In Shakespeare’s Hamlet, Act I, Scene 4, Marcellus (an officer) says “Something is rotten in the state of Denmark,” having just witnessed the wandering ghost of Hamlet’s father, the late king of Denmark. out walking along the castle’s battlements. In modern terms, the saying relates to the unsatisfactory nature of something, the way something isn’t quite sitting right.
For several clubs in football, that ‘something’ is Sheffield Wednesday, or rather the way the club is sold their ground, Hillsborough, to their owner Dejphon Chansiri for a figure thought to be £60 million – resulting in a profit on the transaction of £38 million according to an article on The Athletic co-authored by Matt Slater and Nancy Frostick.
Further rottenness is added to the mix with Slater and Frostick’s article mentioning the deal, the word ‘misconduct’ and saying the league suggests that “the Thai businessman (Chansiri), former chief executive Katrien Meire and finance director John Redgate misled them.”
They also mention that the vehicle set up to facilitate the transfer of the ground from Wednesday to Chansiri, Sheffield 3 Ltd was “incorporated on June 21” and that was the same day that “the accounts were filed” with the sale of Hillsborough from the club to the owner for £60 million going through a week later.
Frostick and Slater say that his £60 million is to be paid “in eight annual instalments of £7.5 million” and add that there is no indication of what rent Wednesday will pay which is said to be a key point in the stadium’s valuation.
Without the sale of Hillsborough, the Owls would have losses of £57 million between 2016 and 2018, a figure £18 million over the accepted £39 million, three-year losses. Birmingham have already suffered a points deduction last season, a nine-point penalty after going £10 million over the £39 million limits.
Since that happened, and that decision was made, the EFL have issued a decree informing clubs of a sliding scale of punishments from a three-point deduction for less than a £2 million discrepancy to 12 points for a £15 million-plus discrepancy. They also warned that a further nine-point deduction could be applied if a panel “agrees the breach involves deception or the club failed to cooperate” according to The Athletic’s article.
Wednesday have always said that they will defend themselves against this matter and it is understood that they will base their defence on the fact that the EFL knew in advance of their plans. If that’s the case, then shame on the EFL but the footballing body must be confident in their position to bring charges against Sheffield Wednesday.
Should they be found guilty, then yes the punishment book should be hurled at them and the full extent of any punishment applied. A 21-point deduction would be disastrous for them and would see them, based as it stands right now, drop to 27 points and be at the foot of the table by a margin of seven points. Even a 12-point deduction would see them drop 36 points and into the last of the relegation places with Hull City safe above them with a five-point gap.
However, should this happen then the Owls should demand that EVERY side who have sold their stadium should be punished equally for that indiscretion.
