Breaking news: Trouble intensifies for Sheffield Wednesday as a potential administration twist develops under 57-year-old Sheffield Wednesday owner Dejphon Chansiri, and it may centre on Hillsborough Stadium.

Sheffield Wednesday faces more instability as Dejphon Chansiri considers Hillsborough ownership despite administration threat.
As if the 2025-26 season couldn’t get much worse for Sheffield Wednesday fans, it now appears that even administration may not be enough to end the club’s relationship with controversial owner Dejphon Chansiri, who may instead become their landlord.

Fans of the ailing Championship team have had nothing to celebrate this season, but many took consolation in the assumption that any sale caused by financial collapse would ultimately spell the end of Chansiri.

However, current claims imply that the Thai millionaire may still have a significant influence on the team due to his ownership of Hillsborough Stadium.

According to journalist Alan Nixon, HMRC’s anticipated winding-up suit against Sheffield Wednesday might force the club into administration, resulting in a change of ownership.

However, because Hillsborough is owned by a different corporation under Chansiri’s control, he apparently intends to keep the stadium even if the team is sold.

This means that any new owner would have to lease Hillsborough from Chansiri or look for a different venue, which Nixon described as a “nightmare” for supporters. He believes Chansiri’s goal is to reclaim part of the tens of millions he has invested in the club over the years.

Such a move might greatly complicate any rescue attempt. Potential owners would only purchase the club, not its historic home, which is still Sheffield Wednesday’s most valuable asset.

Paying rent to stay at Hillsborough might potentially jeopardise the club’s long-term growth and stability, as evidenced by analogies to Coventry City’s recent troubles before regaining possession of their stadium.

Chansiri, who purchased Sheffield Wednesday in 2015, previously faced criticism for transferring Hillsborough to another company he owned in an effort to balance the finances.

Although the purchase resulted in a minor profit for the club in 2017-18, the EFL charged the club with misconduct on Wednesday.

If Wednesday enters administration, football regulations will take a back place to legal processes. Because the stadium is held by a different entity, it is not automatically included in any transaction.

Similarly, certain obligations, such as secured loans and “football debts” due to players or other clubs, would not be subject to the administration procedure.

All of this raises serious concerns about the type of transaction that could actually occur. Many bidders may be turned off by Hillsborough’s exclusion from the agreement, while others may object to having to pay rent to the same individual who is responsible for most of the club’s current problems.

Although the stadium has fallen into ruin as a result of years of neglect, it continues to be the emotional and historical heart of Sheffield Wednesday.

Chansiri’s evident intention to preserve it even during administration fuels fans’ anxieties that, having harmed the club’s recent past and present, he may now risk its future.