Milan Mandaric drops Sheffield Wednesday takeover bombshell | OneFootball

Mandaric looked set to be involved in brokering a deal to take the club away from Dejphon Chansiri, but he has released an update

Former Sheffield Wednesday chairman Milan Mandaric has u-turned on his decision to get involved with the current Owls takeover process.

It has been nearly a month since current owner Dejphon Chansiri failed to pay staff and player wages on time for the month of May, and at the time of writing, many players are still yet to be paid for last month, as per the Sheffield Star.

June payments will be due in just a few days time, which could bring a whole new different potential crisis, and it has left supporters seeking an immediate takeover, with Mandaric recently getting involved.

Milan Mandaric issues statement over Sheffield Wednesday takeover saga

It was revealed last week by Milan Mandaric that he was to fly into the United Kingdom to prepare his own bid to try and rescue Sheffield Wednesday from Chansiri's hands.

The 86-year-old Serbian-American first purchashed the Owls in December 2010, and was owner of the South Yorkshire outfit for just over four years, before agreeing to sell to Chansiri in early 2015.

Despite the early years of Chansiri being full of investment and promotion pushes, recent years have taken a turn for the worse off the pitch and financially, and it has culminated with late and non-payment of wages, with Wednesday now unable to pay a transfer fee for the next three windows.

Mandaric planned to put together a package to buy Wednesday, but he's now renegged on that, given the interest in the club that already has materialised.

In a statement sent to BBC Sheffield, Mandaric confirmed that he had been in contact with Chansiri, who revealed that he would not be in England when he planned to fly over to discuss a takeover, and the fact he is working on other projects means he could not devote the time that would be needed to sort out a potential purchase.

Adding onto that, Mandaric said: "My understanding is that there are several interested parties who would like to discuss a potential purchase of the club and at such an important time I would not want my involvement to either slow down or hinder these discussions."

Milan Mandaric statement could open the door for John Textor at Sheffield Wednesday

With Mandaric now out of the picture - and whether or not he was a credible buyer this time around is questionable - it could lead John Textor to Hillsborough.

Chansiri has already been dealing with the US consortium that involves Wednesday fan Adam Shaw, with two bids said to be rejected already by the Thai businessman of values worth £48 million and £55 million, as per an interview between Shaw and The Athletic, but they seem to be getting nowhere as of now.

Textor though has ready-made funds to use following the sale of his Crystal Palace shares for £190 million to Woody Johnson, and The Star revealed his interest in buying the Owls in what would be an immediate return to English football.