MIKE ASHLEY and David Storch are front-runners to bid for Sheffield Wednesday this week.
The billionaire businessmen are expected to make offers to the club’s administrators by Friday.
Frasers Group are understood to be handling a bid by 61-year-old former Newcastle owner Ashley.
American Storch, who has worked in the aviation industry, is founder and managing partner of investment firm Arise Capital Partners.
The Storch group were previously linked with a takeover at Cardiff City.
The Owls have already been relegated from the Championship having been deducted 18 points overall this season.
And administrators are looking for new buyers after the withdrawal last week of a consortium featuring ex-professional poker player James Bord.
They had been the preferred bidder – offering £47.8million for the club.
But they pulled out because the scale of their original bid was no longer justifiable and could not be renegotiated.
A spokesperson for the consortium said: “Unfortunately, we have regretfully decided that we must withdraw from the process.
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“Our initial bid had constraints applied on our ability to renegotiate – which is crucial as the figure we offered is significantly higher than that justified by the findings of a lengthy due diligence process.
“Our Consortium has a strong track record of restoring football clubs through financial stability, disciplined management and robust governance.
“We genuinely believed we could play a positive long-term role as custodians of one of the greatest clubs in English football and wanted to help guide Sheffield Wednesday towards a brighter future.
At the time, Storch reiterated interest, saying: “We remain incredibly passionate about the opportunity at Sheffield Wednesday and seeing the club return to its former glory.
“We wish the preferred bidder well through the process but are ready to step in should the opportunity present itself again.
“We know all are disappointed by relegation yet wish the team well as they finish the current season.”
Joint administrators Kris Wigfield, Paul Stanley, and Julian Pitts added: “The club has the necessary funding in place to trade through to the end of the current season.
“The withdrawal of this bidder does not mean we are returning to the beginning of the process.”
Bin Jamil explained: “The value is significantly less than we have bid.
“We have bid at a significantly higher value than has been reported.
“We have tried to look at in different ways but unfortunately it’s unjustifiable. We are very sad about it.
“We have pumped significant money into the club, besides the deposit, and paid for numerous advisors, so there are a lot of sunk costs.
“But unfortunately we have to pull out. We are incredibly sad, as we believe this club is football royalty.
“There is no way to continue the process and get the valuation to a place where there is a fair price.”
He continued: “We bid a lot higher than £30million. That figure is not in the same ball park as our bid.
“But just because we can’t wrestle with the valuation, it doesn’t discount that somebody else can bid at £30m and I have already wished the administrators luck in finding someone who will.
“Time will tell but I wouldn’t be so hasty to say that somebody can’t hit that number, because avoiding a 15-point deduction is so important for the club and the fans.”
SHEFF WED’S TRAGIC LOSING RUN
SHEFFIELD WEDNESDAY were relegated after an 11th loss in a row in all competitions against bitter rivals Sheffield United but their shocking streak continus…
Here is their full run of defeats in 2026…
Preston 3-0 Sheffield Wednesday (January 1)
QPR 3-0 Sheffield Wednesday (January 4)
Sheffield Wednesday 0-2 Brentford (January 10)*
Sheffield Wednesday 0-1 Portsmouth (January 17)
Sheffield Wednesday 0-2 Birmingham (January 20
Bristol City 2-0 Sheffield Wednesday (January 24)
Sheffield Wednesday 0-1 Wrexham (January 31)
Blackburn 1-0 Sheffield Wednesday (February 3)
Swansea 4-0 Sheffield Wednesday (February 8)
Sheffield Wednesday 1-2 Millwall (February 14)
Sheffield United 2-1 Sheffield Wednesday (February 22)
Norwich 2-0 Sheffield Wednesday (February 25)
Southampton 1-3 Sheffield Wednesday (February 28)
*FA Cup, all others are Championship matches
