After James Bord’s consortium withdrew its proposed takeover on 25 February 2026, three other groups contacted Sheffield Wednesday’s administrators to reiterate interest, Sky Sports reported. The report named representatives of Mike Ashley as being in contact, but did not identify all three groups. On 10 March, the club named Arise Capital Partners LLC as its replacement preferred bidder—a later stage in the process, not one of the three contacts identified in February.
What happened after James Bord’s consortium withdrew?
On 25 February 2026, James Bord’s consortium pulled out of its proposed takeover of Sheffield Wednesday. Sky Sports reported that the offer was worth £47.8 million, citing a statement from the administrator. The consortium said its offer had proved too high after due diligence. A spokesperson said: “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.” Sky Sports reported the withdrawal and the administrator’s statement.
Sky also reported that three other groups contacted the administrator that day to reiterate their interest. Its report named Mike Ashley’s representatives as being in contact but did not name all three groups. It said the three remaining interested businesses had demonstrated funds of at least £50 million; that figure is Sky’s reporting, not a threshold confirmed in the club announcement cited below.
Who became the preferred bidder?
On 10 March 2026, Sheffield Wednesday announced Arise Capital Partners LLC as its new preferred bidder. The club said the group comprised David Storch, Michael Storch and Tom Costin, had provided a substantial deposit and evidence of funds, and had entered an exclusivity agreement. These were the terms and status announced by the club on that date—not confirmation that the transaction had legally completed. Sheffield Wednesday’s 10 March announcement.
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The club said the EFL stood ready to work with Arise through the league’s regulatory requirements. On 11 March, the BBC described the proposed takeover as subject to EFL scrutiny. David Storch told BBC Radio Sheffield: “I am very sincere when I say the fans will own the club, we will be the custodians.” That was Storch’s stated intention; it did not establish a formal fan-ownership arrangement. BBC’s report on the proposed takeover.
How did the reported sale process develop?
| Date | Party or development | What was reported |
|---|---|---|
| 25 February 2026 | James Bord’s consortium | Withdrew its proposed takeover. Sky Sports reported an offer value of £47.8 million, citing the administrator, and quoted a consortium spokesperson saying due diligence showed the offer was too high. |
| 25 February 2026 | Three other groups | Sky Sports reported renewed contact with the administrator. It identified Mike Ashley’s representatives among those in contact, but did not name all three groups. |
| 10 March 2026 | Arise Capital Partners LLC | The club named Arise as preferred bidder, identified its three members, and said it had received a substantial deposit and evidence of funds and entered exclusivity. |
| 11 March 2026 | Arise proposal | The BBC reported the proposed takeover was subject to EFL scrutiny. |
A report published by an independent fan news site on 25 September 2026 said the Arise-led deal had been completed earlier in the year. The Star’s September report is secondary reporting; the material available here does not include a primary club, administrator or league announcement establishing the legal completion date or transaction terms. The February contacts should therefore be read as a snapshot from that day, not as evidence that those groups remain active candidates.
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What were supporters being asked?
BBC asked supporters whether they were pleased or disappointed that the Bord consortium had pulled out, and posed the question: “Which direction would you like the club ownership to take?” These are questions put to fans, not survey results or evidence of a settled supporter preference. The BBC coverage includes the supporter questions.
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