"Given the stature of the Championship's crisis club, it wasn't the greatest of surprises to see several high-profile names linked with a takeover in S6, although it appeared as though Bord would be the man who would go on to become Wednesday's latest custodian after he was granted preferred bidder status on Christmas Eve."
"However, weeks after it emerged that the English Football League had developed initial concerns over the sourcing of his funds that would be plugged into the Owls' coffers - due to Bord's links in the gambling and crypto-gambling sectors - it was confirmed that his consortium and the joint-administrators had hit a major impasse which saw their £47.8m takeover bid put off the table."
"In a subsequent statement outlining developments, Begbies Traynor confirmed that this wouldn't mean the takeover process would go entirely back to square one, and that has seen the likes of the Storch family, ex-Newcastle United chairman Mike Ashley and local businessman, Ryan Howsam, continue to be linked with a takeover respectively."
Sheffield Wednesday has been in administration since October following Dejphon Chansiri's departure after a chaotic 10-year tenure. Joint-administrators Begbies Traynor granted James Bord preferred bidder status on Christmas Eve with a £47.8m takeover proposal. However, the English Football League raised concerns about the sourcing of Bord's funds due to his connections to gambling and crypto-gambling sectors. This impasse led to the consortium withdrawing from the takeover process. The administrators confirmed the process would not restart from the beginning, with multiple parties including the Storch family, Mike Ashley, Ryan Howsam, and Charlie Methven continuing to be linked with potential bids.
#sheffield-wednesday-takeover #football-administration #efl-regulations #preferred-bidder-process #cryptocurrency-concerns
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