Mike Ashley and David Storch are both interested in completing a buyout of Sheffield Wednesday after James Bord’s deal failed, but the Hillsborough administrators have identified the latter as the preferred bidder.

The Irish Times recently claimed that further bids for the Owls were due by Friday, March 6th, with David Storch and Mike Ashley being the frontrunners for a takeover of Wednesday in the next weeks and months.

Ashley’s links to Sheffield Wednesday originally surfaced in October 2025, but other bidders were preferred, and Bord jumped ahead of the competition. However, with reports this month saying Ashley was interested in a transaction in case Bord’s takeover failed, speculation has increased once more.

With relegation confirmed in recent weeks, Sheffield Wednesday supporters are eager for optimism and hope. It looks that some has surfaced, with Storch outbidding Ashley for the prestigious and historic South Yorkshire firm.

Alan Biggs admits that David Storch outbid Mike Ashley for Sheffield Wednesday.

Alex Crook recently stated that Ashley was ‘waiting in the wings’ for a Wednesday deal. Just days later, it was reported that three buyers, including Ashley, were looking at Wednesday again.

Following the Bord consortium’s failure, it was revealed that Ashley and Storch were seeking to become the Owls’ next preferred bidder, with former Sunderland co-owner Charlie Methven also involved in the Wednesday purchase.

Alan Nixon claimed that Begbies Traynor had received offers following Friday’s deadline. Not only that, but it is thought that the Storch family has made a substantially higher bid than Ashley at this point.

In fact, BBC writer Andy Giddings stated that Ashley’s proposal is far cheaper than the Storch’s offer, though it was unclear whether it was enough to secure preferred bidder status.

However, it now has, as Alan Biggs of talkSPORT and the Sheffield Star has disclosed the most recent details of Storch’s proposal. On X (previously Twitter), he stated that the Storch-Costin bid is estimated to be around £18 million, nearly double Ashley’s offer.There have been other bidders around that figure, but the Storch group is well ahead on EFL inspections, which are thought to be practically complete. I feel he is also well-regarded by his admirers.I’m pleased to see this given the official go-ahead and off everyone’s back! In a very different league from the Bord method. I appreciate acceptance of a long-term, long-haul mission. That’s reasonable for beginners.”

According to Biggs, the offer is worth somewhat more than £10 million, which is far less than the initial asking price on Wednesday, which was closer to £30 million.

The major factors in David Storch buying Sheffield Wednesday ahead of Mike Ashley

Carlton Palmer wanted Ashley to buy Wednesday, but one of the concerns was that if Ashley closed the deal, Wednesday would start with a points deduction. This is a significant setback to their promotion ambitions in League. One before the ball is even kicked.

However, according to an update from Alan Nixon, the Storch group is also willing to accept the 15-point deduction in order to purchase the club. It implies that it will all depend on Storch’s ability to reach an agreement with the EFL, according to the club’s administrator statement. “The offer from Arise Capital Partners is the strongest proposal received following the resumed bidding process that began last week. The offer is less than the amount required to pay creditors 25p in the £; while the offer does not provide the same level of creditor return as the previous proposed transaction, it does represent the best available outcome currently achievable and provides a clear path toward securing the Club’s long-term future.”

However, there are further stumbling blocks to surmount once the lengthy process with Bord ultimately failed. According to The Athletic, the Storch proposal to acquire Sheffield Wednesday will have to face questions over a $55 million (£41 million) payment.

It is a settlement that his firm, AAR Corp, paid in 2024. This could be the main sticking block in getting the Wednesday takeover approved as soon as possible in the coming weeks, but one obstacle has already been cleared.