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Bright days ahead for Sheffield Wednesday as Thai owner sets sights on Premier League glory

Xinhua, February 29, 2016 Adjust font size:

Hopes of English Championship league club Sheffield Wednesday regaining its place in the top flight of football were given a boost Monday.

The financial fortunes of the club have increased following its takeover last year by Thai fishing tycoon Dejphon Chansiri.

Chansiri, whose family controls one of the world's biggest seafood producers, bought Sheffield Wednesday from former owner Milan Mandaric in February 2015 in a deal worth almost 42 million U.S. dollars, and is targeting promotion to the English Premier League within the next two years.

Sheffield Wednesday was formed in 1867 making it one of the world's oldest football clubs. In 1992 it was a founder member of the Premier League, only to be relegated to the second tier in 2000.

If Chansari's ambitions are realised it would mean the club, known as The Owls, celebrating its 150 anniversary by returning to top flight football in the world famous Premier League.

In accounts published today, covering the year to May 31, 2015, turnover at Sheffield Wednesday rose by 1.5 million U.S. dollars to more than 20 million U.S. dollars due to a 3 percent increase in the average league attendance to 21,997, as well an increase in commercial activities.

Their home, Hillsborough Stadium, scene of one of football's worst ever tragedies when 96 Liverpool fans died in a cup semi-final clash, has a capacity of just under 40,000 improving fortunes under Chansari's ownership have seen the club becoming debt free and reducing its losses during the period to just over 6.6 million U.S. dollars.

The club, which finished 13th in the Football League Championship in 2014/15 and currently lie in sixth position in the division, which would guarantee them a place in the play-offs for promotion. Endit