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Why Mike Ashley Was Said to Have an ‘Advantage’ in the Sheffield Wednesday Takeover Race

Mike Ashley was one of Sheffield Wednesday’s bidders, but the club’s sale concluded with Arise Capital Partners in May 2026. Here’s what the timeline confirms about the so-called advantage.
From TheFinanceBase Team3 min to read
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Mike Ashley was reported as one of the bidders for Sheffield Wednesday in late 2025, but the available reporting does not establish the specific reason he was described as having an “advantage.” He was not named as the preferred bidder in the December report, and he did not ultimately buy the club: after two other bids fell away or changed, Arise Capital Partners LLC completed the acquisition in May 2026.

What “advantage” meant—and what is confirmed

The word “advantage” comes from the original headline, not a confirmed finding that Ashley had the strongest offer or was most likely to win. BBC Sport reported on 24 December 2025 that James Bord’s consortium had been selected as preferred bidder and named Ashley as another bidder. The report does not establish the precise basis for describing Ashley as advantaged. (BBC Sport, 24 December 2025)

That distinction matters: being a bidder is not the same as being the preferred bidder, passing all regulatory requirements, or completing a purchase. The documented outcome was a sale to a different consortium.

How the takeover process unfolded

Date What happened
24 October 2025 The EFL said Sheffield Wednesday had entered administration and would receive a 12-point deduction under league regulations. (EFL announcement)
24 December 2025 BBC Sport reported that James Bord’s consortium had been selected as preferred bidder; Ashley was among the other bidders named. (BBC Sport report)
25 February 2026 BBC Sport reported that Bord’s consortium had withdrawn and that a consortium led by David Storch remained interested. (BBC Sport report)
15 April 2026 BBC Sport reported that the EFL had told the preferred bidder the club could face a 15-point penalty the following season, in connection with proposed repayment for unsecured creditors. This was a prospective penalty, not the eventual outcome. (BBC Sport report)
2 May 2026 The EFL said the administrators had agreed to transfer the club’s assets to Arise Capital Partners LLC. It said the club had met league requirements, exited administration and would not receive the discussed 15-point deduction. (EFL announcement)
5 May 2026 BTG, the joint administrators, confirmed completion of the sale to Arise Capital Partners LLC. (BTG statement)

Who ultimately bought Sheffield Wednesday?

Arise Capital Partners LLC, led by David Storch alongside Michael Storch and Tom Costin, acquired the club in May 2026. The EFL announced the agreement on 2 May, and BTG confirmed completion on 5 May. The sale followed Bord’s consortium withdrawing; the sources cited here do not establish that Ashley’s bid advanced to preferred-bidder status or completion.

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Why a bidder’s position can change during administration

A reported bidder still has to navigate a process that involves financial and regulatory checks. The EFL says a proposed acquisition of control is subject to requirements involving both the EFL and the Independent Football Regulator, and that clubs proposing a change of control must submit current financial information. (EFL: Owners and Directors)

A Sheffield Wednesday Supporters’ Trust summary of an October 2025 EFL meeting describes the administrators’ role in identifying a preferred bidder and notifying the EFL, alongside owner checks, funding evidence and creditor repayment considerations. That is a summary of a meeting, rather than a substitute for formal current rules. (Sheffield Wednesday Supporters’ Trust) A preferred-bidder designation therefore marked a stage in the process, not a completed takeover—as the subsequent withdrawal and eventual sale to Arise demonstrate.

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What the points deductions did—and did not—mean

The 12-point deduction announced when Sheffield Wednesday entered administration in October 2025 was an EFL-reported consequence under league regulations. It is separate from the possible 15-point penalty reported in April 2026 in relation to creditor repayment. The EFL later said the club exited administration without that discussed 15-point deduction. These figures describe different events at different stages; the prospective 15-point penalty should not be described as imposed.

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