Mandaric no longer pursuing Sheff Wed return

Milan Mandaric has owned Portsmouth, Leicester City and Sheffield Wednesday

Former Sheffield Wednesday owner Milan Mandaric is no longer pursuing a return to Hillsborough.

In a statement to BBC Radio Sheffield, Mandaric said that after considering putting together a 'rescue package', he had decided it would not be in the club's best interest if he was to try to assist at this point.

However, Mandaric understands that there are several parties interested in a takeover of the Owls.

The 86-year-old Serbian-American businessman owned Wednesday between 2010 and 2015 before selling to current proprietor Dejphon Chansiri.

Under Chansiri, the Owls have been given spending restrictions over the next three transfer windows by the English Football League following failures to pay wages on time.

Mandaric had hoped to meet Chansiri during a brief visit to the UK this week, but the current Wednesday owner is not in the country.

And on reflection, Mandaric, who also owned Portsmouth and Leicester City before Wednesday, does not believe that he could devote sufficient time to "return the club to the healthy condition I left it in".

He also believes that with other parties involved, his potential interest would not be constructive.

"At such an important time, I would not want my involvement to either slow down or hinder these discussions," he said.

Mandaric stated, however, that he would be happy to offer help to Chansiri or any new owner if requested.

He added: "Nothing would give me greater pleasure than seeing our team competing again for promotion in the coming seasons."

Wednesday finished 12th in the Championship last season, 10 points outside the play-off places - they have not played in the top flight since 2000.