James Bord still needs to clear financial hurdles before completing his Sheffield Wednesday ownership ahead of next season.

The Owls’ probable relegation to the League One was eventually confirmed on Sunday, when they were defeated 2-1 by Sheffield United in the Steel City Derby at Bramall Lane.

Henrik Pedersen’s side hasn’t won a game since their Championship victory over Portsmouth in September, and they are currently on -7 points after deductions.

The Hillsborough team will look to reclaim some pride when they travel to Norwich City on Wednesday.

James Bord still owes £15 million to Dejphon Chansiri as he readies Sheffield Wednesday acquisition.

Former Wednesday owner Dejphon Chansiri is to blame for the Steel City club’s current state of administration, as he repeatedly failed to pay player and staff wages on time prior to his departure.

The Thai businessman’s financial mismanagement at Hillsborough resulted in the exodus of several notable players last summer, as well as ex-manager Danny Rohl.

Meanwhile, Bord’s company, Short Circuit Science, remains the Owls’ favorite bidder as administrators Begbies Traynor seek to sell the South Yorkshire outfit.

On Tuesday, Sky Sports’ Rob Dorsett told X that Bord’s takeover plan is untouched by Wednesday’s relegation to League One. According to Dorsett’s piece, £5 million is still owed to HMRC and other clubs for outstanding transfer payments, with another £15 million owed to Chansiri.Swfc takeover update: Bord deal remains unchanged by relegation. HMRC and other teams are still owed £5 million in outstanding transfer fees, plus £15 million to Chansiri. However, all monies have been agreed upon with James Bord and are now in the hands of EFL and the regulator, who will conduct a complete Owners and Directors examination.

According to the report, all finances have been agreed upon with Bord, and it is now up to the EFL and Independent Football Regulator to finalize the sale through the Owners’ and Directors’ Test.

The Independent Football Regulator will not be able to examine new owners until May, thus the EFL will remain in charge until then.

James Bord may have hurdles to the Sheffield Wednesday transaction.

The fact that relegation has had no effect on Bord’s takeover is unsurprising, given that Wednesday had no realistic prospect of surviving in the Championship this season.

Despite the fact that the financing have been agreed upon, there are other potential barriers to the American takeover.

Bord, for example, is being sued by his former business partner, Jonathan Cohen, for his investment in Cordoba, a Spanish second-tier team.

According to The Times, Cohen claims that Wednesday’s prospective owner misled him into believing that Cordoba was debt-free, while in fact they owed roughly £16.9 million.

The case’s repercussions may prolong Bord’s Owls takeover.

Meanwhile, according to The Guardian, the EFL is investigating if the American’s Wednesday acquisition would be primarily funded by gambling and crypto-gaming earnings, as they determine whether Bord meets the criteria of their Owners’ and Directors’ Test.

The Owls have had one of their most difficult seasons in history, and fans will be hoping that the club is sold sooner rather than later so that preparing for the upcoming season can begin on schedule.

Wednesday’s buyout might be finalized in six weeks, implying that the deal will be approved by the EFL rather than the Independent Football Regulator.

If the administrators and any other checks and balances adhere to that timeline, Bord will soon be able to make critical choices, such as whether Pedersen will remain in the dugout.