Milan Mandaric Open to Selling Sheffield Wednesday

Sheffield Wednesday chairman Milan Mandaric has revealed he is open to selling the club as he wants to spend more time with his family and focus on his other business interests.

The 74-year-old Serbian-born businessman, who took sole charge of the Championship side in December 2010, said in a statement that talks are on-going with unnamed interested parties and that he would only do what was in the best interests of the club.

“I am aware of the speculation regarding potential new investors,” Mandaric’s statement read.

“Speculation can be unhelpful but when your club is Sheffield Wednesday, these things will happen.

“People can now see this is a huge club on a sound financial base with one owner and that will always attract attention.

“What I can tell you is that yes, there is interest and as I have always said, I will continue to meet people who can potentially help us, but there is nothing tangible at this time.

“This is a big club, a special club with special supporters who expect and deserve to be given information. But there is nothing happening at the moment apart from interest and until that changes, I ask everyone to stick together as the one Sheffield Wednesday family.

“Sheffield Wednesday is the supporters’ lives and I could never play with the emotions of so many people, it would not be fair and would not be right. I have to know that when I do sell this club, there are solid, achievable plans in place for tomorrow and not just today, with the right and proper people in charge.

“What is most important right now is that I am completely committed as your chairman – and as committed now as when I first arrived two-and-a-half years ago.

“Yes, I have pressure from my family and my business commitments, but my heart and my mind is 100% with Sheffield Wednesday. Whether I am here for another month, a year or five years, I will perform the way I always have done until the last second with honesty, dignity and complete dedication.”

Mandaric’s first ownership in English football was with Portsmouth in 1998 but he ended up selling the club in 2006 to take over Leicester. Under his ownership both clubs achieved promotion. 

He sold his controlling stake at Leicester in 2009 and bought Wednesday for £1 in December 2010 after agreeing a deal that wiped out the club’s reported debts of £30million.