Sheffield Wednesday ownership saga latest as ex-Leicester City and Portsmouth owner issues major update
Former Sheffield Wednesday owner Milan Mandaric has announced he will not be involved in efforts to wrestle ownership of the Owls from Dejphon Chansiri.
Wednesday are embroiled in financial issues and have been hit with an EFL embargo and a three-window transfer restriction after struggles to pay players and staff.
Mandaric, who sold Wednesday to Chansiri in 2015, had signalled his intent to be involved in an attempt to regain control of the club.
However, the former Portsmouth and Leicester City owner has now backed away from plans to return to South Yorkshire.
Milan Mandaric statement
In a statement issued to BBC Radio Sheffield, Mandaric said: “Further to my radio interview last week I have now had the opportunity to speak with both my advisors and close family in respect of how I might be able to assist Sheffield Wednesday at this difficult time.
“I had hoped to meet Mr Chansiri in London during my short trip, however unfortunately after contacting him he confirmed he would not be in the UK at the time of my visit.
“Whilst like all Sheffield Wednesday supporters I am of course very concerned about the current situation the club finds itself in.
“However, on reflection I feel it would not be in the best interest of finding the long-term solution we all want for me to explore further my heartfelt desire to assist at this crucial time for the club.
“I have several projects I am currently working on outside the UK and I do not believe I could devote the time it would take to return the club to the healthy condition I left it in a decade ago when Mr Chansiri took over ownership from me.”
.jpeg?crop=3:2,smart&trim=&width=640&quality=65)
Sheffield Wednesday in limbo
As it stands, Wednesday do not have any senior pre-season friendlies in the calendar and there is uncertainty over the future of Danny Rohl.
The German has clearly outlined his desire to leave Hillsborough, although remains under contract as manager of the crisis-stricken club.
Wednesday have also been reported to be of interest to US billionaire John Textor by The Star.