Sheffield Wednesday have today announced that a Thai consortium will take full control of the club having purchased 100% of the shares owned by Milan Mandaric's group, subject to Football League ratification.
Businessman Dejphon Chansiri, whose family run Thai-based seafood company Thai Union Frozen Group, has headed the takeover deal and has made a joint statement with Mandaric on the clubs official website. Thai Union Frozen are the worlds leading producer of tuna fish and have internationally recognised brands under their umbrella.
Milan Mandaric will be stepping down once the formalities are completed but will continue to provide assistance in an advisory role.
Chansiri has stated that the aim is to guide the club into the Premier League and will reveal the details of the vision for the Owls once the deal has gone through the due process.
The Thai group have already provided backing that has enabled Wednesday to bring in the loan signings of Will Keane and Lewis Baker during the current transfer window and the intention is to make further additions to the squad before the window closes on Monday.