Sheffield Wednesday’s Potential Buyout Under Review
The English Football League (EFL) continues to evaluate the proposed takeover of Sheffield Wednesday, focusing on whether the deal relies heavily on funds from gambling and crypto-gambling activities. Administrators granted preferred bidder status to a consortium on Christmas Eve, with key financing from professional poker player James Bord and crypto-gambling casino owner Felix Roemer.
The EFL examines compliance with its owners’ and directors’ test (ODT). At season’s end, the Independent Football Regulator assumes these reviews, potentially handling the Sheffield Wednesday case if unresolved. This regulator possesses broader investigative, sanctioning, and enforcement powers compared to the EFL.
Details of the Consortium’s Bid
The Bord-Roemer group secured exclusive negotiating rights with a multimillion-pound deposit. They submitted proof to administrators Begbies Traynor confirming funds for the £30 million-plus purchase and three years of operations. Current EFL analysis targets the origins of these funds, as the bidders’ gambling ties may hinder approval. Sources note the due diligence remains in preliminary phases.
An EFL spokesperson confirmed the ODT process is active. Other clubs linked to gambling firms, such as Tony Bloom’s Brighton and Matthew Benham’s Brentford, operate under Football Association (FA) exemptions from the 2014 ban on football betting. These owners permit independent audits of their betting consultancies, Starlizard and Smartodds, to verify no football wagers occur. Bord and Roemer might need similar commitments, though FA approval remains uncertain. Bloom and Benham held ownership when rules took effect, and the FA coordinates with the EFL.
Background on the Bidders
James Bord, 44, boasts reported poker winnings around £3 million and experience with Bloom and Benham’s data-driven betting operations. Industry insiders describe him as a proficient gambler. Advisers for Bord and Roemer state the bid draws from private investments in technology and analytics, offering no further specifics.
Felix Roemer’s contributions stem more directly from Gamdom, his crypto-gambling casino and sports betting platform. Registered in the Comoros Islands, it faces past regulatory penalties in Spain, Sweden, and the Netherlands for unlicensed operations via its former entity, Smein Hosting NV.
Bord co-owns Scottish Championship side Dunfermline with poker player Evan Sofa, plus interests in Spanish club Córdoba and Bulgarian team Septemvri Sofia. His analytics firm, Short Circuit Science, operates offshore without UK or US registration, lacking public details on staff or activities. It previously advised Sheffield United on recruitment until Bord’s Wednesday bid surfaced.
Competition and Club Updates
The consortium outbid six rivals, including ex-Newcastle owner Mike Ashley, following the club’s October administration. Begbies Traynor maintains trust in the group but anticipates a lengthy ODT, prompting recent player sales for cash flow. Captain Barry Bannan joined Millwall, and Chelsea paid £500,000 for 17-year-old defender Yisa Alao.
Sheffield South East Labour MP Clive Betts calls for thorough EFL scrutiny despite favoring a swift sale. “The source of funding has to be a concern, given the inherent volatility of those industries,” Betts stated. “Even if the EFL approves the takeover, what level of sustainability is there? These are issues that need to be addressed. I’m sure the regulator will be taking a close look, as even if they aren’t running the ODT they could inherit these owners. This is a massive test for the regulator. Given the nature of the bidders they will want to ensure there’s a thorough process, and it could take a long time.”
