Preferred bidders quit Sheffield Wednesday takeover
Sheffield Wednesday’s future has been thrown into fresh doubt after the consortium named as preferred bidders to buy the troubled club pulled out of the deal. The group, led by professional poker player James Bord, had been funding the Championship side’s losses since being selected by administrators Begbies Traynor on December 24. But they now say the club’s initial valuation of more than £32 million is too high and have “regretfully” decided to withdraw. The consortium, which includes Felix Romer and Abdullah Faisal Bin Jamil, had already paid a non refundable £2.5 million deposit for exclusivity after former owner Dejphon Chansiri placed the club in administration in October following a decade in charge. In a statement, the group said their original bid limited their ability to renegotiate, even though lengthy due diligence showed the figure they offered was far above […]