Former Premier League Owner in Talks to Buy Struggling Championship Club for £70 Million

John Textor has engaged in discussions with Sheffield Wednesday’s chairman, Dejphon Chansiri, about purchasing the club, but progress remains uncertain.

Textor, who recently sold his stake in Crystal Palace for approximately £190 million in an effort to avoid relegation from the Europa League, has previously shown interest in acquiring the troubled Championship side, which faces a points deduction following repeated unpaid wages to players.

Sources indicate that negotiations are ongoing, with Chansiri reportedly expecting around £100 million for the club. However, there is speculation that he may accept a lower offer of about £70 million, considering he purchased Sheffield Wednesday for roughly £30 million in 2015.

The club’s future is precarious, threatened by a potential points deduction and its dire financial situation. Despite a recent upturn in form under new manager Henrik Pedersen, who has stabilized the team slightly, the club remains in the relegation zone and has struggled financially.

Sheffield Wednesday has a history of late wages, having paid staff only £1,000 in recent months, and owes money to other clubs and HMRC. The club’s continued financial issues have led to multiple sanctions from the English Football League (EFL), including transfer bans and embargoes.

Legal proceedings related to the club’s financial irregularities might not be resolved before Christmas due to the complexity of the case and changes in the EFL’s disciplinary process over the summer.

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John Textor has held talks with Sheffield Wednesday’s chairman Dejphon Chansiri

The club is expected to face a points deduction after failing to pay wages on time again

Chansiri is believed to be seeking around £100 million, but a sale at £70 million seems plausible