Sheffield Wednesday news: James Bord takeover concern, EFL ratification timeframe, exits confirmed | OneFootball

All the latest news surrounding the takeover situation at Sheffield Wednesday

Sheffield Wednesday remain in takeover limbo following their move into administration in October.

The Owls were appointed Begbies Traynor to oversee their finances after previous owner Dejphon Chansiri’s mismanagement finally caught up with him.

The Thai businessman has been removed as the owner of the Yorkshire outfit, but his replacement has not yet been confirmed officially.

While the bid led by James Bord was named by the administrators as the preferred choice to take over the Championship side in December, the move has not yet been ratified by the EFL.

Here we look at all the latest news surrounding the takeover situation at Sheffield Wednesday…

Sheffield Wednesday in takeover limbo

According to the Guardian, the EFL are taking their time with the ratification process of the Bord-led bid to buy the club.

It is believed that there are extensive checks being undertaken to ensure that Bord and Felix Roemer both pass the Owners and Directors Test.

Bord’s background in gambling is seen as a potential concern, with the 45-year-old previously working as a poker player.

The EFL could deny the bid from purchasing the Owls if they deem Bord and/or Roemer to be unfit to own a team in their leagues.

It’s understood that due diligence is still in the early stages, with the source of their funding currently being scrutinised.

No timeframe given for EFL approval

With due diligence still in the early phases, the EFL are unable to give an immediate timeframe for when approval could be given to Bord’s bid for Sheffield Wednesday.

It’s believed that a deposit has already been paid by the prospective new owners of the Championship side as part of their £30 million agreement.

Bord would not be the first person to purchase a club in England with a background in English football, with Brighton and Brentford’s owners also working in the gambling industry.

Both Tony Bloom and Matthew Benham were given special dispensation from the Football Association.

As part of that agreement, the accounts of their betting consultancy firms Starlizard and Smartodds are audited to ensure they do not gamble on football, which Bord may also need to agree to.

Sheffield Wednesday complete deadline day signings

Despite the uncertainties surrounding the ownership of the club at the moment, Sheffield Wednesday were still able to complete three signings on deadline day.

The winter market proved difficult for the Owls, who still require EFL approval before making any first team additions.

But they were able to complete moves for Tayo Adaramole and Joel Ndala from Crystal Palace and Manchester City, respectively, with the pair joining on loan.

Marvelous Nakamba also made the switch to Hillsborough on a deal to the end of the campaign, arriving as a free agent after his exit from Luton Town.

Bailey Cadamarteri exit

Incomings weren’t the only story of deadline day for Sheffield Wednesday, who also made a seven-figure sum from the sale of Bailey Cadamarteri.

It has been reported by The Star that a deal around the £1 million mark was concluded with Wrexham for the 20-year-old.

A sell-on clause and add-ons have also been agreed, meaning the move could rise in value significantly in the years to come.

The financial situation at Hillsborough remains on sketchy ground while the club awaits ratification of Bord’s offer to take over from the EFL, which has likely played a role in the decision to cash in on the forward.