Some serious work effort and investigation into DC’s companies by the Trust.
Basically since about 2020 the Thai businesses don’t generate enough profit to sustain running the club so he must have loans - but how much and to who is not readily available information.
Unless you're into accounting I’d stick to the summary
https://swfctrust.co.uk/wp-content/uploa...NESSES.pdf
AI Summary stolen from OT
Key Findings
Scope and Structure
Dejphon Chansiri is (or was) a director in 19 active Thai companies across diverse sectors: real estate, construction, shipping, aquaculture, agriculture, accommodation and asset management. The SWFC Supporters Trust
There is a significant degree of family involvement: many companies have co-directors or shareholders who are family members. The SWFC Supporters Trust
Several companies share the same registered address (S.M. Tower, Bangkok), suggesting a centralized administrative or operational hub. The SWFC Supporters Trust
Financial Performance & Health
Many of the companies are either making losses or have negative shareholder equity. Examples include Geminai Asset Co., Ltd., D Chansiri A Co., Ltd. which show serious financial strain. The SWFC Supporters Trust
Some larger companies (e.g. Chansiri Real Estate Co. Ltd., Thai Union Property Development Co. Ltd.) have higher asset bases but even these show limited profit margins relative to assets.
Overall, revenue and profitability across the portfolio are low when aggregated over recent years. The SWFC Supporters Trust
Ownership, Control & Transparency
Chansiri often holds majority or sole ownership; family members appear frequently as co-owners or directors. The SWFC Supporters Trust
There are signs of dormant or minimally active entities—some companies have very low revenue but relatively high registered capital. The SWFC Supporters Trust
The complexity of the corporate structure, overlapping directorships, and low operational scale relative to asset or capital commitments raise concerns about transparency. The SWFC Supporters Trust
Concerns & Implications
There appears to be a mismatch between the documented business performance (profitability, turnover) and the level of wealth, investments, or liabilities associated with Chansiri (e.g. in relation to funding Sheffield Wednesday Football Club). The SWFC Supporters Trust
Financial red flags: negative equity, loss‐making subsidiaries, dormant businesses etc. These could be relevant for regulatory, financial, or legal due diligence. The SWFC Supporters Trust
Some Specifics & Examples
Chansiri Real Estate Co., Ltd.: one of the biggest in terms of assets. It had good revenue in earlier years but more recent years show declining profitability.
Geminai & Associate Co., Ltd.: a construction‐contractor business: had decent revenues in earlier years, but large losses and negative equity in recent periods.
Very small businesses like Barrnrai Buushsakorrn Co., Ltd. have minimal revenue (tens of thousands of THB), negative equity, so appear largely non‐operational.
Conclusion
The report paints a picture of a sprawling business empire in Thailand, with many companies, many of them small or loss‐making, significant interconnections via ownership or directorship, and overall low financial returns relative to apparent scale and asset base.
There are serious questions around how much of the apparent wealth or investment capacity (for example into sports ventures) is supported by these businesses’ reported financial performance.
The structure and many of the financials suggest a need for more transparency, especially from a stakeholder or financial risk perspective.
Oh and here is the latest rumour link on financing. This guy has worked with Textor before setting up the Eagle Group MCO
https://www.beautifulgamegroup.com/laurie-pinto
