Sheffield Wednesday: Club urged to share results of research and development after £878,000 taxpayer claim
Owls chairman Dejphon Chansiri could counter some of the criticism of him by demonstrating how research and development running into millions and benefited the game, a football finance expert says.
Sheffield Wednesday club claimed £878,000 in R&D tax credits over the last two years - indicating total R&D spend of £3m-6m.
Taxpayers’ cash can be claimed if a company seeks to resolve scientific or technological uncertainty with the aim of advancing knowledge or capability in its field, not just its own business.
Kieran Maguire, University of Liverpool associate professor of football finance, said that meant the benefits had to be shared.
He added: “Mr Chansiri has come in for a lot of criticism and if he could demonstrate improvements to everyone’s lives as a result of this research and development that would be fantastic.
“I think football clubs are community assets and fans expect greater transparency than if it were, say, a local manufacturer.
“The research could be improvements in diet, or sports science. Footballers are athletes and having the edge could make the difference between winning and losing.
“The issue is whether those discoveries will serve broader society. They could still be a work in progress.
“But I think there has to be a sharing of the benefits of the research and the conclusions.
“I think it would great if clubs could say, ‘this is what we are trying to do for everyone’.”
The Star asked the club and accountants Sedulo to give a breakdown of R&D spending.
Benn Longshaw, corporate finance director at Sedulo said: “We never make comments to press.”
Mr Maguire said the R&D tax credit scheme was seen as “low hanging fruit” by some advisers.
He added: “The vast majority of clubs are losing money, so a scheme like this is something that they are likely to explore.
“We have to assume they are operating in good faith, there has to be an element of trust.”