\n<\/p>\n
The Owls have been in administration since October after 10 years under the ownership of Dejphon Chansiri.<\/p>\n
They were relegated from the Championship on Sunday following a 2-1 defeat at city rivals Sheffield United. It was the earliest-ever relegation in English football.<\/p>\n
Administrators Begbies Traynor chose the Bord group after it paid a non-refundable deposit of \u00a32.5m. <\/p>\n
The trio have been going through the owners and directors’ test with the EFL and the new Independent Football Regulator since then.<\/p>\n
BBC Sport understands the financial and background checks had been particularly challenging. <\/p>\n
Significant amounts of documentation was still outstanding at the time the preferred bidder withdrew.<\/p>\n
It has been funding the club’s losses since then to the tune of about \u00a31m a month. <\/p>\n
A further payment was due this week to extend the preferred bidder status by a further two weeks. <\/p>\n
But the group has pulled out because the club’s valuation is now considered to be lower than the \u00a347.8m <\/b>originally offered and the consortium are unable to negotiate down, as per the terms of their agreement.<\/p>\n
It leaves administrators needing to find another buyer.<\/p>\n
In a statement, Sheffield Wednesday’s joint administrators said: “The withdrawal of this bidder does not mean we are returning to the beginning of the process.<\/p>\n
“We have already been contacted by other parties who previously participated in the sales process and who have reiterated their interest in acquiring the club.<\/p>\n
“We are therefore moving immediately to re-engage with those bidders under a new expedited timetable.”<\/p>\n
Adding that the focus on getting the club out of administration and securing its long-term future remains in place, it continued: “We understand that this news will be disappointing and frustrating for supporters. <\/p>\n
“However, the club remains operational, funded for the remainder of the season, and interest in the acquisition remains active.”<\/p>\n
BBC Sport understands the Bord bid was significantly higher than any other interested parties – and that no other bid matched the requirement for 25p in the pound for creditors.<\/p>\n
If the new owners do not pay 25p in the pound, the EFL’s insolvency policy states the club must start the following season with a 15-point deduction. <\/p>\n
The Owls have already been docked 18 points this season for financial infringements under Chansiri.<\/p>\n
Former Crystal Palace owner Simon Jordan, who at one stage was involved in a consortium which was considering a bid, says that automatic 15-point penalty should be challenged.<\/p>\n
On Tuesday, another consortium led by American businessman David Storch stated it was still interested. <\/p>\n
“We remain incredibly passionate about the opportunity at Sheffield Wednesday and seeing the club return to its former glory,” the statement read. <\/p>\n
“We wish the preferred bidder well through the process but are ready to step in should the opportunity present itself again. <\/p>\n
“We know all are disappointed by relegation yet wish the team well as they finish the current season.”<\/p>\n<\/div>\n
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The Owls have been in administration since October after 10 years under the ownership of Dejphon Chansiri. They were relegated from the Championship on Sunday following a 2-1 defeat at city rivals Sheffield United. It was the earliest-ever relegation in English football. Administrators Begbies Traynor chose the Bord group after it paid a non-refundable deposit<\/p>\n","protected":false},"author":1,"featured_media":9482,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-9481","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-football"],"_links":{"self":[{"href":"https:\/\/outdoorthrill.cfd\/index.php?rest_route=\/wp\/v2\/posts\/9481","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/outdoorthrill.cfd\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/outdoorthrill.cfd\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/outdoorthrill.cfd\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/outdoorthrill.cfd\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9481"}],"version-history":[{"count":0,"href":"https:\/\/outdoorthrill.cfd\/index.php?rest_route=\/wp\/v2\/posts\/9481\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/outdoorthrill.cfd\/index.php?rest_route=\/wp\/v2\/media\/9482"}],"wp:attachment":[{"href":"https:\/\/outdoorthrill.cfd\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/outdoorthrill.cfd\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9481"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/outdoorthrill.cfd\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}