Mandaric took over at Hillsborough in December

Sheffield Wednesday chairman Milan Mandaric says he will face a bill of millions of pounds if the Owls are not promoted from League One this season.

Wednesday lie 16th in the third tier, 18 points off the play-off places and only seven above the relegation zone.

Mandaric told BBC Radio Sheffield: "Going into next season and still being in League One will probably cost me £6m or £7m.

"I have to pick up and clear the cost of this season."

The former Portsmouth and Leicester chairman added: "It's probably £3m to £4m in support [gate receipts] and another £3m in things we will not get from television or anything else."

Serbian-born businessman Mandaric took over at Hillsborough in December, purchasing the club for £1 and negotiating terms to wipe out their £30m debts.

In February, he replaced manager Alan Irvine with Gary Megson, but the move has had no significant effect on Wednesday's results.

The Owls have won just twice in their last 11 games and have not tasted victory in the league at Hillsborough since December.

"I think there's are a lot of negativity happening for a long," said Mandaric. "Not three months, not 10 months - it's probably the last 15 years.

"But the supporters here are above anything else I've seen. They'll come back and support the team."

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