James Bord consortium pull out of Sheffield Wednesday takeover talks

The consortium led by James Bord has pulled out of its proposed £47.8m takeover of Sheffield Wednesday, leaving the Championship club still searching for new owners while in administration, BBC Sport has reported.

Bord’s group had been named preferred bidders in December and had since spent more than £4m helping to fund the club’s running costs. However, in a statement released on Wednesday, the consortium said “the historic mishandling of the club and pattern of catastrophic underinvestment means our sizeable binding bid can no longer be justified.” They added that they “know this will be a bitter disappointment to many” and apologised to supporters who had hoped the long-running ownership saga was nearing an end.

Administrators Begbies Traynor now face the task of finding an alternative buyer, although they say other interested parties have already come forward. The club remains operational and funded until the end of the season, but its long-term future remains uncertain.

Wednesday have been in administration since October following financial problems during Dejphon Chansiri’s ownership, and their relegation earlier this week has added to the challenges ahead. Under English Football League rules, failure to meet creditor repayment conditions could also lead to further points deductions, increasing the pressure to secure new investment quickly.

GFN | Finn Entwistle