Football

Sheffield Wednesday could be sold to Thai-based buyers

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After a heroic FA Cup display that lead to an injury time loss against Premier League Champions Manchester City, news has broke that Sheffield Wednesday could become the second Championship club to be owned by a Thai-based group, along with Reading. A reported £30 million takeover has been proposed.

Wednesday chairman Milan Mandaric, 76, took over the Hillsborough club in late 2010, buying 99.7 per cent of their shareholding for £1 after agreeing to settle their outstanding debts to the Co-Op Bank and various loans from former club officials.

Deal

The Serbia born businessman has been in English football with previous spells at Portsmouth and Leicester City to his name. However he has made no secret of his desire to relinquish the reigns at the Yorkshire giants.

Mandaric was in talks to sell Wednesday last summer to Azerbaijan businessman Hafiz Mammadov ,the owner of French club RC Pens, but that deal collapsed in early September after contracts had been already been exchanged.

Mandaric revealed a weeks ago in November that the club was losing £6 million a year. This despite having one of the Championship's biggest and most loyal fan bases.

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He has continued to search for a buyer who could inject much needed finance and meet the fans desire of a return to the top flight - a division that Wednesday haven't graced since being relegated in 2000.

Speculation will continue at Hillsborough giving the wide spread knowledge that Mandaric is keen on a deal to sell the Yorkshire club.

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