Sheffield Wednesday: Owls are ‘well within’ FFP rules

Joe Palmer

Joe Palmer

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He has significantly increased the Owls’ playing budget this campaign as he looks to deliver on his two-season pledge of top-flight football by 2017.

But the last thing Wednesday chairman Dejphon Chansiri wants is for the Championship club to fall foul of Financial Fair Play (FFP) regulations.

The Thai businessman and head coach Carlos Carvalhal are wary of breaching the rules, stressing they “must do things properly”.

To comply with FFP guidelines, clubs cannot incur losses of £39m over the course of three seasons.

Although Wednesday have splashed the cash on transfer fees and wages to recruit proven second-tier players in Almen Abdi and David Jones, The Star understands are well within the FFP boundaries.

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Chief operating officer Joe Palmer said: “We are trying to sustain a good level of spending over as many years as we can.

“Nobody wants to make a loss because nobody wants to go back to where the club was previously with debts.

“It is important with (FFP) to generate as much revenue as you can.”

Bournemouth were handed a £7.6m fine for breaching FFP regulations after accruing huge losses in the 2014/15 season en route to Premier League promotion.

And Bolton Wanderers, Fulham and Nottingham Forest were all placed under a transfer embargo after breaking similar rules last time around.

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“Championship clubs don’t have the TV subsidies that can easily sustain the spiralling costs of players wages and transfer fees,” admitted Palmer.

“We saw Middlesbrough invest heavily in one season and it paid off. It was high risk but it paid off and they went up last year.

“Some teams have taken more of a cautious approach. They are spending relatively high but over three years. I would put Derby and Brighton into that category.

“Money doesn’t always buy you success but the research shows that if you can spend absolute fortunes on the best players and salaries that you have better sporting results.”

Palmer, who helped ensure Shakhtar Donetsk met the UEFA FFP regulations, says it is not esstential for the Owls to get promotion this season but warned: “The longer we stay down, the risks for making losses gets higher in theory, especially if the price of players and salaries continues to go up.”

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