Thais in talks to buy UK football club

Thais in talks to buy UK football club

Thai investors are in advanced talks to buy the Sheffield Wednesday football club for about 1.5 billion baht, media reports said.

Sky Sports News reported that owner Milan Mandaric said the club was losing £6m. Talks are planned throughout this week with the deal estimated to cost £30 million. If closed, the deal would make Sheffield the second club in the Championship, after Reading, to be owned by a Thai-based group.

Sheffield plays in the Sky Bet Football League Championship, the second tier of the English leagues. It is the third-oldest club in the English league.

The club has won four League titles, three FA Cups and one League Cup in 1991, its only major trophy since 1935. It placed 16th in the 2013-14 season. The Owls were relegated in 2000.

Serbia born Mr Mandaric, 76, took over the South Yorkshire club in 2010, buying 99.7% of it for £1 after settling the club's debts. He previously had been chairman of Leicester City.

He had tried last year to sell Sheffield to Azerbaijan businessman Hafiz Mammadov, but that deal collapsed in September.

Do you like the content of this article?
COMMENT (2)