Sheffield Wednesday: Owls' chairman Dejphon Chansiri admits Wednesday 'need to solve financial worries'Â  to avoid future problemsÂ

Dejphon Chansiri admits Sheffield Wednesday could face serious financial implications at the end of this season.

By The Newsroom
Wednesday, 19th December 2018, 9:03 pm
Updated Wednesday, 19th December 2018, 9:08 pm
Dejphon Chansiri.
Dejphon Chansiri.

Wednesday were placed under a transfer embargo that was lifted shortly after the start of this campaign.

The club have fallen foul of the EFL's profitability and sustainability rules, formerly known at Financial Fair Play (FFP) which govern the club's spending.

But, speaking to a packed 1867 Lounge at Hillsborough for the fans' forum, Wednesday owner Chansiri admits that the recent embargo is likely to be repeated if the club do not secure promotion to the Premier League in the immediate future.

Sign up to our daily newsletter

"If we break (FFP) a little, no problem," Chansiri said.

"But we broke a lot: eight figures high - this is the truth.

"If we don't go up soon, we will break it (spending rules) anyway.

"If we didn't spend I believe we would have (already) been relegated.

"We need to try to solve FFP..

"If I can not solve FFP then I need to think what can I do?

"I do that myself because people say it's not worth it to help us.

"It's my responsibility.

"If this season I can sell and do good, then next season we can do better.

"I've spent a lot of money but I still lose (money).

"I never think about profit - which is difficult for me.

"Every business I think about profit but this I don't.

"If we spend and don't go up - we break FFP.

"I've said this a long time, we will have problems.

"Last year we get embargo.

"This year I still try but it's not like before.

"If I can solve the problem, then it's (FFP) not going to break - but I don't know."

Chansiri also defended his spending in previous years but says that doesn't necessarily mean the club were guaranteed to push for promotion as a result of that outlay.

"I talk about FFP all the time," he added.

"There are "experts" but they don't know more than me.

"Many fans believe that 'the club lies' or whatever.

"I know every club in the Championship, or lower, if you spend money and stay in the same league then you will break FFP anyway.

"What I've done is spend money.

"I don't spend to gamble.

"The priority was to spend money to stay in the league and have potential to go up.

"If I don't spend, you have more risk to get relegated."