Sheffield Wednesday could face more uncomfortable waiting time over their takeover, with the EFL taking their time assessing James Bord’s suitability due to his links to gaming and crypto-gambling enterprises.

Sheffield Wednesday eventually began to let go of Dejphon Chansiri at the end of 2025, following years of decline under the man who once dreamed of returning the Owls to the Premier League.

That process culminated in Wednesday’s administration, with back-to-back points reductions relegating Henrik Pedersen’s club to League One in 2026.

Off-field concerns remained the priority, with Wednesday’s administrators searching for a new owner – a process that, at times, appeared like it was going at a snail’s pace as they sought to find the ideal party to succeed Chansiri.

It was revealed on Christmas Eve that Bord’s group would be the favored bidders, with Wednesday fans eagerly anticipating further developments at the start of 2026.

EFL inspections, as well as the Owners’ and Directors’ Test, are critical components of the process. That approach has now prompted doubts about Bord and crypto-gambling casino owner Felix Roemer, who is a consortium funder.

Sheffield Wednesday’s takeover twist

A recent Guardian investigation appears to cast further doubt on Sheffield Wednesday’s takeover, suggesting that there are concerns over the Owners’ and Directors’ Test criteria due to Bord and Roemer’s links to gaming and crypto-gambling.

The Owners’ and Directors’ Test is currently underway, with the EFL investigating the sources of the funds behind the takeover, despite the fact that the pair paid a deposit to gain exclusivity over the takeover and provided evidence to Begbies Traynor – the administrators – regarding the fundings for a £30 million deal.

According to the Guardian’s story, Bord and Roemer promise that the bid for the Owls is privately funded and that they have gained money through investments in technology and analytics.

However, the EFL is thought to be taking its time with these crucial inspections, given that the Football Association banned football betting for all participants 12 years ago.

Other owners in the English football pyramid with similar origins, such as Tony Bloom of Brighton and Matthew Benham of Brentford, are exceptions to this rule. According to the Guardian, the duo “allow the accounts of their betting consultancies to be independently audited on behalf of the FA to ensure they are not betting on football”.

Bord and Roemer would need to go through a similar process, but it’s unclear whether they’ll be given the same pass. The FA and the EFL are thought to be working together.

More fear for Sheffield Wednesday fans now.

It’s been a difficult week for those at Wednesday, who have had to say goodbye to Barry Bannan, their decade-long serving captain, who is leaving for Millwall and a chance to compete for promotion to the Premier League, as his side slips into League One.

The last 12 months have been difficult off the field, but Bord’s takeover finished 2025 on a bright note, with the optimism that 2026 would be a much better year, despite relegation to League One.

However, learning that the takeover is unlikely to pass the Owners’ and Directors’ Test is cause for concern. It’s been a source of concern for a few weeks, but this news brings it back into focus.

Given the ownership circumstances at Brighton and Brentford, Wednesday fans should have plenty of hope, but when it feels like the world is against you, it’s difficult to maintain that enthusiasm, and there’s little question that this update will not be warmly greeted by the Hillsborough faithful.