Promotion-chasing Sheffield Wednesday see losses double

DEJPHON CHANSIRI'S first full year in charge of Sheffield Wednesday saw losses more than double to £9.755m, the club's accounts have revealed.
Meeting up before the game Sheffield Wednesday manager, Carlos Carvalhal, left, and owner Dejphon Chansiri. Picture: Steve Ellis.Meeting up before the game Sheffield Wednesday manager, Carlos Carvalhal, left, and owner Dejphon Chansiri. Picture: Steve Ellis.
Meeting up before the game Sheffield Wednesday manager, Carlos Carvalhal, left, and owner Dejphon Chansiri. Picture: Steve Ellis.

The Owls reached the Championship play-off final last season, but missed out on promotion to Hull City at Wembley.

Thai businessman Chansiri, who bought the club in a £37.5m deal from Milan Mandaric in February 2015, appointed Carlos Carvalhal and oversaw significant investment in the squad that helped push the club’s wage bill from £11.885m in 2014-15 to £17.129m last season.

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This contributed to a £9.755m loss, up from £4.483m in the previous financial year, despite turnover rising significantly by £7.1m to £22m on the back of the run to Wembley and increased commercial activity.

The accounts, released today, also reveal the Owls have been loaned £17.677m by sole shareholder Chansiri.

The report does, though, state that the loan has “no set repayment or interest terms”, underlining the chairman’s commitment to a club he has ploughed further money into this season in the hope of reaching the Premier League.