Prospective Sheffield Wednesday owner facing legal battle with former business partner | OneFootball

Prospective Sheffield Wednesday owner James Bord has become the subject of a major legal battle in the United States, according to The Times.

The English businessman and former professional poker player led the group that won the race to take over Wednesday after the club’s administrators announced an agreement.

Bord is being sued by his former business partner, Jonathan Cohen, over his investment in Spanish second division club Cordoba, where he is a part-owner and a director.

According to court papers filed in Nevada, Bord allegedly misled Cohen during an investment deal linked to Cordoba in 2024.

Cohen says he was told Cordoba were debt-free when he agreed to invest. He now alleges that the club was in fact carrying debts of around $23 million (£16.9m) at the time.

He argues that this information was crucial to his decision and that he would not have invested had he known the club’s true financial position.

The legal documents also allege that Bord wrongfully took control of a Bitcoin account belonging to Cohen, valued at approximately $6m.

Cohen says that Bord failed to formally confirm his stake in Cordoba through a written contract, ignoring numerous notifications to do so.

One of the more unusual claims in the filing is that Bord offered Cohen a ‘coupon’ in exchange for a share in the club, a proposal his team suggests was not a serious or fair arrangement.

Cohen’s lawyers, Holland & Hart LLP, are seeking punitive damages. They argue that Bord’s actions amount to fraud, oppression and deliberate wrongdoing. 

The law firm has filed seven separate claims, including fraudulent inducement, unjust enrichment and breach of confidence.

Bord’s representatives have responded by referring to the situation as a ‘deeply upsetting matter’ for their client.

They have also claimed that over the past few years, Bord has ‘helped and supported Jonathan [Cohen] financially and personally, and has long considered him a friend’.

It is unclear how the situation will affect Bord’s Wednesday takeover, which is still pending approval from the English Football League.