significant corporations such as Sports Direct and formerly owning Newcastle United. This indicates stability and the ability to pay infrastructure or squad renewal.
However, Ashley’s ownership style has traditionally prioritized sustainability and financial profits over bold sporting investment, which has irritated supporters.
David Storch might represent a new strategic orientation, possibly introducing modern governance and new business networks.
The drawback is his minimal experience in English football.
Overall, Ashley provides financial security, whereas Storch offers uncertainty but potential gain based on ambition and long-term vision.