'He is going to destroy the club': Ex-Portsmouth and Leicester owner Milan Mandaric pledges to save troubled Sheffield Wednesday

Former Pompey owner Milan Mandaric has vowed to launch a ‘big rescue’ to save Sheffield Wednesday.

And the 86-year-old is flying into London at the end of next week in an attempt to persuade under-fire chairman Dejphon Chansiri to sell up and leave Hillsborough before it is ‘destroyed’.

The Owls have today been handed spending restrictions by the Football League after failing to pay staff wages on time.

The restrictions prevent the club from carrying out any transfers or loans which involve a fee, covering the next three transfer windows, including the existing one.

Wednesday owner Chansiri, who has registered his intent to appeal the decision, had previously apologised to players, coaches and staff following late payment of wages last month.

It was ex-Pompey and Leicester owner Mandaric who sold the Owls to Chansiri in January 2015 for £37.5m.

‘Sheffield Wednesday definitely needs a big rescue now’

And, in an interview with BBC Radio Sheffield, he revealed plans to help the troubled club.

He said: ‘I am not happy, I have a tremendous relationship with the supporters, I will never forget that relationship and their love for the club and their team and everything else. They definitely deserve a lot better than they are getting now.

‘He gave me all the commitments in the world that he had the money and desire, he had a family there. I was not very happy to leave the club, but there were circumstances. It was my time to leave, I was kind of reluctant, but relieved that he would continue to do a good job.

‘If you remember, I did the same at Leicester with Vichai Srivaddhanaprabha and he continued everything we agreed and he took the club to as high a level as he could. I had similar feelings for Chansiri when I sold him the club but we all know what happened after that.

‘It definitely needs a big rescue now, we all know that, all of us who love football and who love Sheffield Wednesday, there is no doubt about that. I am arriving in London at the end of next week. I am going to talk to some people about that, I have planned to do so.

‘I have my ex-manager Paul Aldridge and John Redgate. They all work for me and know what's going on - and I will see what the possibility is of taking over that club.

‘I will have to get involved myself, I have no problem with that, but there are two things. You have to find the right person, but, more importantly, you have to have Mr Chansiri to agree on that - and that is the difficult part right here to be honest with you.

‘For some reason, he doesn't want to sell it because he is asking a crazy price, you will not get more than £100m, he is going to be an obstacle, but I will give it a try, I will not give it up, I am going to test him when I come there.

‘I will be very straight with him, he is going to destroy the club in the end unless he does something and doesn’t let new people like me get involved in the club and try to help and get a relationship with supporters.’

Saved Portsmouth from going out of existence

Mandaric saved Pompey from going out of existence in 1999 and subsequently remained for seven eventful years, which included reaching the Premier League.

He became joint-owner with Alexander Gaydamak in January 2006, before selling his remaining stake in the Blues in September 2006 and leaving Fratton Park.

Mandaric later bought Leicester and Sheffield Wednesday, among other clubs, while in October 2024 told The News he was still on the look-out for another club to take over.

‘I don’t want to retire’

He said at the time: ‘I don’t want to retire, I will retire one day when I’m gone. I still have the passion to help - and have a headache and stress! I do enjoy that sometimes to a point.

‘Sometimes it gets hard and I say “What the hell am I doing?”. I still take projects without thinking how many I already have to finish.

‘I am now 45. I see your face - no I’m 86! But why not get back? It’s not about the age, it’s the energy and desire. I have seen 66-year-olds, younger people than me, and I have their energy and enthusiasm. I’m going to do it one more time.

‘I’m healthy, I have no problems at all. Maybe I get it from my parents, it's in the genes. You never know, one day something can happen suddenly, but right now I am okay.

‘We will see where, people have called me from Switzerland, France, Serbia, Croatia, everywhere. I am just looking.’

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