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No. Mike Ashley was one of Sheffield Wednesday’s late-stage bidders in December 2025, but administrators did not select his bid. After the preferred bidder at that time withdrew, Arise Capital Partners became the replacement preferred bidder and completed the takeover on 2 May 2026.
Where Mike Ashley stood in the takeover process
BBC Sport reported on 19 December 2025 that Ashley and a joint American bid involving John McEvoy and members of the Storch family were the two bidders close to buying Sheffield Wednesday. That made Ashley a serious late-stage contender, not the confirmed buyer.
On 24 December, the administrators selected a consortium led by James Bord as preferred bidder. Ashley was another bidder, but he was not chosen at that stage. The term “preferred bidder” described a step in the sale process, not a completed purchase.
Why the preferred bidder changed
Bord consortium withdrew
The Bord group later withdrew from its proposed takeover. BBC Sport reported that it understood the group’s bid was significantly higher than those of other interested parties and that no other bid met the 25p-per-pound creditor threshold then in view. That was the BBC’s account of the bidding, not a published administrator ranking of every offer.
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Arise Capital Partners was selected
On 10 March 2026, Sheffield Wednesday announced Arise Capital Partners LLC as the replacement preferred bidder. The club named David Storch, Michael Storch and Tom Costin, and said the consortium had supplied a substantial deposit and evidence of funds. Under an exclusivity agreement, it also had to fund trading losses after eight weeks if the sale had not completed. Sheffield Wednesday’s announcement called Arise’s offer “the strongest proposal received” following the renewed bidding process.
Who owns Sheffield Wednesday now?
The sale is no longer awaiting a buyer. On 2 May 2026, the EFL confirmed that the administrators had concluded an agreement with Arise Capital Partners LLC to transfer the club’s assets and put Sheffield Wednesday under new ownership. BBC Sport also reported that the Storch-led consortium completed the takeover. Ashley was not the successful buyer.
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The club had entered administration on 24 October 2025. The EFL said administration triggered an automatic 12-point deduction under its regulations. The EFL’s statement described administration as an opportunity to move towards a sale. Its 2 May 2026 new-ownership announcement marked the completion of the transfer.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What is known about Ashley’s offer?
The reporting establishes that Ashley was a bidder and among the late-stage contenders, but it does not disclose his exact offer, its terms, or the administrators’ full comparative reasoning for selecting another party. There is therefore no reliable basis here to state a value for his bid or to claim a specific reason it was not chosen. The later selection of Arise followed the withdrawal of the Bord consortium; it does not by itself establish what happened to Ashley’s individual proposal.
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Key dates in the sale
| Date | What happened |
|---|---|
| 24 October 2025 | Sheffield Wednesday entered administration; the EFL said this triggered an automatic 12-point deduction. |
| 19 December 2025 | BBC Sport reported Ashley and a joint American bid were the two bidders close to a purchase. |
| 24 December 2025 | Administrators selected James Bord’s consortium as preferred bidder; Ashley was not selected. |
| February 2026 | The Bord consortium withdrew, according to BBC Sport. |
| 10 March 2026 | Sheffield Wednesday named Arise Capital Partners LLC as replacement preferred bidder. |
| 2 May 2026 | The EFL confirmed the Arise-led takeover had completed. |
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