Sheffield Wednesday are now on the verge of administration, with a new report confirming court filings have been submitted by the South Yorkshire side.
The Owls have been under the spotlight for much of the past year as their situation has worsened, with owner Dejphon Chansiri making no progress on the sale he has previously promised. A report from the Sheffield Star earlier this week has suggested that multiple buyers have walked away from the process due to its convoluted nature.
Protests from the fanbase have been spurred on throughout the season, with a brief interruption due to a pitch invasion against Coventry City, and Hillsborough was barren during their last game, a defeat to Middlesbrough.
Administration Confirmed, Points Penalty Imminent
Multiple reports published today has stated that a decision to put Sheffield Wednesday into administration has arrived, with Reuters revealling that a court filing has been placed by the club today. Journalist Ben Jacobs has since revealed that the club are now ‘set to be placed in administration’, which would come with a 12-point penalty due to owing His Majesty’s Revenue and Customs £1 million in unpaid taxes.
The points penalty will immediately plunge the Hillsborough side into the negatives in the Championship table, giving them a 13-point gap to 23rd-placed Blackburn Rovers when made official. It marks the second time under Chansiri’s tenure that Wednesday will have been handed a deduction, previously breaking the Championship’s Profitability and Sustainability Rules in 2020.
The Daily Mail’s chief football correspondent Mike Keegan has also revealed that a staff meeting is currently underway, with insolvency practitioners Begbies Traynor set to be appointed as the administrators. Staff were only informed of the gathering by word of mouth, and are set to meet the new administrators shortly.
Where Does This Leave The Owls?
In short, this is a major development and puts one of the oldest institutions in world football at major risk of collapse. Of course, the buck stops at Dejphon Chansiri’s feet, with his ambitious £100 million valuation very unlikely to be met and it is he alone keeping the club in the situation it is now in. Buyers have come and gone in the past few months, and hopefully, with the club now in administration, they could reemerge to save the club from the brink.
