John Textor has held talks with Sheffield Wednesday chairman Dejphon Chansiri – but a sale of the beleaguered club to the US businessman has not progressed, Daily Mail Sport understands.
Textor recently sold his stake in Crystal Palace to fellow American Woody Johnson for around £190m in an ultimately fruitless attempt to prevent the Eagles’ demotion from the Europa League to the Europa Conference.
He has previously expressed an interest in the turmoiled Championship strugglers, who are set to be hit with a points deduction after failing to pay its players on time yet again.
Sources close to the situation say discussions have now taken place with a view to Textor adding the Owls to his stable of clubs – each of which was acquired amidst financial turmoil – but have disclosed that an agreement currently appears a long way off.
It is thought that Chansiri is seeking around £100m for Wednesday, although there is a view that he may accept £70m for a club he bought for around £30m in 2015.
Despite the clear potential involved, £70m may well price interested parties out of the market. Whoever takes Wednesday over will inherit a stadium in dire need of expenditure and a threadbare playing squad decimated by summer exits.
Textor’s Eagle Football Holdings has previous in taking on clubs in financial difficulty, such as Botafogo and Lyon, and does have a large number of footballers within the group.
The historic South Yorkshire outfit’s status in the second-tier would also appear to be under serious threat. Thanks to the efforts of new manager Henrik Pederson and his young squad, they are only a point from climbing out of the relegation zone. However, a points deduction would appear to be a formality following Chansiri’s latest inability to meet the payroll.
Wednesday have now been late with wages five times in the last seven months. Under EFL rules each breach could technically trigger a three-point penalty – but such a hefty punishment is thought to be unlikely given precedents.
In 2023, Wigan Athletic were deducted eight points for failing to pay wages on time, with four of those the enforcement of a suspended penalty, while Reading were stripped of three points in the same year.
Daily Mail Sport understands that officials will seek to apply the rules but will no doubt be wary of Wednesday’s desperate situation as a buyer is sought.
Players have not been paid at Hillsborough while staff have been handed just £1,000 each for their month’s work.
Wednesday have been the subject of several EFL sanctions which include a long-term transfer ban and a series of embargoes. Debts are owed to other clubs and HMRC.
Such is the complex nature of the matter that, coupled with issues remaining ongoing, the case against the club may not be heard before Christmas.
The matter is slightly complicated by a switch in the EFL’s disciplinary process by the EFL over the summer. Some of Wednesday’s charges came under the previous regime, where the EFL directly issued a charge, while the more recent alleged breaches fall under the jurisdiction of the Club Financial Reporting Unit.
