Dejphon Chansiri may no longer be the owner of Sheffield Wednesday, but whomever takes over the club will still owe money to the controversial previous owner.

After months of financial difficulties, Chansiri’s stormy decade-long tenure at Wednesday ended last month when he placed the club and the company through which he owned the stadium under administration.

The Owls were punished with a 12-point deduction after going into administration, which almost guarantees they will be demoted to the League. One this season, but Chansiri’s departure has been met with excitement at Hillsborough, with fans returning in large numbers after boycotting previous games in protest.

There appears to be no shortage of interest in purchasing Wednesday, with former Crystal Palace co-owner John Textor, ex-Newcastle United chief Mike Ashley, and US billionaire John McEvoy among those linked with the club, and up to 11 parties have already provided the administrators with proof of funds totaling £50 million.

A soft deadline for bid submissions has been set for this Friday, followed by a two-week negotiating phase before a preferred bidder is picked by Friday, December 5th, with the expectation that a takeover agreement can be finalized by the end of the year.

However, while a new era is about to begin for the Owls, they have not completely cut ties with Chansiri just yet, and dealing with the Thai businessman could be one of the most difficult challenges for any incoming owner, with The Star revealing that he is expected to claim some of his money back once the takeover is complete.

Dejphon Chansiri is prepared to take fresh Sheffield Wednesday action after the takeover conclusion.

With Wednesday in administration and questions about whether Chansiri will try to recoup any of his money, it has been difficult to estimate how much a takeover deal for the South Yorkshire outfit would cost, but journalist Alan Nixon has reported that the total expenditure could be up to £50 million.

According to football financial specialist Kieran Maguire, Chansiri may save his reputation at Hillsborough by not filing a claim, similar to Mel Morris’ actions during Derby County’s administration four years ago.Maguire told BBC Radio Sheffield last month that he might use the same strategy as Derby County and Mel Morris to become less of a villain, rather than a hero.Mel Morris was owed £200 million by Derby County Football Club, but he told the administrators, ‘I’m not putting in a claim.'”

However, it appears that Chansiri is planning to take a different approach than Morris, with The Star reporting that, while he has yet to formally raise the debt, he is expected to do so before the club is officially sold, but he will have to accept a significant loss on the money he invested during his tenure as owner.

Chansiri was thought to be owed £62.5 million by Wednesday when they went bankrupt, but he will only receive roughly £15.6 million due to EFL regulations that require creditors to be paid an immediate 25p on the pound or a 35p on the pound spread over three years.

It is possible that the EFL will try to ease the Owls’ 25p on the pound obligation due to the size of the debt owed to Chansiri, but this is thought to be unlikely as things stand, meaning that any new owner will have to settle the debt with the 57-year-old after taking over at Hillsborough.

Sheffield Wednesday supporters facing anxious wait as Dejphon Chansiri debt looms

Despite the fact that relegation was nearly assured when the club went into administration, Chansiri’s departure has restored the feel-good factor to Wednesday, although there are still some anxieties in the air as the wait for a takeover continues.

It is obvious that whoever takes over the Owls would need vast pockets, and because Chansiri is the club’s largest creditor, collecting the debt owing to him will be one of the first, and potentially most expensive, tasks for any new owner.

Even if Chansiri does not receive all of the money he is owed, his claim is still worth a significant amount, and with Wednesday’s administrators requesting £50 million in proof of funds, they will be determined to ensure that the club’s new owner has sufficient resources to resolve the debt, especially since failure to do so could result in additional points penalties next season.