'Really perilous' - Sheffield Wednesday still can't sign players despite embargo lift - expert
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Ben Palmer
Thu 28 August 2025 8:00, UK
Sheffield Wednesday may be allowed to sign new players but that does not guarantee there will actually be more incomings before the transfer deadline.
That is the verdict of football finance expert Dan Plumley, who told Football Insider exclusively that the lifted embargo was only a “stopgap” and the same issues that have plagued the Owls still remain.
Sheffield Wednesday claimed an unlikely victory over Leeds United in the second round of the Carabao Cup on 26 August.
Henrik Pedersen’s side held firm, despite conceding a late equaliser against the Premier League side, as Ethan Horvath saved all three of the Whites’ penalties.
However, Hillsborough was notably empty despite the high-profile competition that was in town, as supporters continued to protest Dejphon Chansiri‘s ownership.
The Owls had been placed under a transfer embargo in June for unpaid wages to players and staff.
Those unpaid wages led to Josh Windass’ departure to Wrexham on a free transfer, whilst Danny Rohl has also left Sheffield Wednesday.
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And whilst Plumley had told Football Insider the EFL deserved praise for lifting the embargo, the Owls are not in the clear just yet.
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This article contains exclusive comment from Dan Plumley, a football finance expert and senior lecturer at Sheffield Hallam University.
Speaking exclusively to Football Insider, Plumley explained that whilst Wednesday were allowed to buy new players, their continued wage issues mean the EFL are unlikely to approve new deals.
He explained: “It’s only a stopgap.
The issues have not gone away, and you can see this playing out now in terms of, they can now sign players on free transfers or loans, but the EFL are not allowing them to sign those players until Chansiri can satisfy that he can pay those players.
Credit: Imago
“It’s cleared a short-term problem, and the embargoes are lifted, but the club is still very much in a really perilous set of circumstances around the ownership.
“They can’t bring any players in, and the owner can’t prove that he can satisfy their next wage bill, which is coming up in the next couple of weeks.”
Crystal Palace’s former majority shareholder, John Textor, is interested in taking over Sheffield Wednesday.
An English football regulator is being fast-tracked by the Labour government, with plans to have one in place by November.
Credit: Imago
The threat of a regulator who could come in and forcibly take control of Wednesday in order to fix the current mess could spur Chansiri into fast-tracking a sale to the American businessman.
If the Thai businessman does not sell by November, the regulator may oust him, paving a path for Textor to return to English football after selling his stake in Palace this summer.