Sheffield Wednesday are still waiting to find out whether James Bord’s purchase of the club will go through.
The Owls have had a dismal season, with two point deductions indicating that relegation to League One is only a matter of time.
The one positive aspect of this campaign was that it marked the end of Dejphon Chansiri’s tenure as manager of the club, as the Owls went into administration in October.
Since then, the focus has been on finding a new buyer, and it was announced in December that James Bord’s consortium was designated preferred bidders.
Wednesday fans have been frustrated with delayed progress over the past few months. Here are five things fans should be aware of while waiting for a decision on the takeover.
5James Bord’s period of exclusivity relies on him to keep funding the club
Bord is reported to have a ‘rolling deal’ for his period of exclusivity, which will remain in place if he continues to pay the club’s losses.
That means Bord is paying two’six-figure’ sums per month, as he has done since he was named preferred bidder. If those payments were not made, the situation would change, but there is no evidence that this will occur.
4Completing necessary checks on consortium delays process
This buyout has taken so long because Bord is part of a consortium, and the EFL’s essential checks naturally take longer than if only one person is involved.
The German industrialist Felix Romer and Alsharif Faisal Bin Jamil, a member of the Jordanian royal family, are the two figures participating alongside Bord, thus it can become a complex procedure for the EFL as they try to see if all three can pass the owners’ and directors’ exam.
3There is no specific timeframe on when it will be completed
Following that, despite the fact that most Wednesday fans believe this has already dragged on, the reality is that no takeover has a set completion date.
As previously stated, this is more involved than a single-person takeover, which explains why it has already taken several months. It has already been stated that a decision might be made by’spring’, so it will most certainly be a few weeks, at most, until Wednesday receives the clarity that they so much need, but we still don’t know when an announcement will be made.
2Plans are in place if the takeover is approved
The obvious issue about this extending on is what it will imply for Wednesday next season. We know that this campaign is basically over, but everyone involved with the club hopes that they can compete in League One.
However, in order to do this, a lot of work must be done, and not just with the playing team. So, the longer this is delayed, the more likely it will interfere with next season’s preparations, although it looks that work is taking place in the background. That comes after the Sheffield Star claimed Bord is lining up persons to lead the football side of things, impressing even the’sceptics’.
1There remains interest from other parties
Finally, if Bord’s proposal to buy Sheffield Wednesday falls through, it is unlikely to be a disaster for the Yorkshire club, as prior interested parties have stated that they are willing to re-enter negotiations.
Mike Ashley and the Storch Family were also mentioned as potential buyers who could return, which gives some hope for Wednesday if Bord’s agreement is not approved.
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