The English Football League (EFL) is conducting a detailed review of the proposed takeover of Sheffield Wednesday to determine if the funding primarily stems from gambling and crypto-gambling activities. A consortium led by professional poker player James Bord and crypto-gambling casino owner Felix Roemer received preferred bidder status from the club’s administrators on Christmas Eve.
EFL’s Owners’ and Directors’ Test in Focus
The EFL is evaluating whether the bidders meet the criteria of its owners’ and directors’ test (ODT). At the season’s end, these assessments will transition to the Independent Football Regulator, which will handle the Sheffield Wednesday case if unresolved. This regulator possesses broader investigative powers, sanctions, and enforcement capabilities compared to the EFL.
The Bord-Roemer group has deposited several million pounds to secure exclusive negotiation rights for the £30 million-plus purchase, including three years of operating costs. Administrators Begbies Traynor have received proof of funding availability, but the EFL is scrutinizing the sources closely. Early-stage due diligence highlights potential complications due to the buyers’ ties to gambling.
An EFL spokesperson confirms that the ODT process remains underway.
Bidders’ Background and Funding Sources
James Bord, 44, has career poker winnings estimated at £3 million and has worked with data-driven betting firms. Industry sources describe him as a successful gambler. He co-owns Scottish Championship side Dunfermline with fellow poker player Evan Sofa and holds stakes in Spanish club Córdoba and Bulgarian team Septemvri Sofia.
Felix Roemer’s funding traces to his ownership of Gamdom, an offshore crypto-gambling casino and sports betting site registered in the Comoros Islands. The platform has faced regulatory fines and bans in countries like Spain, Sweden, and the Netherlands for unlicensed operations.
Bord’s company, Short Circuit Science, focuses on data and analytics and operates offshore, with no public details on staff or operations. It previously advised Sheffield United on player recruitment until Bord’s involvement in the Wednesday bid surfaced.
Advisers for Bord and Roemer state that the bid relies on private funding from technology and analytics investments, offering no further specifics.
Precedents and Regulatory Hurdles
Clubs like Brighton, owned by Tony Bloom, and Brentford, owned by Matthew Benham, receive exemptions from the Football Association’s 2014 ban on football betting for participants. These owners permit independent audits of their betting consultancies, Starlizard and Smartodds, to confirm no football betting occurs. Bord and Roemer may need similar agreements, though approval remains uncertain since they were not owners when the rules took effect. The FA is coordinating with the EFL.
The consortium outbid six rivals, including former Newcastle owner Mike Ashley, after Sheffield Wednesday entered administration in October. Administrators maintain confidence in the group but anticipate a lengthy ODT, prompting player sales for cash flow. Captain Barry Bannan joined Millwall, and Chelsea paid £500,000 for 17-year-old defender Yisa Alao.
Calls for Thorough Scrutiny
Labour MP Clive Betts, representing Sheffield South East, calls for a rigorous EFL process despite urgency for completion. “The source of funding has to be a concern, given the inherent volatility of those industries,” Betts states. “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.”
