Milan Mandaric Eyes Shock Sheffield Wednesday Return in Bid to Rescue Club

Former Sheffield Wednesday chairman Milan Mandaric has announced plans to launch a bid to buy back the club he once owned, warning that the Owls are at risk of being “destroyed” under current owner Dejphon Chansiri.

Mandaric, now 86, led Wednesday between 2010 and 2015 before selling the club to Chansiri. Speaking on BBC Radio Sheffield’s Football Heaven Special, the Serbian-American businessman confirmed his intention to assemble a “rescue” package for the financially-stricken Championship side.

He is set to travel to the UK next week for proposed talks with Chansiri, as he attempts to put together a viable takeover plan.

The move comes just days after the English Football League imposed spending restrictions on the club for the next three transfer windows due to persistent wage payment issues.

“It needs a big rescue now – all of us who love football and love Sheffield Wednesday have no doubt about that,” said Mandaric.

He added that he is consulting former Wednesday chief executive Paul Aldridge and current finance director John Redgate – both of whom worked under him during his previous tenure – to explore the feasibility of a takeover.

“I’m going to try to meet Mr Chansiri with my team and be very direct with him,” Mandaric said.
“He is going to destroy the club unless he lets new people like me get involved.”

Mandaric has had three previous spells as an owner in English football, with Portsmouth (1999–2006), Leicester City (2007–2010), and Sheffield Wednesday (2010–2015). Despite expressing openness to being directly involved again, he noted that Chansiri’s “crazy” valuation of the club could prove a major sticking point.

“I’m willing to be involved, that’s not the issue. But you also need a willing seller – and at the moment, Mr Chansiri is asking for a price that simply isn’t realistic.”

Mandaric also reflected on his own role in the club’s current crisis, acknowledging that he bears some responsibility for selling to Chansiri back in 2015.

“He gave every commitment – that he had money, ambition, and a family that shared his vision,” Mandaric said.
“I had a similar feeling when I sold Leicester City to Vichai [Srivad­dha­nap­rabha] and that worked out well. I truly believed Mr Chansiri would do the same. Sadly, that hasn’t been the case – and it’s the loyal fans who are suffering most.”

Wednesday’s future remains uncertain, with financial concerns mounting and fan unrest growing. Whether Mandaric’s return can offer a credible lifeline remains to be seen – but his intervention adds a dramatic new twist to the club’s ongoing turmoil.