New Dejphon Chansiri financial details emerge - how Sheffield Wednesday plan to pay him | OneFootball

David Storch completed his takeover of Sheffield Wednesday earlier this month

Sheffield Wednesday are preparing for life in League One under new owners Arise Capital.

The Owls endured a disastrous campaign due to off-field issues, which included going into administration last October.

Previous owner Dejphon Chansiri oversaw significant financial issues in his final years at Hillsborough before David Storch led a takeover of the club that was completed earlier this month.

The American will be hoping to provide long-term stability and investment to the Yorkshire outfit, who will have their sights on rebuilding and returning to the Championship.

It was initially feared that the money owed to the Thai businessman not being paid as part of the takeover could lead to a 15 point deduction penalty for next season.

However, Arise Capital were able to avoid this punishment, meaning that Sheffield Wednesday will start the next campaign with a clean slate under Henrik Pedersen.

Fresh details emerge of Sheffield Wednesday’s agreement with Dejphon Chansiri

It has been reported by The Star that Sheffield Wednesday’s agreement with Chansiri involved a bonus system that relied on the club achieving on-pitch success.

The former Owls owner was owed around £15 million as a result of going into administration, as per the EFL’s insolvency rules.

They state that all unsecured creditors must be paid 25p on the pound of what they are owed, which amounted to the eight-figure sum for Chansiri.

Failure to meet this requirement would’ve led to a 15 point deduction penalty for next season, which would’ve had a very detrimental impact on the team’s ability to compete in League One.

However, Arise Capital were able to avoid punishment by making a good-faith offer to Chansiri for him to receive bonuses instead of the £15 million.

It is expected that the 57-year-old will see little or even none of the money from this bonus structure, as he failed to meet the deadline for accepting the deal by a matter of minutes.

It’s believed that the bonuses included Chansiri receiving payment if the club gained promotion, while the other unsecured creditors have received their 25 per cent payments.

This has ended any fears that the Yorkshire outfit could start life in League One on the backfoot after Pedersen’s side suffered relegation this year.

It has also been revealed that Storch has already committed his first cash injection to Sheffield Wednesday with a payment of around £12 million.

The new era begins now at Sheffield Wednesday

The 2-1 win against West Brom on the final day of the season was a momentous occasion for the club, and signalled the beginning of a new era.

And that new era is officially underway with this cash injection from Storch, with a new CEO already in place through David Bruce.

More appointments behind the scenes are expected over the summer in what is set to be a busy period at Hillsborough.

The bonus system offer made to Chansiri was a great piece of business, and the fact he missed his deadline to accept it means that it is now his own fault that he is likely to receive nothing from Sheffield Wednesday as part of this takeover, which is the amount he deserves.