What John Textor will do first at Sheffield Wednesday if he replaces Dejphon Chansiri | OneFootball

John Textor is making progress in his attempt to purchase Sheffield Wednesday

John Textor is planning to immediately invest in the first team squad at Sheffield Wednesday if he can complete a takeover of the club.

According to the Guardian, the US businessman is set for talks with Dejphon Chansiri over a possible purchase of the Championship side.

The Owls’ owner is under intense pressure from supporters to cash in his stake in the Yorkshire outfit due to his mismanagement of their finances.

Several players have left Sheffield Wednesday this summer as free agents after being able to terminate their contracts because of late payment of wages, along with Danny Rohl departing as head coach.

John Textor’s Sheffield Wednesday investment plans

It is understood that Textor has made contact with Chansiri’s representatives over potential takeover talks.

It’s believed that the American will travel to the United Kingdom in a bid to discuss purchasing Sheffield Wednesday, although it remains to be seen whether he is willing to meet the £100 million asking price.

Textor is reportedly planning to invest in the first team squad as his immediate plans for the club, should a takeover go through.

The former Crystal Palace investor, who owned roughly 44 percent of the London outfit until earlier this summer, is working with Swiss bank UBS on an initial public offering as he looks to grow his football investment firm.

Other investors have made offers to purchase the club this summer, but Chansiri rejected a £40 million bid, much to the frustration of supporters.

Sheffield Wednesday have been unable to afford to strengthen their squad in the transfer market, leaving Henrik Pedersen with a small team to contend with in the Championship.

The Owls have added Ethan Horvath this summer, but have made no other signings, with the side currently 21st in the table, with one point from their opening three fixtures.

Sheffield Wednesday squad needs heavy investment

This takeover won’t be completed in time to get any work done on improving the squad this summer, which will be a blow for Pedersen’s side.

However, any investment into the team between now and the end of January could prove crucial to avoiding relegation to League One, which is currently a serious concern.

Textor’s track record in football is quite mixed, particularly due to the mess he created at Lyon, but anything would be an improvement on Chansiri’s running of the Championship team at this stage.

Supporters will be glad that there is now some light at the end of the tunnel, and they will be hoping any takeover can be wrapped up quickly, so some work on the squad can be done, with free agents still an option after the window shuts on Monday.