Sheffield Wednesday takeover: New James Bord twist emerges | OneFootball

Sheffield Wednesday prospective owner James Bord is being sued by former business partner Jonathan Cohen.

James Bord has been named as Sheffield Wednesday's preferred bidder, but he has encountered a major stumbling block amid the takeover process.

The Owls endured their 23rd Championship defeat of the season on Saturday, when they were beaten 2-1 by Millwall despite opening the scoring through Jamal Lowe on the hour mark.

Meanwhile, Wednesday are losing £1million a month, amid their continued spell in administration.

The South Yorkshire outfit will be eager to end their poor run of form this Sunday, when they encounter Sheffield United in the Steel City Derby.

Sheffield Wednesday prospective owner James Bord sued by former business partner

Bord's proposed Wednesday takeover is yet to be completed, leaving the Owls unable to make effective plans for the future.

As reported by The Times, the American is being sued by his former business partner, Jonathan Cohen, over an investment made in Cordoba, a Spanish club part-owned by Bord.

The report adds that Cohen has alleged that Wednesday's prospective owner 'wilfully' deceived him into thinking that Cordoba were debt-free when he agreed to invest in the second-tier outfit in 2024, while the club were actually around £16.9m in debt.

The Times added that the case will raise fears over whether Bord could fail the EFL's owners' and directors' test.

James Bord uncertainty is the last thing Sheffield Wednesday need

Wednesday have already endured an extremely tough campaign both on and off the field, accepting the reality that they will be playing their football in League One next term.

The Owls faithful will want their club to be taken over as soon as possible, so that they can exit administration and begin plotting a potential Championship return.

However, the EFL are currently working to establish whether Bord's Wednesday takeover would be largely funded by gambling and crypto-gambling proceeds, which has caused a delay.

Meanwhile, the news that Bord is currently being sued by Cohen will rightfully cause anxiety among Owls supporters.

As per The Times, section six of the EFL's handbook says a prospective owner or director can be rejected if: "They are subject to any unsatisfied judgment or court order for payment of any monetary amount (provided all appeal rights have been exhausted)."

Therefore, the outcome of the case between Cohen and Bord could impact whether Wednesday's takeover is completed.

Henrik Pedersen's side will be disappointed to hear of further uncertainty, as the Owls' financial plight has severely affected on-field performances.

Saturday's defeat to Millwall marked the first game in which Pedersen's men scored since their 2-2 draw with Hull City at Hillsborough on Boxing Day.

The Owls will vie to make a good account of themselves when they clash with Sheffield United, who re-established their play-off credentials with a 1-0 victory at Portsmouth.