Administrator Begbies Traynor has taken control of Sheffield Wednesday with immediate effect and is planning a “swift sale” of the club. The move was initiated by owner Dejphon Chansiri, who also placed the company owning Hillsborough into administration, allowing both to be sold “as a whole.”
This “great news for supporters,” as the administrator called it, was tempered by an automatic 12-point EFL deduction. The penalty drops the Owls to -6 points, 15 points adrift of safety, making relegation a near certainty.
The club has been “trading at a significant loss for several years,” with Chansiri funding the losses. However, with $pounds{}$1 million owed to HMRC and repeated unpaid wages, Chansiri “ran out of options.”
Manager Henrik Pedersen met with the administrators and his “emotional” staff. He called the day a “fresh restart,” stating the situation of the past few months “cannot continue.” He remains hopeful job losses can be avoided.
Fans are “overjoyed” at Chansiri’s exit, and seats bearing his name were quickly removed from the stadium. The Supporters Trust is now calling on fans to end their boycotts and buy tickets, stating, “Now is the time to be Wednesday.”