The English Football League continues to supervise the process that could see Sheffield Wednesday F.C. move into new ownership, though a resolution does not appear imminent.
Joint administrator Kris Wigfield has indicated it is “unlikely” the takeover will be completed before the end of February, while maintaining that proceedings remain on course.
Begbies Traynor awarded preferred bidder status on Christmas Eve to a consortium reportedly led by London-born, Las Vegas-based businessman James Bord. The group is currently undergoing the EFL’s Owners’ and Directors’ Test following Wednesday’s entry into administration in October.
Although some supporters are growing frustrated at the perceived delay, Wigfield stressed that the timeline is typical for administration cases, particularly given that funding sources are believed to originate overseas, requiring more detailed regulatory checks.
Speaking on BBC Radio Sheffield’s Football Heaven programme, Wigfield explained that the review process involves extensive documentation and verification.
He noted that both the Independent Football Regulator (IFR) and the EFL have submitted detailed questions to the preferred bidder. While responses are being provided, many answers require confirmation from third parties such as banks, auditors, lawyers and co-investors, which inevitably slows progress.
Wigfield admitted he could not provide a definitive completion date and suggested a February conclusion is unlikely. Whether a decision arrives in March remains uncertain.
Preferred bidder status extended
The consortium initially paid a substantial seven-figure sum on Christmas Eve to secure exclusivity until January 31. That status can be extended on a rolling fortnightly basis by covering the club’s projected cash-flow losses.
The group exercised that option at the end of January, extending exclusivity until February 14, and has since made a further payment to retain preferred bidder status through the end of February.
Complicating matters is the introduction of the Independent Football Regulator in May. Any takeover not finalised before then would fall under the new regulatory framework, potentially adding further scrutiny and delay.
No major concerns raised
Wigfield dismissed online speculation suggesting the deal had encountered significant problems. He confirmed communication with the preferred bidder’s representatives and stated that, to his knowledge, there are no substantive issues.
He also revealed that the EFL had corresponded with administrators and raised no major concerns. However, because submissions to regulators are confidential, administrators have not seen the full responses provided by the bidder.
In summary, while patience is being tested among supporters, administrators insist the process is progressing as expected — albeit without a firm end date in sight.
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