Sheffield Wednesday supporters may face an extended period of uncertainty over the club’s proposed takeover, with fresh doubts emerging around the EFL’s approval process for preferred bidder James Bord.
The Owls finally appeared to be moving on from the Dejphon Chansiri era at the end of 2025 after years of decline that ultimately led to administration. Points deductions have since left Henrik Pedersen’s side staring at a drop into League One, but off-field stability remains the overriding concern as administrators work to secure new ownership.
On Christmas Eve, Bord’s consortium was named as the preferred bidder, raising hopes that a new chapter was close. However, attention has now turned to the EFL’s Owners’ and Directors’ Test, which is reportedly taking longer than expected due to scrutiny of the consortium’s financial background.
A report from The Guardian claims the league is carefully assessing Bord’s links to gambling and crypto-gambling ventures, as well as the involvement of investor Felix Roemer, who is said to be helping fund the bid. While the group has paid a deposit for exclusivity and provided administrators Begbies Traynor with proof of funds for a deal believed to be worth around £30 million, regulators are examining the sources of that wealth in detail.
Bord and Roemer reportedly insist their investment is privately financed, with wealth generated through technology and analytics ventures. Nevertheless, football authorities are understood to be proceeding cautiously, particularly given longstanding rules around betting in football.
There is precedent within English football for owners with gambling analytics backgrounds. Brighton’s Tony Bloom and Brentford’s Matthew Benham both operate betting-related consultancies, but allow their businesses to be independently audited to ensure compliance with FA regulations. Bord and Roemer may need to follow a similar path, though it remains unclear whether that would guarantee approval. The FA and EFL are said to be working in tandem on the checks.
For Wednesday fans, the timing adds to an already difficult period. Long-serving captain Barry Bannan is departing, and the club’s on-field struggles have compounded a turbulent year off it. The takeover had offered a glimmer of optimism heading into 2026, but renewed uncertainty over regulatory clearance has put that hope on hold.
While examples elsewhere in the pyramid suggest such hurdles can be overcome, the drawn-out process is likely to test the patience — and nerves — of the Hillsborough faithful.
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