Latest news with #DejphonChansiri
The Guardian
5 hours ago
- Business
- The Guardian
Sheffield Wednesday reach point of no return under Chansiri's ownership
Sheffield Wednesday have been testing the patience of the EFL and their fans since the controversial sale of Hillsborough to the owner, Dejphon Chansiri, seven years ago, but even so the escalation of the club's crisis from alarming to existential has happened at some speed. After years of somehow coping with transfer embargoes, points deductions, missed tax bills and the late payment of players, Chansiri's turbulent ownership appears to be reaching the point of no return. Wednesday were last week banned by the EFL from spending money on transfers until January 2027 for exceeding '30 days of late payments' to players in the previous 12 months and, the league clarified on Friday, for another missed payment to HMRC. The club, who have appealed against that penalty, will be in danger of having no players if they fail to pay June's wages on Monday's due date. Under Fifa regulations players would be entitled to give notice of their intent to terminate their contracts. The regulations state: 'In the case of a club unlawfully failing to pay a player at least two monthly salaries on their due dates, the player will be deemed to have a just cause to terminate his contract, provided that he has put the debtor club in default in writing and has granted a deadline of at least 15 days for the debtor club to fully comply with its financial obligation(s). Alternative provisions in contracts existing at the time of this provision coming into force may be considered.' Wednesday are understood to have belatedly paid some players last month's wages – payments for March were also late – but not all of Danny Röhl's squad have received their salaries. A club source said May's salary payments had been targeted, with Chansiri making sure the younger players and those under contract were paid in order to protect their resale value, whereas older squad members approaching the end of their contracts were not. The captain, Barry Bannan, the striker Callum Paterson and the defender Akin Famewo are out of contract next week after rejecting new deals offered last month, and it is unclear whether they have been paid. After contemplating a no-show Bannan is understood to have reported for duty as instructed on the first day of pre-season training on Thursday, but Paterson and Famewo did not turn up. All of Röhl's coaching staff are also out of contract next week and the manager, despite having two years on a contract that includes a seven-figure release clause, is expected to depart sooner rather than later. The German was interviewed by Southampton before they appointed Will Still last month, and is admired by Leicester, who have parted company with Ruud van Nistelrooy. Röhl may choose to leave Hillsborough even without a job to go to. Wednesday do not have pre-season fixtures arranged beyond an under-21s game against Frickley Athletic, and planned renovations to their training ground, including the installation of two new pitches, have not been completed. Hillsborough is in need of a major overhaul, with the infrastructure of the 126-year-old ground so poor that the boiler was unable to generate sufficient hot water for the players to shower in comfort at various points last season. Chansiri is believed to have acknowledged the gravity of the situation, and is willing to engage in serious talks regarding a sale. For years his family have funded multimillion-pound losses at Wednesday from the profits of their seafood business, Thai Union Group – total losses over his 10-year stewardship are more than £150m – but no longer appear willing to subsidise the club. TUG remains the world's biggest suppliers of canned tuna but its stock value has halved over the past decade, with the value of Chansiri's stake dropping from £18m to £9m. The family's overall stake is worth about 20 times that amount. Wednesday are attracting potential buyers, with two US consortiums understood to be particularly interested, but none have got anywhere near what they regard as Chansiri's outlandish valuation. Towards the end of last year the 57-year-old was telling brokers that Wednesday were worth twice as much as Sheffield United, who were being bought for £111m, and although his asking price has dropped it remains far too high for the would-be buyers. Sign up to Football Daily Kick off your evenings with the Guardian's take on the world of football after newsletter promotion An independent analyst who has studied Wednesday's accounts said an enterprise value of about £40m was realistic given the club do not own Hillsborough, and that the amount could be doubled if the ground were part of a deal. The stadium is owned by a company called Sheffield 3 Limited, which is controlled by Chansiri. Wednesday's attempt to include the £60m stadium sale in their 2017-18 accounts for the purpose of profitability and sustainability regulations, even though it did not take place until the following season, led to their being docked six points by the EFL (reduced from 12 on appeal). Chansiri is conducting sale negotiations, often from Bangkok. Wednesday are woefully understaffed at management level, with no chief executive or sporting director, leaving the club secretary, Lindsey Hinton, to put out the fires locally. Chansiri issued a rare public statement on Thursday, saying a potential sale with an American group had collapsed after the buyer failed to pay a £5m deposit, but it will have done little to reassure supporters. 'I take full responsibility for being unable to fulfil my current obligations,' Chansiri said. 'But a further obligation I have is to ensure that if the club is sold, it is sold to the right people with the right credentials, who can sustain Sheffield Wednesday and take the club forward.'
The Independent
a day ago
- Business
- The Independent
Danny Rohl in talks to leave Sheffield Wednesday as club crisis worsens
Manager Danny Rohl is on the verge of leaving Sheffield Wednesday and is speaking to the club about his potential exit. The 36-year-old German has not returned to pre-season training with the Wednesday squad, as he seeks to negotiate a way out of his contract, in order to further his ambitions elsewhere. Having been linked with clubs such as Leicester City, Southampton and Middlesbrough, there may be a future for him in England but it's a return to Germany that excites him. Rohl has steadied the ship at Hillsborough, lifting them out of the relegation zone in his first season in charge and up to mid table at the end of last season but the club is far from being out of trouble. Staff were not paid their wages on time in both March and last month and there is a possibility that June could be the same. As a result of those March and May issues, the club has had spending restrictions imposed for the next three transfer windows, meaning they won't be able to buy or loan players in deals where there's a fee involved. They were also subjected to a transfer embargo until wages were paid in full. On top of that, an upgrade to the facilities at the club's training ground at Middlewood Road have also been delayed. The club's owner, Dejphon Chansiri, recently rejected a £40m bid for the club from Florida-based property investor John Flanagan after communication issues left Chansiri doubting that Flanagan's consortium would be the right people to look after the interests of the club. Rohl recently spoke to German media outlet Bild about the situation and his desire to return to Germany. He said: 'If it were up to me, as soon as possible, 'The Bundesliga is obviously something special because I grew up with it. For me, it's always about working at the highest level. I want to compete against the best teams, with the best coaches.'
BBC News
2 days ago
- Business
- BBC News
Chansiri ends silence but many questions left unanswered
Dejphon Chansiri has ended his silence and issued a statement. It doesn't do much to address the current financial situation at Sheffield Wednesday. It doesn't provide any assurances over future staff payments. It does include the admission that he has "been seriously engaging in looking for investment from new parties and continues to do so to quickly remedy this situation." Chansiri added he's willing to sell. That may provide some comfort for Owls fans who wish for the current chairman to depart. There's still so much more that could be addressed though. Are wages for this month and beyond going to be paid in full, on time? Is there a financial plan in place to get through however long it will take for the club to be bought? Is the asking price now at a realistic enough range to attract the kind of buyer that can get a deal done?This is far more important than the bulk of the statement's content – Chansiri's response to comments made by people associated with a consortium who have made bids for the club. To be fair, Chansiri deserves to have his say when the consortium speak to the media. Yet there's a time and a place and an order of importance here on the topics to be discussed. Not saying anything for so long, then spending a lot of the statement detailing how talks had gone with that group, has irked some fans, looking at the be told, there's been too much online noise over the last few weeks. It isn't helping anyone. Too many 'in the know' rumours (many of which aren't accurate), too many things said and then taken back shortly after, too many people speaking on behalf of others. Fans want things to be sorted behind the scenes. I don't think any of this has helped the situation and it's probably why Chansiri wanted to needs to know there is short and long-term financial security in place at Sheffield Wednesday. My understanding is the first instalment of TV money for Championship clubs is due imminently. That will provide some financial respite. Then there's a second instalment to come in the near future. That helps -- but is it enough to sustain the club to the start of the season and possibly beyond?There's also no clarity on the situation with the North Stand, with rumours galore after a recent meeting between the club and the Safety Advisory Group. Manager Danny Rohl appears set to depart, so who coaches the team? What is the make-up of the squad and how will the wages situation impact the players and their desire to stay at Hillsborough? When will work on the training ground be completed, given that isn't the case despite players returning from a summer break today?We've requested interviews with Chansiri and the offer remains open. It would be nice to get a few more answers to some important topics.
Telegraph
2 days ago
- Business
- Telegraph
Danny Rohl in talks to leave Sheffield Wednesday as crisis deepens
Danny Röhl is in talks over his Sheffield Wednesday exit in the latest blow to rock the Championship crisis club. The highly-rated German coach, 36, is not expected to take training today as players return for pre-season, although there has also been major uncertainty over whether facilities would be ready at the club's base. Wednesday owner Dejphon Chansiri would need to agree to bringing an end to the manager saga, with Röhl signing a 'long-term contract' a year ago. It is understood talks have progressed but have not been finalised. Chansiri's club have been plunged into crisis since the end of the season, with staff not paid their wages on time last month and payday fast approaching for June and fears of more delays. For failing to pay salaries on time in March and May, the club have been slapped with restrictions over spending for the next three transfer windows, preventing them from buying or loaning players in deals involving a fee. They were placed in a transfer embargo for any deal until wages were paid in full. Röhl's backroom staff are also out of contract this month, with no new deals agreed. It is thought that Röhl's assistant, Danish coach Henrik Pederson, could be in line to take the job if an agreement is made for the manager to leave. Barry Bannan, who is out of contract next week, as well as Di'Shon Bernard, Dom Iorfa, Max Lowe and Sean Fusire were pictured by the club returning for pre-season but there has been uncertainty over facilities being ready at the training ground near the Hillsborough stadium. It was revealed in May that the Middlewood Road base would undergo structural changes, which have also been reported to be delayed. Despite the turbulent era of Chansiri's ownership, Röhl had brought stability to the club, arriving two seasons ago and masterminding a survival bid when they looked destined for League One. Last season they had a chance of competing for the Championship play-offs before securing a mid-table finish with the backdrop of chaos behind the scenes. Röhl has also been linked to other jobs in England and Germany, with Middlesbrough interested in him before appointing Rob Edwards this week. He also gave an interview to German publication Bild recently outlining his dream to work in his homeland. 'If it were up to me, as soon as possible,' he said. 'The Bundesliga is obviously something special because I grew up with it. For me, it's always about working at the highest level. I want to compete against the best teams, with the best coaches.'
New York Times
3 days ago
- Business
- New York Times
Milan Mandaric rules out Sheffield Wednesday takeover bid, cites ‘several other interested parties'
Former owner Milan Mandaric will not try to lead a rescue bid for crisis-stricken Championship side Sheffield Wednesday following talks with his family and UK-based advisors, the 86-year-old Serbian-American businessman has confirmed. Last week, in an interview with BBC Radio Sheffield, Mandaric suggested that he was ready to explore the 'possibility' of a takeover, as the South Yorkshire side need a 'big rescue'. Advertisement But having flown to London from his California base on Monday, the serial club-owner has issued a statement to say he is not in a position to buy the club. Mandaric sold Wednesday to Dejphon Chansiri in 2015 and had hoped to meet the Thai businessman to discuss a way out of the club's grave financial problems this week, but Chansiri declined the invitation. In truth, Mandaric was never in a position to buy the club back from Chansiri and what he was really proposing was a temporary takeover, with the Thai's consent, to stabilise the four-time English champions so they would be more attractive to new investors. But, with Chansiri refusing to engage with the idea, it was a non-starter. 'I am of course very concerned about the current situation the club finds itself in,' said Mandaric in a written statement. 'However, on reflection I feel it would not be in the best interest of finding the long-term solution we all want for me to explore further my heartfelt desire to assist at this crucial time for the club. 'I have several projects I am currently working on outside the UK and I do not believe I could devote the time it would take to return the club to the healthy condition I left it in a decade ago when Mr. Chansiri took over ownership from me.' Mandaric, who has owned or co-owned at least 10 different clubs in six different countries during a remarkable career in football, is currently involved in a hotel project in Slovenia, where he has also been looking for a new club to invest in after recent spells in charge at Olimpija Ljubljana and Vojvodina. His statement continued by saying he was aware that there are 'several interested parties' who are trying to buy Wednesday and he did not want his involvement 'to either slow down or hinder these discussions'. As previously reported by The Athletic, there are two U.S.-based groups currently in talks with Chansiri's representatives. Of those two only the one led by Sheffield-born businessman Adam Shaw and American real estate investor John Flanagan has chosen to go public. Contrary to recent reports, Lyon majority shareholder John Textor has not entered the race and is unlikely to do so while the French club try to overturn their relegation to Ligue 2 for financial issues. In the meantime, Sheffield Wednesday have recently been given a three-window transfer embargo for breaking English Football League rules on late payment of wages. And with this month's payday looming, fears are mounting that Chansiri will fail to pay players and staff on time for a third time in four months. There is also the next tax bill to settle, a new training-ground pitch to lay, stadium repairs to complete and pre-season fixtures to organise — Wednesday's problems are piling up. Advertisement If there is any good news, it appears that Chansiri's family, which owns the world's largest tuna manufacturer Thai Union Group, has taken control of the Sheffield Wednesday sale process by appointing a highly-respected London-based lawyer to engage with bidders. Mandaric, who has also owned Portsmouth and Leicester City in the past, concluded his statement by saying he would continue to follow Sheffield Wednesday's fortunes and would be happy to help Chansiri in any way he could. He also thanked the Wednesday fans who had contacted him but said he would not be making any further public comments. There is one concrete way that the former owner could help his old club and it was alluded to in his BBC radio interview. When Mandaric sold the team to Chansiri he negotiated a bonus payment of £8million if Wednesday are promoted to the Premier League and a further £2m if they can then stay up for more than one season. Unlike most such deals, this one is open-ended and would be passed on to any new owner. This is the £10m that Mandaric told the BBC he was still owed. Chansiri has previously asked him to drop this claim on the club and Mandaric has told him he would be willing to discuss it, but Chansiri has not taken him up on that offer. Sheffield Wednesday, one of England's oldest and best-supported clubs, were founder members of the Premier League but were relegated in 2000 and have spent the last 25 years yo-yoing between the second and third tiers. (NurPhoto/NurPhoto via Getty Images)
