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The Bord group takeover of Sheffield Wednesday has taken a step forward with a tranche of new documents now provided to the Independent Football Regulator.
Last week, Daily Mail Sport revealed how the new watchdog has asked for ‘further clarity’ from the group that has been named as preferred bidder for the beleaguered Championship side.
It can now be disclosed that a dossier of information was handed over on Wednesday night and that the fresh detail relates to the financial accounting involved from those within the group whose businesses are based overseas.
When it comes to UK businesses, accounts are submitted to Companies House and are readily available. However, that is not the case in many countries abroad. As such the IFR, which from May will have the ability to reject potential buyers of clubs, had sought further information.
The group, which bid around £32.5million for the club, consists of London-born Las Vegas-based James Bord, who co-owns Dunfermline Athletic and who won £3.2m on the professional poker circuit, German crypto casino owner Felix Romer and Alsharif Faisal Bin Jamil, a member of the Jordanian royal family and sports investor.
They have already submitted a now non-refundable deposit of £2.5m and have provided funding to keep Wednesday, who will be relegated to League One this season, running. Essentially, it would appear that the key issue revolves around assurances over where the money is coming from.
Former professional poker player James Bord fronts the group chosen as the preferred bidder to take over Sheffield Wednesday
Wednesday boss Henrik Pedersen will see his side relegated from the Championship this weekend if they lose to Steel City rivals Sheffield United
The Owls have been deducted 18 points in total this season – and are currently rooted to the foot of the table on -7 points
The group gained exclusivity on Christmas Eve and it had initially been hoped that a deal could have been ratified by now, allowing them to begin their overhaul of the South Yorkshire giants, who went into administration after previous owner Dejphon Chanisiri called time on his disastrous regime in October.
However, the saga continues to drag on. Indeed, rumours have been circulating around the city that the deal is on the verge of collapse, paving the way for other interested parties – which include the former Newcastle United owner Mike Ashley – to step in. While those involved declined to comment publicly, those rumours have been dismissed in private and the Bord deal continues to progress.
Should the takeover be completed by May, the EFL will be the ones to give the green light via their Owners’ and Directors’ Test. After May the IFR, which can only currently deal with incumbent owners, will see its remit expanded.
As such, the IFR has been heavily involved in the process. With funding in place for the rest of the season, the club’s immediate future is relatively secure. And, should the Bord bid not come to fruition, there is a belief that others are waiting in the wings.
Wednesday take on Sheffield United this Sunday facing the harrowing possibility that their fierce rivals could seal their relegation at Bramall Lane. With a squad decimated by departures they are currently bottom of the Championship and 41 points from safety, on minus seven points following a combined 18-point deduction.
