The football club, who plays in the Championship - the second tier of the English leagues, announced the agreement on its website. The agreement was signed with chairman Milan Mandaric on behalf of UKFI Ltd.
“I am very excited at the prospect of taking over control from Milan. I believe this club has huge potential and I can assure all our supporters that I will be working extremely hard to bring the success that I already sense from my short time in your city our supporters so desperately crave," Dejphon said.
“My son Att, who was a mascot at the recent Blackpool game, is passionate about football and I know will be my inspiration in this project. I have made the same promise to him as I do our supporters, he will not let me forget this until we are back in the Premier League.”
According to the football club, the deal is still subject to ratification by the Football League and during that process Dejphon and his team will become involved in the operation of the club to ensure a smooth handover upon completion. The new owner has pledged to outline his vision for Sheffield Wednesday when appropriate once the formal requirements are concluded and the club asks its supporters for patience until that time.