New Sheffield Wednesday takeover detail comes to light - Dejphon Chansiri set for big financial hit | OneFootball

The collapse of James Bord's bid for the troubled Championship club could also end up costing the club's soon-to-be former owner a lot of money too.

The collapse of James Bord's bid to buy troubled Championship club Sheffield Wednesday also seems likely to hit the pocket of former owner Dejphon Chansiri.

Following swiftly on from confirmation of the club's relegation from the Championship at the end of this season, the collapse of the James Bord takeover was another blow for Owls fans hoping for some degree of normality to return to their club after a lengthy absence.

Bord's consortium pulled out of their position as preferred bidder for the club last week, claiming that, "The figure we offered is significantly higher than that justified by the findings of a lengthy due diligence process".

The club had been put into administration on the 24th October following months of financial problems, which included the late payment of wages to staff.

The consortium were revealed to be the preferred bidders for the club on Christmas Eve, but the collapse of the deal marked another plot twist in a story which has come to dominate the Championship this season.

Labouring under weighty points deductions and severe restrictions on new players being able to come into the club, Wednesday's mathematical relegation was confirmed on the 22nd February with a 2-1 defeat at Sheffield United in the Steel City Derby. It's understood to be the earliest relegation in the 138-year history of the EFL.

Dejphon Chansiri could be left millions out of pocket by the collapse of James Bord's offer for Sheffield Wednesday

Journalist Alan Nixon has reported on his Patreon on Sunday morning that the club's soon-to-be former owner Dejphon Chansiri is now set to lose out himself as a result of the collapse of the Bord bid.

He has reported that the Thai businessman was set to land £15 million from Sheffield Wednesday's sale if the James Bord group had followed through with their offer, but that he is now likely to miss out on this because the new bids that will come in for the club will be highly unlikely to be anywhere near that which was made by the professional gambler's consortium.

EFL rules state that clubs who do not receive an offer paying creditors the '25p in the £1' - and in this instance Chansiri is the main creditor for the Owls - will be subject to a 15-point deduction at the start of the season following their exit from administration.

But in the case of Bord's bid, it is clear that his consortium was the only one that was prepared to reach their threshold. The complication for Chansiri won't just be a matter of missing out on the repayment of money that he put into the club.

Nixon has further claimed that due to the fact new bidders won't meet that threshold to give Chansiri a big payout, the disgraced ex-Owls owner is set for a new issue, with some of the money he does land from Wednesday's sale "needed for a loan he has secured against his purchase" of Hillsborough.

That means he will have to delve into his personal finances to settle the bill, rather than rely on the money he thought he was going to get from Bord and co in the near future.

Potential Chansiri losses demonstrate that there's no such thing as a risk-free investment in a football club

This potential outcome for Dejphon Chansiri demonstrates that, even if the money that an owner puts into a football club is done so in the form of loans, it's still plenty possible for them to end up seriously out of pocket.

The secured nature of the loan that was taken out in order to take Hillsborough out of the club's hands in order to bypass a potential breach of PSR means that it has to be repaid, regardless of the club's insolvent status. This leaves Chansiri on the hook for millions of pounds.

This state of affairs explains why Chansiri wanted £100 million for the club when he put it up for sale last summer. The problem with this valuation, however, was always that it far outstripped the value of the club in the condition that it was in by that time.

As has been seen with the size of the bids since the club entered into administration, there is nobody who believes that Sheffield Wednesday either were or are worth anything near that valuation.

The failure of Bord's bid is likely to hit Sheffield Wednesday hard. A 15-point deduction for next season in League One would have serious ramifications for them; it could even lead to them getting relegated again, next time around.

It's an extremely thin one, but Wednesdayites might consider it the thinnest of silver linings to this entire saga, should Chansiri also end up missing out on millions of pounds as a result of this latest twist. They will certainly consider that he only has himself to blame for ending up in this particular position.