Sheffield Wednesday takeover news: Mike Ashley on standby, James Bord offer | OneFootball

All the latest news surrounding the takeover process at Sheffield Wednesday

It has now been over 100 days since Sheffield Wednesday went into administration in October.

The Owls’ previous owner Dejphon Chansiri was a massively unpopular figure as the team struggled due to their financial mismanagement.

Begbies Traynor were brought in to oversee a change in ownership, and a bid led by James Bord was named as their preferred option to take over the Championship side.

That decision was made in December, but we are still awaiting ratification of the deal by the EFL.

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

Independent regulator’s potential Sheffield Wednesday impact

It remains unclear when a decision will be made by the EFL regarding Bord’s attempt to buy Sheffield Wednesday.

According to The Times, the United Kingdom’s independent football regulator (IFR) will take on the case by May if no progress has been made.

It’s believed that this will be within the powers of the IFR, who have made contact with the EFL and Begbies Traynor already regarding the case.

Supporters will be hoping that a resolution is found by then, but if ratification is yet to be given by that point then the IFR will take control of that process.

January sales kept the lights on at Sheffield Wednesday

The sales of Yisa Alao and Bailey Cadamarteri in the closing stages of the January transfer window came as a blow to Sheffield Wednesday.

The pair were both key parts of Henrik Pedersen’s squad, and they possessed the potential to do big things at Hillsborough.

However, they were sold to Chelsea and Wrexham respectively, and the club’s administrators have now confirmed that this decision was made to ensure that bills are paid.

Kris Wigfield wrote in a statement on the club’s website that it was within their duty to ensure funds are available for the day-to-day running of the Owls, as they have to plan for every possible outcome, even with a preferred bidder already named.

Mike Ashley and the Storch family are on standby

While Bord’s consortium was named as the preferred bidder in December, it remains to be seen whether his proposed takeover will be ratified by the EFL.

There are reportedly doubts regarding their ability to pass the Owners and Director’ Test.

It has been claimed by The Times that both Mike Ashley and the Storch family, who were both involved in the initial bidding process, are on standby in case the takeover collapses.

It is also believed that other bidders may emerge, with a number of other parties involved in the negotiating process in the weeks leading up to Bord’s offer being named as the preferred option.

Sheffield Wednesday takeover finances

It has been revealed just how much Bord has offered to buy Sheffield Wednesday for amid a £30 million reserve price.

According to The Times, the former poker players’ consortium have agreed a £32.5 million deal for the Championship side.

It’s understood that this blew away the rival bidders, and it should ensure that all creditors are paid in full, which will avoid the club suffering a 15 point deduction penalty next season.

It has also been claimed