As the Championship season edges closer to its halfway point, Sheffield Wednesday find themselves trapped in turmoil — not on the pitch, but off it.
While most clubs are preparing to return from the October international break with renewed focus, Wednesday remain consumed by uncertainty over a potential takeover, deepening unrest among fans, and growing anger towards owner Dejphon Chansiri.
More than ten years after taking charge of a club once knocking on the door of the Premier League, Chansiri now presides over a crisis. Under his leadership, Wednesday have tumbled from top-flight hopefuls to League One strugglers and back to the Championship, only to face yet another financial and structural meltdown. The Thai businessman is said to be holding out for a £100 million asking price — a figure that many view as wildly unrealistic for a club that hasn’t played Premier League football since 2000.
Interest in takeover persists — but at a fraction of Chansiri’s valuation
Despite their precarious position, several notable names are still said to be keeping tabs on the club, including John Textor (former investor in Crystal Palace and Lyon), Mike Ashley, and local businessman David Richards. However, negotiations have stalled repeatedly, with Chansiri reportedly rejecting offers as high as £40 million earlier this year.
Amid the stalemate, Wednesday’s financial struggles have worsened. Players and staff have reportedly faced five delayed wage payments in six months, sparking fears of a points deduction or even administration. Six separate transfer and registration embargoes have also left manager Henrik Pedersen with an impossible job as he tries to steer the club clear of relegation.
Speaking to Football League World, long-time Wednesday fan pundit Patrick McKenna condemned Chansiri’s valuation, calling it “ludicrous” and warning that his refusal to sell realistically is dragging the club closer to ruin.
“A £100 million valuation is laughable,” McKenna said. “He’s been throwing around ridiculous prices and refusing to negotiate in good faith — and now it’s biting him. In the summer, he could’ve got £40 million. No one’s offering that now. The club is declining by the day.”
McKenna described Wednesday as a “zombie club,” pointing to unpaid wages, decaying facilities, and a squad with few valuable assets.
“If we’re being honest, the club’s worth maybe £10 million at best,” he added. “There’s no value left — and that’s entirely Chansiri’s fault. He’s clinging to the delusion of recovering his investment, but we were never worth £100 million at any point during his ownership.”
The club’s bleak financial picture
Wednesday’s financial outlook paints a grim picture. According to market data, Pedersen’s squad is now the least valuable in the Championship, estimated at under £20 million. Meanwhile, the club’s iconic Hillsborough Stadium remains under Chansiri’s ownership after he controversially purchased it for around £60 million in 2019 — a move many saw as a way to temporarily balance the books.
The situation has left players, staff, and supporters fearing for the club’s very existence. Although the team is expected to receive overdue wages soon, confidence in Chansiri’s leadership is at an all-time low.
For many Wednesday fans, the only real hope lies in a swift and decisive change of ownership — one that could finally end years of chaos and give this historic club a chance to rebuild from the wreckage.