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SWFC News: Owls Takeover Collapses - James Bord-Led Consortium Withdraws From Process
The consortium withdrew after valuing Sheffield Wednesday significantly lower than their original bid and amid prolonged vetting and fit-and-proper checks, funding losses of about £1 million monthly.
- On Wednesday, the takeover of Sheffield Wednesday by a consortium led by James Bord collapsed, with consortium member Alsharif Faisal Bin Jamil confirming they will not re-enter the bid.
- The consortium said its reassessment left it valuing Sheffield Wednesday 'significantly lower' after weeks of vetting and exchanges with authorities over the EFL Owners and Directors Test and IFR vetting processes.
- After Begbies Traynor vetted three formal bidders, the Bord consortium was named preferred bidder on Christmas Eve, with a bid some way higher than 30m.
- Bord's group paid a hefty deposit and funded losses at around £1m per month, and The Star understands those payments are not refundable under the agreement.
- Last week, a tranche of information was exchanged at authorities' request, and player sales in January guarded against loss of consortium cashflow should bidder involvement cease.
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Keighley News+4 Reposted by 4 other sources
Mike Ashley exploring deal to buy Sheffield Wednesday after takeover collapse
Administrators will meet with a representative of former Newcastle owner Ashley on Thursday.
·Keighley, United Kingdom
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Sheffield Wednesday plunged into chaos as takeover bid pulls out days after relegation
Sheffield Wednesday's turmoil has intensified following the withdrawal of James Bord's consortium from their proposed takeover, coming merely 72 hours after the club dropped into League One
·London, United Kingdom
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SWFC News: Owls takeover collapses - James Bord-led consortium withdraws from process
The takeover of Sheffield Wednesday by a consortium led by James Bord has collapsed, with the group having moved to signal their withdrawal from proceedings, The Star can reveal.
·Sheffield, United Kingdom
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Sheffield Wednesday takeover: Consortium led by Dunfermline co-owner James Bord withdraws interest in beleaguered Owls
The consortium featuring James Bord - the co-owner of Dunfermline - was granted exclusivity by club administrators in December; Sheffield Wednesday were relegated from the Sky Bet Championship after Steel City defeat on Sunday
·United Kingdom
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Total News Sources11
Leaning Left3Leaning Right1Center4Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 38%
C 50%
12%
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