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Thai Tuna Tycoon Nets Sheffield Wednesday After Completing Buyout

League Championship side Sheffield Wednesday, one of England’s oldest clubs, which last played in the Premier League 15 years ago, has "been taken over by a Thai consortium who are the world’s largest producers of tuna products," according to Mike Collett of REUTERS. Businessman Dejphon Chansiri, whose family owns Thai Union Frozen Group, "has acquired a 100 percent stake in the Championship (second tier) club." The club confirmed the takeover on its website on Thursday with local media reports saying the buyout cost around £30M pounds ($45.4M). The deal "remains subject to ratification by the Football League but Chansiri’s involvement has already led to funds being made available to strengthen the squad" (REUTERS, 1/29). In London, Andrew Bounds wrote as with most clubs outside the lucrative Premier League, Wednesday "is lossmaking." It lost £3.7M in the '12-13 season on £15M turnover and had £11M debt. Its 40,000 capacity Hillsborough stadium "is generally only half full for Wednesday games." Dejphon said, "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" (FINANCIAL TIMES, 1/29). In Sheffield, Dom Howson wrote Chansiri "watched on from the Hillsborough directors’ box as the Owls drew 0-0 with Birmingham City on Tuesday." The group has recently met with Chair Milan Mandaric, vice Chair Paul Aldridge and head coach Stuart Gray in Sheffield "to discuss their plans to take the club forward." The deal "is subject to Football League ratification." Mandaric said, “From the first time I met Dejphon, I felt he was the right person for this fantastic club." Mandaric said he will step down as chairman once the deal has been approved by the Football League but “will retain an advisory role, wherever Dejphon needs my help, I will only be too pleased to assist” (SHEFFIELD TELEGRAPH, 1/29).

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