'Astute businessman' - Carlton Palmer backs Mike Ashley to complete Sheffield Wednesday takeover
Mike Ashley is among the leading contenders to complete a takeover at Hillsborough.
Former Sheffield Wednesday midfielder Carlton Palmer is backing Mike Ashley to win the takeover race at Hillsborough, describing him as the “right man to the club forward”.
The former Newcastle United owner is understood to be one of the frontrunners in the race to secure the keys to Hillsborough after a consortium being led by James Bord pulled out of the process last week, exactly nine weeks on from being granted ‘preferred bidder’ status.
Administrators Begbies Traynor want final bids on the table today (Friday) and Ashley is widely expected to submit an offer. It is understood he remained in contact with authorities throughout the period where Bord’s group were being vetted amid the prospect of a breakdown in the process.
Ashley, who was owner of Newcastle between 2007 and 2021, is understood to be one of the leading contenders alongside US businessman David Storch. The latter also held a firm interest in the Owls prior to Bord’s group being granted ‘preferred bidder’ status on Christmas Eve.
With the clock ticking, the prospect of Ashley taking charge at Hillsborough does appeal to several Wednesday supporters, who have suggested his track record as a businessman and experience in football is exactly what the club needs at this particular juncture.
And that is an opinion shared by former Wednesday man Palmer, who, issuing a response to Wednesday fan and former England cricketer Michael Vaughan, who is also in favour of Ashley taking over the reins, believes he is the right man for the job.
Palmer backs Ashley to win takeover race
Posting on X, formerly known as Twitter, Palmer said: “I have said all along [he is the] right man to take the club forward. Not heard a bad word said against him from lots of people I know who work for him.
“Deep pockets, knows football. Astute businessman.”
I have said all along right man to take the club forward .Not heard a bad word said against him from lots of people I know who work for him .Deep pockets knows football .Astute business man .
— Carlton Palmer (@CarltonPalmer) March 6, 2026
With final bids due in today, Wednesdayites, in the coming days, could discover who is the next individual or group to have been granted ‘preferred bidder’ status.
However, as has been well-documented recently, the likelihood is the prospective buyer is not going to honour the English Football League’s 25p rule, leaving Wednesday facing the prospect of a 15-point deduction next season.
The Bord group, as revealed by Begbies Traynor, had submitted an offer worth £47.8million to buy the Owls, but there is an understanding Wednesday could now be secured for somewhere between £10m-£20m.