Why Sheffield Wednesday could be forced to follow the Brentford and Brighton ownership model if a takeover is approved
More than a month has now passed since Sheffield Wednesday confirmed that a preferred bidder had been selected to take the club out of administration, yet tangible progress has been limited and supporters are still waiting for meaningful updates.
Although the administrators from Begbies Traynor — a group that notably includes lifelong Wednesday supporter Kris Wigfield — have not officially revealed the identity of the bidder, it is widely accepted that the individual leading the proposed takeover is entrepreneur and professional poker player James Bord, a detail that first emerged in reports on Christmas Eve.
Football club takeovers are rarely quick or straightforward, particularly when the English Football League is involved. The EFL must conduct an in-depth examination of Bord’s background, financial dealings, and business conduct, as well as those of his partners, Felix Roemer and Alsharif Faisal Bin Jamil. This scrutiny forms part of the Owners’ and Directors’ Test, a process that is both complex and time-consuming by design.
In addition to determining whether the proposed ownership group is suitable to take control of the South Yorkshire club, the EFL may also require Bord to meet extra conditions due to his history within the gambling industry.
While Bord has business interests beyond gambling — including founding the data science company shortcircuit.science — a significant portion of his wealth has been accumulated through his career as a professional poker player. Furthermore, one of his financial backers, Felix Roemer, is reported to have generated wealth through cryptocurrency trading, an area that may raise additional concerns during regulatory assessments.
According to recent reporting by The Guardian, the EFL is closely scrutinising the origins of the funds that Bord and his partners intend to invest in Sheffield Wednesday. The report suggests that the due diligence process is still in its early stages, indicating that a final decision could take considerable time.
To successfully navigate these checks, Bord and his associates may need to adopt an approach similar to that used by two well-established and successful football club owners with gambling backgrounds: Tony Bloom at Brighton & Hove Albion and Matthew Benham at Brentford.
Both Bloom and Benham have overseen remarkable rises for their respective clubs, guiding them through the divisions and establishing them as Premier League sides. Like Bord, both men made their fortunes in gambling-related ventures. Benham founded Smartodds, while Bloom created Starlizard — businesses that remain their primary interests outside football.
As part of their ownership arrangements, both companies are subject to independent audits on behalf of the Football Association. These audits exist to ensure compliance with long-standing regulations that prohibit anyone involved in football from betting on the sport. These rules have been in place for over a decade and are strictly enforced.
It is believed that Bord and Roemer may need to agree to a comparable auditing arrangement with both the FA and the EFL in order to satisfy regulatory requirements and pass the Owners’ and Directors’ Test. However, approval is far from guaranteed, particularly as Bloom and Benham were already established club owners when the current gambling regulations were introduced.
While administrators have recently reassured supporters that the sale process is moving forward — and that the preferred bidder has committed to covering any ongoing financial losses — many Sheffield Wednesday fans remain anxious that the takeover could stall or drag on indefinitely.
In fairness, the period since Bord was named preferred bidder is not unusually long by takeover standards, and further time may be needed before a clear outcome emerges. However, as the season edges closer to its conclusion, urgency is growing among the fanbase.
Supporters are keen to see new ownership in place as soon as possible, particularly with planning required for the 2026–27 campaign. To give the club the strongest chance of an immediate return from League One, decisive leadership and early strategic planning will be essential.
Whether James Bord will ultimately become that figure is still uncertain. For now, Sheffield Wednesday supporters may need to brace themselves for a longer wait before the future of their club is finally clarified.
