Where Sheffield Wednesday owner Dejphon Chansiri now stands with EFL’s Owners’ and Directors’ Test.
EFL Analysis can today exclusively reveal Sheffield Wednesday owner Dejphon Chansiri’s current standing in the EFL’s Owners’ and Directors’ Test.
Sheffield Wednesday have been placed under an embargo by the EFL after owner Dejphon Chansir failed to pay his players and staff in May. Sheffield Wednesday’s personnel have sought emergency finance as a result, but if the payment is not delivered within the next two weeks, the Owls will face additional penalties. On Monday, it was revealed that John West and the Thai Union Group (TUG) have disowned Chansiri, despite significant previous links to the club. With Wednesday in disarray, we asked our resident finance expert, Adam Williams, to uncover Chansiri’s current standing in the EFL Owners’ and Directors’ Test.
Why the EFL couldn’t expel Sheffield Wednesday owner Dejphon Chansiri
Last week, we discovered that the EFL could suspend Chansiri if he is subjected to the Owners’ and Directors’ Test again. But, according to Williams, the EFL is rather limited in what it can do under this standard, and there must be a legitimate justification to kick someone out. As Williams stated to EFL Analysis, there are frustratingly no legal grounds to disqualify Chansiri. “The EFL are pretty restricted in terms of what they can do under the Owners’ and Directors’ Test,” he observed.
“The late wage payment issue will presumably be attributed to cash flow issues at Chansiri’s end, but he will most likely argue that it is beyond his control because some of his debtors have failed to pay up. “Until we hear from the EFL until Wednesday, I believe we will have to assume they are citing mitigating circumstances. “Dai Yongge was disqualified in April because he was in court on debts in China. I know there are prominent individuals about Wednesday who are trying to piece together Chansiri’s corporate empire, but we don’t know what his current status is.
Why administration is best outcome for Sheffield Wednesday
Wednesday fans will be outraged that there are no grounds to eject the owner, despite everything he’s done to the football club. However, with the Owls facing a three-window transfer ban and the prospect of a points deduction, finance expert Rob Wilson believes administration is the ‘optimal option’ for Sheffield Wednesday. “While administration points to financial instability and could see some key assets undervalued or sold under pressure,” Wilson elaborated. “The process would actually enable SWFC to reset its financial liabilities, enable the EFL to intervene and support the sales process and secure a new level of investment or ownership that stabilises the club in the medium term.”
Ultimately, supporters need Chansiri as far away from Hillsborough as possible, and that is why a possible administration would accelerate the process.
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