Sheffield Wednesday announces takeover

A THAI consortium led by businessman Dejphon Chansiri has taken over Sheffield Wednesday.

Mr Chansiri, whose family control the Thai Union Frozen Group, the world’s largest producer of tuna as well as one of the biggest worldwide general seafood producers, has acquired a 100% stake in the Championship club.

In a statement on the Club’s website, Mr Chansiri said: “I am very excited at the prospect of taking over control from Milan. I believe this club has huge potential and I can assure all our supporters that I will be working extremely hard to bring the success that I already sense from my short time in your city our supporters so desperately crave.

“My son Att, who was a mascot at the recent Blackpool game, is passionate about football and I know will be my inspiration in this project. I have made the same promise to him as I do our supporters, he will not let me forget this until we are back in the Premier League.”

Chairman Milan Mandaric had been in charge of the club since December 2010. He confirmed earlier this month the club were in talks with potential investors.

Mr Chansiri added: “Milan has been a wonderful owner of the club, taking over at a very difficult time and guiding it out of League One and handing it over with much still to play for this season in the Championship. I am pleased he has agreed to remain a supporter of the club, I am sure with his football knowledge and business expertise he will be of invaluable help to me.”

Sheffield Wednesday has revealed that during the period of negotiations that have taken place between the two parties recently, Mr Chansiri has made funds available to assist the club in bringing in two recent loan signings from Chelsea and Manchester United.

The deal is still subject to ratification by the Football League.

Mr Mandaric said: “From the first time I met Dejphon I felt he was the right person for this fantastic club, his business expertise and passion made him stand out from the other interested parties that I have spoken to since I announced that Mr Mammadov could no longer fulfil his obligation to purchase the club.

“Once the final details and Football League approval have been concluded I will step down as Chairman and as a director but will retain an advisory role, wherever Dejphon needs my help, I will only be too pleased to assist. In my four years in Sheffield I have come to regard this city as my home and desperately want to be a part of the journey we all started together when I arrived which I am sure will ultimately see our club back in the Premier League very soon.”

Mr Chansiri has pledged to outline his vision for Sheffield Wednesday when appropriate once the formal requirements are concluded and the club asks its supporters for patience until that time.

Squire Patton Boggs has advised Sheffield Wednesday Football Club and its owner Milan Mandaric. Squire Patton Boggs’ team was led by corporate partner David Hull in London, assisted by senior associate Mark Yeo.  Mr Hull advised long-standing client Milan Mandaric on the purchase of Sheffield Wednesday in December 2010 and, prior to that, on the sale of Leicester City Football Club in August 2010. 

DLA Piper partners Jon Kenworthy and Rob McKie acted as English legal counsel, whilst Linklaters Bangkok partner Pichitpon Eammongkolchai acted as Thai legal counsel to Mr Dejphon Chansiri.

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