Sheffield Wednesday have been saved from administration, and football financial expert Kieran Maguire feels that former owner Dejphon Chansiri may have lost out on payment.

At the end of what was without question the worst season in their club’s 159-year history, Sheffield Wednesday supporters have something to look forward to again. The club has new ownership, important infrastructure work around Hillsborough has begun, and planning are already underway for the reopening of the transfer window on June 15th.

This week saw the publishing of an important public notice. Filed on Wednesday, it instructed the club’s existing creditors to make their claims known to administrators at Begbies Traynor Group, with payments to be made from the club’s sale.

One of the sticking points during the club’s administration was the possibility of having to pay money to Dejphon Chansiri. The club’s former owner was the ultimate cause of the club finding itself in such a distressed position in the first place, but he was also by a long way their biggest creditor.

Much of the money he invested into the club came in the form of loans, and many Wednesday fans were irritated that this allowed him to recoup a portion of his investment.

“The biggest loser”: Football finance specialist provides conclusion on Chansiri’s emergence from Wednesday administration.

However, as time has passed, it has become increasingly clear that Chansiri may not profit from Sheffield Wednesday’s sale from administration, and football finance expert Kieran Maguire has concluded that the former owner may be “the biggest loser” from the club’s financial collapse.

Maguire was asked on The Wednesday Word podcast by writer Joe Crann what he thought were the “main takeaways” from the release of the administrators’ report. Maguire confirmed that there were “lots of losers” during the administration, but that, “it looks like Mr Chansiri is potentially the biggest loser.”

He did add an essential qualifier to this, saying, “We will have to wait and see, and perhaps we will never find out whether he has received anything from the club’s administration.”

Maguire praised Begbie’s Traynor for “keeping the lights on” throughout the administration process and confirmed that they have a statutory obligation to investigate former owners in the case of financially failing clubs, though he cautioned that the bar for being considered unfit to act as a company director in the UK is high.

There will be few tears at Hillsborough for Chansiri if he receives nothing from Sheffield Wednesday’s administration

If Dejphon Chansiri does end up as “the biggest loser” from Sheffield Wednesday’s administration, it won’t be because he wasn’t given the opportunity to recover something from the collapse of the club.

He was the club’s largest unsecured creditor when it went bankrupt in October 2025, but he was offered a better bargain as the proceedings neared their end. According to reports, this consisted of future bonus payments dependent on the club’s on-field success.

However, Chansiri missed that deadline, and as a result, he may expect to earn next to nothing in return. The administrators’ report stated that “the Purchaser and the Joint Administrators agreed that the Purchaser would settle certain claims of the Club’s unsecured creditors at 25 pence in the pound as a full and final settlement, in accordance with the English Football League Board Insolvency Policy.”

There will, of course, be few tears for Chansiri over this from the blue and white half of Sheffield. While the money he put into the club was in the form of loans, it was still misspend on his watch, and given the intensity of feelings towards the former owner, there may have been Wednesday fans who would have preferred a 15-point deduction rather than him receiving a single penny back from the administration process.

But, whatever the final verdict is for Chansiri, Sheffield Wednesday fans can leave him behind them. Season ticket sales have been extremely high, and a positive atmosphere has settled over the club as they prepare to return to League One next season. There has been a lot of pain for the club over the last twelve months or so, but better times could be set to return to Hillsborough next season.