The proposal to buy Sheffield Wednesday from a consortium managed by James Bord could take at least another month to complete as the EFL conducts due diligence on those involved.
It has been a tumultuous period for the Owls, with fans pleading for former owner Dejphon Chansiri to leave the club.
While they obtained their wish, Wednesday received two point deductions, implying relegation, and they are still waiting for Chansiri’s successor to be confirmed.
James Bord’s proposed acquisition of Sheffield Wednesday remains continuing.
After entering administration, there was a lot of interest in Wednesday, and it was reported in December that Bord’s group was the favored bidder.
That meant Bord and his group had to go through the appropriate EFL inspections, which included passing the owners’ and directors’ tests and providing proof of cash.
Much to the dismay of Wednesday fans, there have been no significant changes on that front in the last six weeks, with the Yorkshire club currently in limbo as the takeover is concluded.
However, the Times has uncovered why this is taking longer than Wednesday would have expected. They say that having German entrepreneur Felix Romer and Alsharif Faisal Bin Jamil, a member of the Jordanian royal family, engaged, as well as Bord, takes longer to complete these checks on three people than if there were only one buyer.
Furthermore, they note that because all three people involved live abroad, this will take longer than usual, with a decision not expected until’spring’.
Sheffield Wednesday will be keen for the new era to begin.
This has been a difficult few years for everyone involved with Sheffield Wednesday, so it’s reasonable that fans are hoping for some good news about the takeover.
However, the EFL must do these checks, and some may argue that they should have been more stringent about who they allowed to buy clubs in the past.
So it would be incorrect to criticize them for the length of time this is taking, because it is ultimately about ensuring that the Bord consortium is the best fit to take Sheffield Wednesday forward as a club.
This latest development suggests that a decision is not forthcoming, which is far from ideal given the scope of the rebuild that will begin in the summer.
We know the Owls will be in League One, but a lot of work will be necessary to ensure the club’s competitiveness at that level, and a number of players will be out of contract in the coming summer.
As a result, a swift conclusion would be ideal; nevertheless, as previously stated, it’s clear to see why this process is taking so long, and it will be interesting to observe when a formal announcement is made.
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