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Sheffield Wednesday: Don’t panic message despite Mammadov’s French financial issues

Milan Mandaric

Milan Mandaric

  • by Liam Hoden
 

Sheffield Wednesday are unfazed by the financial issues affecting another club under the umbrella of owner-in-waiting Hafiz Mammadov, the Star understands.

French club RC Lens yesterday had their promotion to Ligue Un suspended due to discrepancies in their budget for next season.

The issue surrounds a ten million euro fund due from Mammadov which has not been transferred into the club’s accounts from Azerbaijan.

Lens president Gervais Martel insists the issue is due to a public holiday in Azerbaijan and will be rectified in time for an appeal which could be heard next week.

As for Wednesday, the message is reportedly business as usual in regards to Mammadov’s pending takeover of the club.

It is understood all the documentation for the 49-year-old’s buyout of the Owls has been signed.

Mammadov’s bid is currently going through the Football League’s ratification process but is remains unclear as to when the final decision will be made.

Before the Lens issue arose, Owls chairman Milan Mandaric told the Star: “We are working with the Football League and Hafiz Mammadov to get approval.”

It is understood that stance has not altered after yesterday’s events which have left Lens in limbo.

Lens have been informed by the National Directorate of Management Control (DNCG)- French football’s financial regulatory body - that they will not be permitted to enter the top flight due to ‘insufficient financial guarantees.’

The missing ten million euros (around £7.99million) from Lens’ accounts has caused the DNCG to place the club’s promotion on hold.

Lens president Martel says he has no worries about the hold up and insists the cash will arrive shortly.

He said: “What I can say is that it is unfortunate that this decision is made in a matter of a day, on a payment date.

“But one simple reason: June 26, it was the feast of the Armed Azerbaijan.

“It was a holiday and sending the funds was tabled on the 25th was not effective on the 26th for this reason, and it has not arrived. DNCG applied it’s regulations.

“I have absolutely no worries. I have full guarantees on the amount with the Azerbaijan National Bank.

“We will appeal to the DNCG and we will provide all documents at the appropriate time.

“This is unfortunate but it is not very serious.”

The club’s appeal is expected to be heard on July 3 or July 9.

 

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