Sheffield Wednesday owner Dejphon Chansiri has had an EFL misconduct charge against him dropped, the Sky Bet Championship club have announced.
Chansiri, along with the finance director John Redgate and former chief executive Katrien Meire, were charged by the League last year for their part in the sale of the Owls’ Hillsborough stadium.
But a Wednesday statement on Friday night said: “The EFL has written to the club and informed it that the EFL has dropped all of the charges it issued against Mr Chansiri, Ms Meire and Mr Redgate on 14 November 2019.
“Each of the individuals considers this a vindication of their defence of the charges.
“In the club’s view, this decision is a recognition of the strength of the evidence that the club has filed before league arbitration panels, which demonstrated that there was no proper basis for the charges.”
Wednesday have denied all allegations put forward by the EFL after it opened an investigation into the club’s profitability and sustainability submission for 2017-18.
The Owls have been reported to have registered a £38m profit from the sale of the stadium to a company owned by Chansiri, in the wrong year in order to avoid breaching financial fair play rules.
An EFL misconduct charge against the club remains, although – in the event of a guilty verdict – neither Chansiri nor any other individual would be punished.
The Wednesday statement added: “The charges against the club will proceed to a hearing and the club will continue to vigorously defend those charges.”
Stoke City chief executive Tony Scholes has been forthright with his view on Financial Fair Play.
He said: “The league doesn’t get the income to match its appeal to match the fact that it is the third highest attended league in Europe.
“So you’ve got Leeds at the top of the league and they’re on telly all the time, but they get TV income of about £3m-a-year.
“The team one place above them, Norwich, on telly maybe 12 times this year, less than Leeds anyway, they get TV income of £100m-a-year and it just can’t be right.
“Then we’ve got a set of (FFP) rules that stifle ambition and keeps clubs from investing in the club.
“The effect of that is – and this is the negative of the league at the moment – is that 12 years ago the league was very collegiate, everyone got on with each other. Obviously there was great competition on the pitch, but off the pitch all the clubs got on.
“What I feel now in the league is that some clubs are desperate to attack other clubs and get them punished for breaking rules and get them a points deduction.
“It’s just become a more difficult environment and I think that’s because of the financial gap that exists with the Premier League.”
Derby County are also facing an EFL charge over alleged breaches of financial rules following a review of the club’s profitability and sustainability submissions.
The Rams face a possible point deduction if found guilty of recording “excess losses” over the amount permitted for the three-year period ending June 30, 2018.
Spending regulations allow Championship clubs to lose £39m over a three-year period.
Derby reported combined pre-tax losses of just over £8m for the period in question, having posted a profit of £14.6m in their latest accounts.
Those figures were boosted by the £80m sale of Pride Park Stadium to a company owned by club chairman Mel Morris – with the club subsequently leasing it back.
The charge has been referred to an independent disciplinary commission, which will hear representations from both the EFL and the Rams.
Derby have said they will vigorously contest the matter and that the EFL’s decision to charge them with a breach of spending rules is “unlawful”.
Another Championship club, Birmingham City, recently saw an EFL charge for failing to adhere to a business plan dismissed.