Sheffield Wednesday could face second transfer embargo

Sheffield Wednesday could face second transfer embargo

Sheffield Wednesday could be placed under a second transfer embargo if they do not solve their Financial Fair Play problems, that is according to chairman Dejphon Chansiri.

The Owls have already been under embargo between April and August last year after breaching the English Football League’s Profitability and Sustainability rules. It was lifted with immediate effect after the summer transfer window had closed, but they were still able to sign players on loan and brought in Josh Onomah from Tottenham Hotspur and Michael Hector from Chelsea.

However, their owner has now admitted that if he isn’t able to solve their financial issues by March of this year then a second embargo will come into play. He told the clubs official website: “To make our situation 100% clear, we are not under any kind of embargo right now. However, if our problems cannot be solved by March when we submit our accounts to the EFL, another soft embargo is inevitable. This will become a full embargo if again the problems cannot be solved at the end of the financial year.

“The solution we worked so hard to achieve this year will not matter next year, when the same problems will arise if we do not get promoted,” he continued, insinuating that only promotion to the Premier League will ease their financial troubles.

He doesn’t believe that Wednesday are the only club that will fall foul of the spending rules either, saying that other clubs will “find themselves in a similar situation” in the coming years.

Dejphon Chansiri has been the owner of Sheffield Wednesday since January 2015

The EFL’s spending rules state that clubs are not allowed to post losses in excess of £39 million over three years without being punished. Wednesday’s last financial figures showed that they had lost more than £20 million in the 2016/17 season, which was an increase of £15 million on the previous year.

Whilst not impossible, it seems unlikely that the Owls will be promoted this season with them currently sitting in in 16th place and 11 points adrift of the play-offs. With that in mind, it seems like the only way that the South Yorkshire club can solve their problems is by selling some of their star players to balance the books.

Adam Reach, Fernando Forestieri and Barry Bannan are amongst their most valuable assets and could command decent transfer fees. Indeed Reach has already been subject to interest from elsewhere according to reports with Aston Villa keen on securing his services. He is currently 12/1 to join the Villains this month with BetVictor.

There are also players within the squad who are on big wages but do not play too often such as Almen Abdi who could be offloaded, but it may be more difficult to find clubs willing to take them on given they have barely played.

One thing is for sure, incoming manager Steve Bruce will certainly have a job when he arrives at Hillsborough next month.