Sheffield Wednesday is back on the hunt for new owners, just days after becoming the earliest-ever relegated team in the English Football League.
Takeover talks around Sheffield Wednesday have collapsed, according to information from the club’s preferred bidder The Bord consortium.
Today (25 February), the group led by American poker player James Bord decided to remove itself from the process after reassessing the club’s finances and concluding its valuation was “significantly lower” than the £30m ($40.5m) bid they had originally submitted.
“Throughout the process to purchase Sheffield Wednesday Football Club we have at all times respected the integrity of the process, working professionally, constructively and transparently with the administrator, the EFL and the IFR to provide them with the details they need to satisfy their tests,” the group said in a statement, reported by Joe Crann.
“Our initial bid had constraints applied on our ability to renegotiate – which is crucial as the figure we offered is significantly higher than that justified by the findings of a lengthy due diligence process.”
The consortium added it had “genuinely believed we could play a positive long-term role as custodians of one of the greatest clubs in English football” and that “our admiration for the Club and its supporters remains undiminished.”
Administrators named The Bord consortium the preferred bidder on 24 December 2025, after submitting the largest offer. At the time, the proposal offered a rare glimmer of hope for supporters after a season of turmoil under former owner Dejphon Chansiri.
Chansiri bought the club in 2015 and oversaw a period of ambitious investment, but in recent seasons the club’s operations have increasingly come under strain. Players were reportedly left unpaid at times, and financial pressures ultimately led to the club filing for administration in October 2025.
The Bord consortium initially appeared to be making a positive impression, even funding the club’s operating losses while discussions continued.
What happens next for Sheffield Wednesday?
With the Bord consortium withdrawing, the responsibility now falls to administrators Begbies Traynor to support Sheffield Wednesday through the next stage of the takeover process. A formal statement to fans is expected in the coming days, providing clarity on the situation and the search for a new buyer.
Several potential bidders are understood to be monitoring developments closely. Among them is former Newcastle United owner Mike Ashley, who has previously expressed interest, and a consortium led by David Storch, which has remained eager to take control should an opportunity arise.
The club continues to operate at a financial loss, and with the Bord consortium no longer covering shortfalls, any incoming bidder will likely need to assume similar commitments.
Fans will undoubtedy play a vital role in sustaining the club in the interim, with administrators and potential buyers expected to urge supporters to continue attending matches, buying merchandise and backing the team wherever possible.
When the club first entered administration, fans were widely praised for their response, reportedly setting a new matchday revenue record even during a 3-0 loss to local rivals Sheffield United.
