Sheffield Wednesday are looking for a new preferred bidder after James Bord’s proposed acquisition fell through on Wednesday, just days after the South Yorkshire club’s relegation to League One was confirmed.

The Owls have been in administration since October, following Dejphon Chansiri’s departure, and speculation was growing as to when Bord would be confirmed as the new owner of the Championship’s basement side.

However, the consortium lead by the former professional poker player backed out of the transaction and has lost £4 million since December, with a non-refundable payment of £2.5 million only part of the package that they have spent money on in the last two months.

Sheffield Wednesday fans are now demanding answers from the club’s administrators and Bord himself about how they were once again left in limbo, despite the fact that the drama appeared to be coming to an end.

Sheffield Wednesday fans react after James Bord’s takeover proposal fails.

It’s been a challenging year for the Owls, and this new update will elicit a variety of feelings from those in the seats, on the field, and in the dugout at Hillsborough.

Patrick McKenna, Sheffield Wednesday Fan Pundit for Football League World, has spoken out in response to Bord’s consortium’s decision to withdraw from the transaction. He stated, “I believe the predominant emotion from it is rage. I had always been willing to give them the benefit of the doubt. They secured a better status after putting in the money.”I felt it was fair that they had to go through the checks and get patience from the fan base to get it done, and that they should be able to do so without much negativity.”But they’ve truly let us down. There is no way they expect the fan base to accept the idea that the club’s value does not equal what they are willing to pay. It’s complete crap.”

Patrick went on to say, “It’s evident that they’re going to struggle to pass this EFL test, and now they’re creating some stupid reason for why they’re suddenly withdrawing. “They’re trying to put this sincerity into their statements, and it’s amazing now that James Bord has made himself very unpopular with fans of both Sheffield clubs.”I will give him that. It is quite an accomplishment to do so. I know he put in £4 million to cover losses, but it seems unusual to do if you knew your bid was not going to go through. So yeah, I’m delighted they aren’t getting their money back, and good riddance to them.”

Sheffield Wednesday has every reason to be frustrated right now.

Administration has placed Sheffield Wednesday in a perilous position, and there will be a great deal of resentment directed at those involved in the failed takeover, which has brought the club back to square one.

Finally, it is the supporters and personnel who bear the ultimate cost when situations like this occur, and with nothing to play for on the pitch, the situation off it is the focus of all those engaged with S6 right now.

The Owls have already endured a lengthy procedure, and they urgently require a resolution. However, this could be a blessing in disguise for Sheffield Wednesday, since Bord may not have been the best candidate for the post at Hillsborough.