Sheffield Wednesday appear to have taken a major step forward in their prolonged takeover saga, with reports suggesting that the club has now identified a preferred bidder and is moving into the next stage of the process.
In a statement released ahead of the festive period, the club confirmed that administrators Begbies Traynor intend to award preferred bidder status to a consortium following the completion of the initial round of bids
The administrators acknowledged that the prospect of a change in ownership can be unsettling for supporters, particularly given the club’s recent history, and stressed that questions from fans are entirely understandable.
The statement also confirmed that the English Football League has advised that its review of any proposed takeover will be comprehensive and will not operate to a fixed timeline. Administrators made it clear that this level of scrutiny is both expected and necessary, and that they fully support the process as it continues.
After a long period of uncertainty at Hillsborough, the development has been viewed as a potential turning point, with supporters hopeful that the club may finally be edging towards a new era. One of the biggest questions surrounding the announcement has been the identity of the preferred bidder, particularly amid reports that the club’s asking price had recently been reduced to encourage interest.
According to BBC Sport reporter Rob Staton, the leading bid is being fronted by a consortium led by James Bord. Bord is a British entrepreneur who is already involved in football as a co-owner of Scottish club Dunfermline Athletic. He made his fortune through the artificial intelligence company Short Circuit Science and is also known for having earned significant winnings as a professional poker player.
Administrators outlined that the decision to move forward with a preferred bidder followed extensive financial, legal and forensic due diligence, supported by specialist advisors. This work has been ongoing for some time and has included detailed examinations of funding sources, ownership structure and governance arrangements.
However, they were also keen to stress that granting preferred bidder status does not mean the takeover has been completed. Any proposed sale remains subject to final legal agreements and full approval from the EFL, including passing the owners’ and directors’ test. Administrators have stated that a deal will not be finalised unless all regulatory requirements are met.
Given the difficulties experienced under previous ownership, supporters are aware that these checks are essential to ensure long-term stability. From a financial standpoint, administrators have indicated that the preferred bidder’s offer provides a level of certainty for the club, but the process remains ongoing as Sheffield Wednesday move cautiously towards potential new ownership.
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