Sheffield Wednesday takeover: Clarity on James Bord deal after relegation | OneFootball

James Bord's Sheffield Wednesday takeover deal has not been affected by the Owls' relegation from the Championship to League One.

James Bord still has financial hurdles to jump to complete his Sheffield Wednesday takeover ahead of next season.

The Owls' inevitable relegation to League One was finally confirmed on Sunday when they were beaten 2-1 by Sheffield United in the Steel City Derby at Bramall Lane.

Henrik Pedersen's men have failed to win since their Championship triumph over Portsmouth back in September, and remain on -7 points, thanks to deductions.

The Hillsborough outfit will hope to restore some pride when they travel to Norwich City on Wednesday.

James Bord still owes £15m to Dejphon Chansiri as he readies Sheffield Wednesday takeover

Former Wednesday owner Dejphon Chansiri is responsible for the fact that the Steel City club are currently in administration, and consistently failed to pay player and staff wages on time before his exit.

The Thai businessman's financial mismanagement at Hillsborough prompted the departures of several star players last summer, as well as that of ex-manager Danny Rohl.

Meanwhile, Bord's company Short Circuit Science remains the Owls' preferred bidder as administrators Begbies Traynor look to put the South Yorkshire outfit into new hands.

Reporting via X on Tuesday, Sky Sports' Rob Dorsett revealed that Bord's takeover deal has not been affected by Wednesday's relegation to League One. Dorsett's post added that £5million is still owed to HMRC and other clubs for outstanding transfer payments, while a further £15m is owed to Chansiri.

The report also said that the finances have all been agreed with Bord, and it is in the hands of the EFL and Independent Football Regulator to complete the deal through the Owners' and Directors' Test.

The Independent Football Regulator doesn't have the power to assess new owners until May, meaning that such duties will lie with the EFL before then.

James Bord still has potential obstacles in the way of Sheffield Wednesday deal

The fact that relegation hasn't affected Bord's takeover comes as no surprise, because Wednesday never had any realistic chance of obtaining Championship survival this term.

However, there are other potential obstacles in the way of the American's takeover deal, even though the finances have been agreed.

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

As reported by The Times, Cohen has alleged that Wednesday's prospective owner deceived him into thinking that Cordoba were debt-free, when they actually had debts of around £16.9m.

The ramifications of the case could delay Bord's Owls takeover.

Meanwhile, according to The Guardian, the EFL are working to establish if the American's Wednesday purchase would be largely funded by gambling and crypto-gambling proceeds, as they assess whether Bord meets the criteria of their Owners' and Directors' Test.

The Owls have endured one of the toughest seasons in their history, and supporters will hope that the sale of their club happens sooner rather than later, so that planning for next campaign can be completed in a timely fashion.

Wednesday's takeover could be completed in six weeks, meaning that the deal would be ratified by the EFL rather than the Independent Football Regulator.

Should the administrators and any further checks and balances stick to that timescale, Bord will soon be able to make key decisions, including whether Pedersen will remain in the dugout.