Confirmed: How the government feel about Sheffield Wednesday situation | OneFootball

Culture secretary Lisa Nandy has weighed in on Sheffield Wednesday’s plight under owner Dejphon Chansiri

Culture secretary Lisa Nandy has revealed that she is “extremely concerned” by Dejphon Chansiri’s ownership of Sheffield Wednesday.

Under the Thai businessman's watch, the club has entered one of the most perilous periods in its history, under a transfer ban until 2027 following the late payment of wages over the summer, with the future financial picture still unclear.

The long-awaited Independent Football Regulator (IFR) is due to be launched later this year, to combat precisely the scenario the Owls have been allowed to fall into, along with other football governance issues.

Nandy was speaking at the Culture, Media and Sport Committee this week, where she directly referenced the Yorkshire club, claiming that “change is coming”.

Government minister speaks out about Sheffield Wednesday’s plight

Referencing the ongoing situation at Wednesday to the committee, Nandy revealed the government are keeping a close eye on developments.

She said: “In Sheffield Wednesday’s case, I am really extremely concerned about the current ownership and the lack of willingness to sell the club and invest in the club, something I’ve been discussing very closely with local MPs.

“The Government’s view is very strongly that football club owners are custodians of those clubs, and they have a responsibility to hand them on in better shape to the next owner and to the next generation of fans.

“The Government is keeping a very close eye on it, and our message to those owners is that change is coming.”

Independent Football Regulator may cause Dejphon Chansiri concern

“If necessary, the football regulator can intervene in order to remove an owner who is threatening the future of the club,” Nandy also confirmed at the committee meeting.

That is just one element of the wide-ranging powers the new regulator is going to have, alongside tougher financial regulations, stronger tests to filter out rogue owners, protection for heritage features like shirt colours and stadium locations, a ban on breakaway leagues and fairer distribution of wealth.

For fans of the Owls, the regulator cannot get here quick enough, as the club plunges further and further into crisis with each passing day under Chansiri.

Fans have taken to protesting outside the Thai embassy in London in recent weeks, alongside boycotts of games and club merchandise, and demonstrations around Hillsborough Stadium.

Chansiri’s demands are blocking a resolution

The businessman has already had offers on the table to end the sorry saga at Wednesday, having rejected offers of £40m and £30m from potential new owners to relinquish control. It’s believed he’s holding out for £100m.

He paid £37.5m for the club in 2015 which, accounting for inflation, would be worth £52m, according to calculations by the BBC.

They spoke to football finance expert Kieran Maguire, who revealed that most EFL clubs are currently sold for up to two-and-a-half times their revenue, placing Wednesday’s true valuation between £40m-£50m.

Maguire, speaking to the BBC, added: "When you take into consideration the state of the stadium, and the fact the club doesn't own it, they should be towards the bottom of that scale. The £100m valuation appears to be without merit and has no logical backing."

It has understandably raised suspicions that Chansiri has no true intention of selling the club, so Nandy’s strong support and the upcoming arrival of the regulator may be the Owls’ best bet of moving out of their current turmoil.