Finance expert drops Sheffield Wednesday 'dodged a bullet' claim involving James Bord | OneFootball

Football finance expert Kieran Maguire has outlined why Sheffield Wednesday may be better off now that James Bord's takeover bid has collapsed.

Football finance expert Kieran Maguire has explained why Sheffield Wednesday have 'dodged a bullet' amid the news that James Bord's takeover bid has collapsed.

Bord has lost £4million by funding Wednesday's cashflow losses while he enjoyed preferred bidder status, but his consortium pulled out of a deal, as they believed that the Owls' value was significantly lower than that of their bid.

Now that the former professional poker player is no longer keen on purchasing the Hillsborough club, the administrators must turn their attention elsewhere.

David Storch remains keen on a Wednesday takeover, while ex-Newcastle United owner Mike Ashley is also firmly on the scene.

Kieran Maguire explains why Sheffield Wednesday should be better off without James Bord

Sheffield South East MP Clive Betts has urged the EFL not to give Wednesday further point deductions as the Owls remain in administration.

Meanwhile, discussing the collapse of Bord's deal on BBC Radio Sheffield, football finance expert Maguire said: "It's frustrating. It must be very annoying for Owls fans, but to a certain extent, they've probably dodged a bullet here, in terms of the price couldn't be justified in any way, shape, or form that was being offered.

"So, that should have caused a few raised eyebrows, and it looks as if the funding perhaps wasn't there. Perhaps they were going round with a glorified begging bowl trying to get other people to come into the consortium, and they weren't getting positive responses."

Bord's consortium bid £47.8m for Wednesday, which they ultimately felt was an unjustified amount to spend on the South Yorkshire club, who have already been relegated to League One.

Meanwhile, alongside the concerns expressed by Maguire, there were other red flags against Bord's name.

For instance, the American is being sued by his former business partner, Jonathan Cohen, over investment in Spanish second-tier outfit Cordoba.

According to The Times, Cohen alleged that Bord told him Cordoba were debt-free when they were actually around £16.9m in debt.

The EFL were also working to establish whether Bord's takeover would have been largely funded by gambling and crypto-gambling operations, in line with their Owners' and Directors' test.

Wednesday's next preferred bidder will be assessed by the EFL, but the Independent Football Regulator will inherit the power to ratify takeovers by May.

Sheffield Wednesday need quick takeover progress following James Bord collapse

As outlined by Maguire, Bord may not have been the right man to take Wednesday forward.

However, the time period when he was the Owls' preferred bidder was still a sign of hope for the Hillsborough faithful, who are desperate to see their side exit administration as soon as possible.

Now that Bord's takeover deal has fallen through, Wednesday fans will still hold that sentiment, as the South Yorkshire club need new owners in place to effectively rebuild ahead of next term's League One campaign.

The Owls still have several important decisions to make, including that of boss Henrik Pedersen's future, while former head of recruitment Kevin Beadell has left, leaving the next owners with a significant vacancy to fill.

Wednesday's next owner will also have to oversee a busy summer transfer window to heavily bolster a squad that is predominantly composed of short-term signings and inexperienced players.