Former owner Mandaric plans Sheff Wed ‘rescue’ bid

Former owner Milan Mandaric says he will try to restore troubled Sheffield Wednesday in an effort to stop current chairman Dejphon Chansiri from “destroying” the club.

Prior to selling the Owls to Chansiri, Mandaric, an 86-year-old Serbian-American, held the club between November 2010 and January 2015. He stated in a BBC Radio Sheffield Football Heaven Special that he intends to create a “rescue” package.

Next week, Mandaric will fly into the UK to meet with Chansiri to discuss potential takeover options for the financially troubled Championship outfit.

Due to late payment penalties, the EFL informed the club on Wednesday that it would have to spend money over the next three transfer windows.

Everyone who loves football and loves Sheffield [Wednesday] has no doubt about that, according to Mandaric, who said “it needs a big rescue now.”

The former owner of the Oaklands said he would talk with former Wednesday CEO Paul Aldridge and former finance director John Redgate about the “possibility” of a takeover. Both men worked for the club under Mandaric.

“I’m going to try my hardest to see him [Chansiri] with my people and be very direct when I tell him that he’s going to destroy the club unless he lets newcomers like me get involved,” Mandaric said.

Mandaric was clear that Chansiri’s high valuation of the cash-strapped club will continue to be a likely obstacle to a deal despite not saying whether he wanted full control of the club once more or whether he intended to form a larger ownership group.

“I would have to get involved myself, and I have no objections to that,” Mandaric continued. “You have to find the right person and have Mr. Chansiri agree,” he continued.

The difficult part is. Because he is asking a crazy sum, he won’t be able to sell it.

24 hours before the club was subject to EFL sanctions for unpaid debts and wages, Mandaric admitted to feeling some responsibility for Wednesday’s current plight.

However, he claimed that after selling the Foxes to Vichai Srivaddhanaprabha in 2010, he had a similar experience.

He [Chansiri] made the same commitment to his family and the world that he had money and that he had desire, Mandaric said.

I lulled him into thinking he would continue to do a good job. Leicester City and Vichai were two examples of how I handled them. When I sold him the club, I felt the same way about him and he raised the bar as high as he could.