Following James Bord’s selection as the preferred bidder for Sheffield Wednesday, the EFL has yet to decide whether to approve him.

After the interested parties were trimmed down, former Newcastle United owner Mike Ashley and American billionaire David Storch were thought to be two of the final possibilities in the running to take up the Owls, but a consortium led by Bord was named the preferred bidder on Christmas Eve.

Bord, the founder of sports analytics company Short Circuit Science, currently owns stakes in Scottish club Dunfermline Athletic, Spanish club Córdoba, and Bulgarian outfit Septemvri Sofia, and his group also includes German-born entrepreneur Felix Roemer and Alsharif Faisal Bin Jamil, a member of Jordan’s Royal Family.

The decision to grant Bord’s consortium preferred bidder status was a significant step forward in the acquisition process, but it is far from certain that the EFL will approve the transaction.

James Bord’s consortium breaks silence over Sheffield Wednesday plans.

It is fair to say that Bord’s selection as preferred bidder was not without criticism, especially given his ill-fated spell as a recruiting advisor to Wednesday’s Steel City rivals Sheffield United during their dismal summer transfer period.

The Owls’ administrators were also chastised for failing to share information with supporters regarding the club’s prospective owners, most notably by local MP Clive Betts, but Bord’s consortium broke their silence last week when they revealed their plans for the South Yorkshire club.

In a media release, Bord’s group revealed that they were looking to bring “long-term, responsible investment” to the club, with “an emphasis on stable governance, operational discipline, and data-informed decision-making,” while also stressing that they are committed to “preserving and enhancing its legacy” and helping Wednesday “restore its position at the pinnacle of the game.”

Kris Wigfield, the Owls’ joint-administrator, also spoke out last week, insisting that “extensive due diligence” was done on Bord’s consortium before selecting them as the preferred bidder, and that he did not want to “jeopardise” the takeover process by “disclosing details prematurely before regulatory approval has been completed.”

EFL permission timeline revealed as James Bord’s Sheffield Wednesday delay continues.

Journalist Alan Nixon disclosed earlier this month that it could take several weeks for the EFL to perform the necessary checks on Bord’s consortium as their finances are extensively reviewed.

In response to Wigfield’s update, the EFL issued their own statement on Friday night, stating that they “only received formal written notification of the preferred bidder earlier this week” and that with due diligence now underway, they will need to seek additional information from Wednesday’s administrators and Bord’s group.

While the EFL declared that there is “no set timescale for this to be concluded,” they also stated that this is “only the beginning of the process,” implying that a lengthy wait may be ahead before it is known whether Bord’s consortium will be granted permission to take over the Owls.

Wednesday’s administrators have made it plain throughout the takeover process that finding a new owner who will pass the EFL’s requirements is one of their top goals, but there appear to be a few unanswered questions surrounding Bord’s company.

Sheffield Wednesday’s transfer plans could be impacted by takeover uncertainty, as the James Bord meeting is scheduled.

Wednesday’s ability to do business in the transfer market is severely limited while the club is still in administration, but they will be allowed to make a few loan signings in January to bolster their threadbare squad, and as FLW exclusively revealed on Tuesday, they are close to a deal for Manchester City midfielder Jaden Heskey.

However, with new ownership not yet in place, the Owls are in need of finances to get them through till the end of the season, which means they may have to sell some of its key players this month.

A number of Wednesday players are presently drawing interest from other clubs, with French side Strasbourg bidding for goalkeeper Pierce Charles, and Hibernian having an offer rejected for striker Bailey Cadamarteri, who is also on the radar of Blackburn Rovers.

With some major transfer decisions to make, Bord’s consortium is expected to meet with the club’s administrators this week to discuss potential incomings and outgoings, as well as the overall takeover situation, so while they are not yet officially the club’s owners, it appears they may have a role in shaping the January strategy.