Sheffield Wednesday have published their 2019 accounts – and they could well point to the staggering fee we ended up paying for Steve Bruce and his backroom team.
As revealed by football finance expert Kieran Maguire, their accounts feature a ‘confidential settlement payment’ of £6.5m.
This comes after the Owls confirmed in a club statement in July 2019 that they were considering taking legal action against Newcastle United following our appointment of Steve Bruce – insisting we had not paid the compensation package in full to secure the services
Sheffield Wednesday owner Dejphon Chansiri insisted that there were ‘outstanding issues’ that ‘needed to be resolved’ following his arrival over 18 months ago, so it seems pretty clear that this ‘confidential settlement payment’ is Mike Ashley’s way of avoiding a hefty fine!
With talk of any resolution between ourselves an the Owls no longer seen as an outstanding issue, it seems highly likely that this £6.5m payment made to avoid legal action!
Here’s a reminder of the statement Sheffield Wednesday released back in July 2019 after Bruce packed his bags and signed at St James’ Park:
‘The Club is disappointed to learn via public statement issued by Newcastle United that it has appointed former Sheffield Wednesday staff Steve Bruce, Steve Agnew and Stephen Clemence.
‘Regardless of the fact that the staff resigned from their positions with the Club on Monday, there remains outstanding legal issues to be resolved between the club and the staff and Newcastle United. The Club is currently considering its position and taking the appropriate legal advice.
‘No further comment will be made by the Club concerning this matter.‘
So, the summer before last we not only paid £40m for Joelinton, but also ended up shelling out a quite staggering £6.5m on a Championship manager?
To think Mike Ashley would happily sanction this, yet won’t pay a £4m compensation package to sack him when we’re hurtling towards a third relegation under his tenure.