Does anyone feel a little bit sorry for Sheffield Wednesday in their current predicament ?

There's no point in Chansiri putting them into admin when he's their main creditor. Needs to sell, although intrinsically they're pretty much worthless. They have no players of any resale value, and don't own the ground (which is a liability anyway). It would seem that their only asset is their football league membership.

 

Don't forget their fifty million supporters.

 

This is going to be entertaining. Mind you, they escaped odds on relegation when it seemed they were down with the trimmings, just before Sausage Rohl was hired.

 

It seems appropriate that Max Lowe is the latest to jump ship.

 

I had a bet on them a month ago for relegation @6/5

Happy days

 

My view is that this is an act of spite on his part.

he ploughed millions into the club and I think from his perspective he feels it is outrageous that the supporters had the temerity to criticise him.

obviously this is an act of self sabotage but presumably the offers made to him aren’t a great deal higher than the value of selling the ground (albeit I can’t recall if there’s any covenants on the ground which would stop him from doing anything with it ) and so he’s comfortable driving the club into the oblivion

either that or he has genuinely run out of cash

or there are some skeletons in the cupboard that he wants to hide that would come out in due diligence or a sale.

Perhaps a mixture of all 3.

it’s all a bit odd.

 

Wow. Can you cash out? I’ve seen a few screenshots of people lumping big chunks of cash on this (on owlstalk!) and cashing out

 

Cashing out would seem prudent if possible - bearing in mind that if they don't finish the season (or start it!) the bet is likely to be voided.

 

Exactly that

 

If it's true he was offered between £40 and £60 million last season, it's inconceivable that anyone in their right mind wouldn't just cut their losses and accept it.

I'm not sure where the stadium would have figured in these alleged deals, but if he'd played his cards right he could have surely reached an agreement to rent it back to the club and therefore achieve a steady income whilst not having to do very much (apart from a bit of welding on the roof )?

He'd still have been well out of pocket, but it would have been immensely preferable to the current shambles. How insane do you have to be to intentionally devalue your (only) multi-million pound asset to zero, just to spite a few thousand working class folk from Yorkshire?

 

I think the issue is perhaps that he is just an extraordinarily bad businessman. All the reports are that he is extremely difficult to work / negotiate with, he takes no advice and he currently is sticking out for a valuation that is not just optimistic, it is wildly inappropriate. He just can't seem to fathom that his asset is devaluing week by week and he is not acting in his own best interests by holding out for more than he will ever get.

He was recently asking for £150m. He apparently will now do £100m. But when you consider both Sheffield United and Leeds changed hands for similar amounts, with far more assets and a realistic prospect of PL football, his asking price for Wednesday is absurd.

 

Someone’s been doing some digging…

https://x.com/swfctrust/status/1951380675673858526?s=46&t=sn51QhrbXMm5-aQVAKQm2Q

 

They have no teeth though.

 

Nor the EFL, which is the worst thing.

They deem folk fit and proper by doing the grand total of naff all due diligence. Genuinely. They ensure the immediate funding is there, and that’s your lot.

 

Yep that’s what I mean mate. It’s a slightly futile letter as EFL haven’t any teeth to do anything.

 

Not sure what they actually expect the EFL to do. They can’t exactly take the club off Chansiri or force him to sell.
Best one I saw on X was the actor Tommy Craig suggesting they try to get Prince William involved! Jeez….their sense of entitlement knows no bounds. It’ll be the Pope next

 

Or Trump.

 

Seems to be a lot of their fans pointing fingers now and laying a portion of blame at the door of the EFL, I don't see how anyone 10 years ago or whatever it was when he took over can now suddenly start shifting the blame game, he passed the fit and proper test (not that, that counts for that much) it's not difficult to understand surely ? They've overspent season after season, paying big wages and the cash has simply ran out.

 

At the end of WW2 Hitler ordered Speer to ensure the destruction of all the great Nazi institutions, buildings etc.
He blamed the German people for the loss of the war, they were unworthy of him and didn't deserve to survive once defeat was inevitable.
Everybody but him was to blame.
A good example of Gotterdammerung.
Speer refused.
Chansiri must be following a similar way out.

 

They don't expect the EFL to actually answer that letter do they? Answers to most of the questions asked would break data protection laws.