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Dunfermline owner swoops for Wednesday

A consortium led by James Bord, owner of Scottish club Dunfermline Athletic, has been named as the preferred bidder to purchase Championship club Sheffield Wednesday.  Bord, 44, was selected over a group led by the Chicago-based Storch family and former Newcastle United owner Mike Ashley who were seen as the front runners.

Joint administrator Paul Stanley said: “From a financial perspective, the proposed financial offer from the preferred bidder provides certainty for the club. The consortium we intend to progress with has submitted the strongest overall proposal for the club.

“This includes: A fully funded offer, clear financial assurances to support the club’s trading requirements, a structure that allows all creditor obligations to be dealt with in accordance with EFL rules, meaning no further sporting sanctions are anticipated as part of the transaction.”

Bord is a former professional poker player who founded his own consultancy called Short Circuit Science in 2016, which focuses on climate change, pharmaceuticals and sport. Short Circuit have advised Wednesday’s rivals Sheffield United and Premier League club Tottenham Hotspur.

The concept of football ownership is not new to Bord. He was part of a group of U.S.-based investors who purchased a 37 per cent stake in Spanish second-tier team Cordoba last year and then bought a 25 per cent share of Bulgarian side Septemvri Sofia, before taking over Dunfermline in January.

If Bord’s consortium are unwilling to pay off all of the club’s secured debt and a quarter of its unsecured debt, Wednesday will be served with a 15-point penalty next season, when they will almost certainly be in League One.

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