Why Sheffield Wednesday saw their EFL points deduction halved

In November 2019, the Owls were charged with breaking the Championship’s rules after selling Hillsborough to club owner Dejphon Chansiri, who leased it back them, for £60m.

This was a legitimate way around the league’s “profit and sustainability” rules allowing clubs to lose no more than £39m over a three-year period.

The deal prevented that, but only because it was filed in the 2017-18 accounting period, despite not being completed until after it, in mid-August. The “heads of terms” were backdated to look as if a minimum price of £37.5m, later adjusted to £42m, had been agreed a month earlier, on July 15. These were signed and dated by Chansiri and then-chief executive Katrien Meire, and witnessed by then-finance director John Redmond.

All three were charged with misconduct, but the charges were later dropped.

Without the sale, Wednesday would have been £18.2m over their permitted losses.

July’s punishment was reduced this month because the appeal panel disagreed the sale eventually taking place was “irrelevant”.

“If the sale had been made before 31 July 2018, there would have been no breach” they stressed, and that should have been “relevant to the seriousness of the breach”. They took into account how close it was to being within the accounting period.

The 12-point deduction was deemed “excessively severe” and reduced to six.

Meanwhile, former Hull City goalkeeper Boaz Myhill has reportedly turned down the chance to become the Owls’ new goalkeeping coach. The 38-year-old works for West Bromwich Albion’s academy.

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