Administrators at Sheffield Wednesday have indicated they may auction the two large golden elephant statuettes installed by former chairman Dejphon Chansiri outside the South Stand of Hillsborough in 2016, in a last-ditch effort to raise funds to pay staff and creditors.
According to The Times, the club and associated company Sheffield 3 Ltd owe Chansiri approximately £114 million. Under the rules of the English Football League (EFL), unsecured creditors in this scenario may only realise about 25p in the pound — meaning recovery of around £28.5 million.
The elephants were introduced by Chansiri as symbols of strength and good luck linked to Thai culture. Now, the administrators say they are keeping the statues under lock and may place them up for auction as soon as interest is confirmed.
Meanwhile, the club is reportedly working with four or five parties (from the UK and the US) interested in a takeover of the club and/or stadium. Additionally, the administrators have begun removing white seats in the North Stand that previously spelled out the former chairman’s name.
The process remains in flux, and the administrators emphasise that their priority is securing a buyer who takes both the club and the stadium together.
