New Sheffield Wednesday takeover timescale should excite Owls fans but concern lingers | OneFootball

Sheffield Wednesday could be bought in six weeks, but the takeover process is unlikely to be straightforward.

Sheffield Wednesday were relegated from the Championship on Sunday, thanks to their 2-1 defeat to Sheffield United at Bramall Lane, meaning that the Owls are now more focused than ever on their takeover efforts.

The Hillsborough club have been resigned to an unwanted League One return for months because former owner Dejphon Chansiri's reckless actions plunged the Steel City outfit into administration, causing point deductions and numerous player exits.

Wednesday remain on negative points following Sunday's defeat to fierce rivals United, and may struggle to reach a positive points tally by the end of the Championship campaign.

Henrik Pedersen's side endured an incredibly difficult transfer window last summer, while supporters were left particularly emotional when Owls legend Barry Bannan joined Millwall in the winter window.

Sheffield Wednesday takeover timescale emerges

Wednesday will be desperate to give supporters something to cheer about in the latter stages of the Championship season now that their relegation has been confirmed.

Meanwhile, James Bord has been named by the Owls' administrators as their preferred bidder, putting him in pole position to take the South Yorkshire club out of administration.

Bord's Wednesday takeover is expected to be completed by April, which would mean it is ratified by the EFL, rather than the Independent Football Regulator, who will not have such powers until May.

Owls administrator Wigfield has revealed that the American is currently funding the Hillsborough club's cashflow losses on a rolling, fortnightly basis.

Such financial commitment shows how keen Bord is to ensure that he gets his takeover across the line.

Meanwhile, Wigfield has revealed that Wednesday are losing £1million a month, which highlights the damage that Chansiri inflicted on the S6 club.

James Bord complications could alter Sheffield Wednesday takeover timescale

Wednesday supporters will be cautiously optimistic regarding the news that Bord could complete his takeover before the Championship season concludes.

However, this campaign has highlighted to the Hillsborough faithful that football ownership is far from straightforward.

Bord is being sued by his former business partner, Jonathan Cohen, regarding his investment in Spanish second-tier outfit Cordoba.

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

Meanwhile, as reported by The Guardian, the EFL are working to establish whether Wednesday's preferred bidder's takeover will be largely funded by gambling and crypto-gambling proceeds as they assess if he fits their Owners' and Directors' test requirements.

Any complications regarding either Cohen's case against Bord or the EFL's Owners' and Directors' test could alter the timescale of the Owls' prospective takeover.

Delays will frustrate the Wednesday fanbase, who will desperately want to see their club moving in the right direction again, well in advance of next season.

The South Yorkshire club cannot possibly plan for their League One campaign until a new owner is at the helm, as the Owls' next board have significant decisions to make, not least regarding the future of boss Pedersen.

Pedersen has been dealt an incredibly tough hand, as his squad is composed of several inexperienced players and loan signings, highlighting the lack of stability in S6.

Meanwhile, as delays in the takeover process may rightly frustrate the Hillsborough faithful, the disastrous reign of Chansiri proved how damaging bad owners can be, justifying the various checks and balances that have to be conducted.