Latest news with #EFL
The Guardian
3 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.'
Daily Mail
10 hours ago
- Sport
- Daily Mail
Finances in freefall, banned from signing players - and a manager eyeing the exit door: Why Sheffield Wednesday are buckling up for a deepening crisis, writes MATT BARLOW
With players returning for preseason, the transfer market open and a new set of fixtures released these are normally times of fresh optimism in the world of football. Then, there's Sheffield Wednesday, a club that has used the 55 days since the end of the last Championship season to reinforce its credentials as the EFL's basket case.
Yahoo
14 hours ago
- Sport
- Yahoo
Oldham sign experienced duo Hannant and Morris
Luke Hannant was named Gateshead's player of the year after helping them to the National League play-offs last season [Getty Images] Oldham Athletic have continued to prepare for their return to the EFL by signing experienced duo Luke Hannant and Kieron Morris. Hannant, 31, who has signed a two-year deal, was named as Gateshead's Player of the Year last season as they reached the National League play-offs, which were eventually won by the Latics. Advertisement He also helped Cambridge United to League Two promotion in 2020-21 and has further experience in the fourth tier with Port Vale and Colchester United. "Luke Hannant is technically strong, covers a lot of ground and has the sort of versatility that will be really useful over the course of the season," Oldham manager Micky Mellon told the club website. Kieron Morris made 162 appearances in all competitions for Walsall, scoring 19 goals. [Getty Images] Morris, 31, has made more than 350 senior appearances in spells with Walsall and Tranmere and loan moves to Worcester City, Leamington and Wrexham. He arrives on a one year deal following the end of his contract at Prenton Park. Morris enjoyed success under Mellon as part of Tranmere's League Two play-off winning side in 2019. "He's someone I know very well, someone who understands how we want to play, and someone who brings real quality and experience," Mellon told the club website.
BBC News
14 hours ago
- Sport
- BBC News
Oldham sign experienced duo Hannant and Morris
Oldham Athletic have continued to prepare for their return to the EFL by signing experienced duo Luke Hannant and Kieron 31, who has signed a two-year deal, was named as Gateshead's Player of the Year last season as they reached the National League play-offs, which were eventually won by the also helped Cambridge United to League Two promotion in 2020-21 and has further experience in the fourth tier with Port Vale and Colchester United."Luke Hannant is technically strong, covers a lot of ground and has the sort of versatility that will be really useful over the course of the season," Oldham manager Micky Mellon told the club website, external. Morris, 31, has made more than 350 senior appearances in spells with Walsall and Tranmere and loan moves to Worcester City, Leamington and arrives on a one year deal following the end of his contract at Prenton enjoyed success under Mellon as part of Tranmere's League Two play-off winning side in 2019."He's someone I know very well, someone who understands how we want to play, and someone who brings real quality and experience," Mellon told the club website, external.
Scottish Sun
16 hours ago
- Entertainment
- Scottish Sun
Mystery surrounds abandoned Maldives resort left to rot with decaying villas, filthy pools & dust-covered massage tables
The resort's origin was revealed in a tour of the haunting island Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) AN ABANDONED luxury resort rotting away in the Maldives with derelict villas and dirty pools has become shrouded in mystery. A decaying island within the holiday hotspot - which is usually known for its picturesque sights and tropical landscapes - holds a string of villas which have been left for dead. Sign up for Scottish Sun newsletter Sign up 8 An abandoned resort in the Maldives has been shrouded in mystery Credit: You Tube/Kale Brock 8 Rotting pools and toilets lay inside the lifeless island Credit: You Tube/Kale Brock 8 Unfinished villas sit on top of the water Credit: You Tube/Kale Brock Once a promising paradise-to-be, the resort sits on one of the archipelago islands, situated southwest of Sri Lanka in the Indian Ocean. YouTube star Kale Brock revealed the mysterious area in a video posted to the social media site. The Australian said his group spotted the eerie location in the distance while on holiday with a tour guide in the Maldives - and convinced him to take them there. Extraordinary footage showed the group touring half-finished villas, as well as piles of debris and dilapidated bedrooms. Broken toilets stood aside heaps of rubbish at the swanky hotel surrounded by swathes of tropical forest. Unkempt pools overflowing with algae can also be seen alongside generators which haven't been powered in years. Brock told that the island was supposedly owned by a prominent Maldivian politician. And he said that construction on the resort reportedly started over a decade ago. The surfer and YouTuber said: "They were building for two years then for 'political reasons'. "We don't really know, ostensibly maybe they ran out of money." Abandoned EFL stadium left to rot with pitch covered in weeds just five years after hosting final match He explained: "They've literally abandoned the project… There's bathtubs in unopened but deteriorating boxes." Shocking footage also showed unopened spa equipment and massage tables - which were never used to accommodate visitors. A centrepiece pool filled with murky water and dead bits of plants is also seen on the resort. The only bit of life that can be seen is the lush palm trees which tower over the forgotten construction. In one eerie corner of the island, the group stumble across an old Mazda and Nissan — both caked in rust and clearly untouched for years. 8 A YouTuber explored inside the abandoned hotel and villas Credit: You Tube/Kale Brock 8 The old site was reportedly abandoned by a Maldivian politician Credit: You Tube/Kale Brock 8 The interiors were seen rotting away Credit: You Tube/Kale Brock They press on to a creepy generator room, lined with bizarre, old machines. Explorer Brock said the scenes reminded him of films like Ghostbusters, Jurassic Park, and Lost. Chilling footage showed the most harrowing part of the island, and its supposed crown jewels. Luxury overwater bungalows that were meant to rake in $5,000 a night sit completely empty, now just crumbling skeletons of wood and steel. Brock is also seen strolling along a half-destroyed concrete platform where a fancy boardwalk should have been if the project was finished. Peering out at the sea, Brock said: 'World-class lives one kilometre away.' 8 Shocking images show the dilapidated villas and unfinished walkways Credit: You Tube/Kale Brock
