Simon Jordan has warned that Dejphon Chansiri might derail Sheffield Wednesday’s ongoing acquisition efforts, claiming that the club’s exiting owner may eventually become the largest impediment to securing new control by 2026.
Sheffield Wednesday are currently negotiating a takeover after Chansiri placed the club in administration in October, ending his decade-long stint at Hillsborough.
The club has huge debt and major hurdles for any new owner, including stadium upgrades that could cost more than £100 million. Despite this, potential purchasers continue to express a great interest.
On talkSPORT, former Crystal Palace chairman and analyst Simon Jordan was asked if a takeover might be completed by the New Year. He said he believed it was achievable, noting that the administration were eager to reach an agreement. However, he cautioned that Chansiri’s efforts to retrieve money owing to him could complicate matters.
Chansiri invested more than £100 million in the club throughout his tenure and is currently owing £62.5 million. Due to the “25 pence on the pound” rule in administration, he is only able to receive 25% of that, or approximately £15.6 million.
Nonetheless, he is anticipated to pursue the £15 million he is due to before any sale is allowed, which Jordan believes might prolong the entire process.
Jordan stated, “From the administrators’ perspective, they’ll want their fees settled soon. There’s no reason why a takeover couldn’t happen soon, but the battleground will be Chansiri.”
Six bids are thought to be in contention. Mike Ashley reportedly made a £20 million offer, which was less than the £30 million estimate, and his bid was rejected. American businessman John McEvoy is also an interested party, having placed five formal bids.
Takeover updates have been scant so far in December, although administrators Begbies Traynor are anticipated to work hard behind the scenes to complete the transaction.
Sheffield Wednesday’s six-point deduction has resulted in a possible plummet to League One, compounding an already tough takeover situation.
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