Sheffield Wednesday placed in administration

Sheffield Wednesday have been placed into administration and hit with an automatic 12-point deduction by the EFL.

After it was revealed that His Majesty's Revenue & Customs (HMRC) was going to issue a winding-up petition against the club, Julian Pitts, Kris Wigfield, and Paul Stanley of Begbies Traynor were appointed as joint administrators. Staff have been briefed, and the administrators also held a meeting with the players.

The Owls, who defeated Oxford United at Hillsborough on Saturday (15:00 BST) in the Championship, are now on -6 points. The EFL's immediate deduction was enforced, but in a tweet, the EFL said this provided "the opportunity to move forward to a profitable sale and a secure future under new ownership."

Dejphon Chansiri's decade-long ownership of the club has come to an end. Sheffield Wednesday have been contacted by BBC Sport for comment.

'We need fans back'

BBC Sheffield understands there are potential buyers and that the administrators are already in active discussions, as well as inviting formal bids from other credible potential investors.

"The joint administrators have taken over the running of the club with immediate effect to safeguard creditors' interests and guarantee that Sheffield Wednesday will continue operating while we search for a new owner as quickly as possible," says Wigfield, a managing partner at Begbies Traynor.

"It's been trading at a significant loss for many years, with those losses financed by the owner. Mr Chansiri is no longer able to provide that financial assistance. While the latest fan boycott was not the direct cause of the insolvency, it has put more financial strain on the club. As a result, the owner has decided to put the club into administration.

"Supporters are the backbone of any football team. They must spend money both at the gate and in the ground. I've been a season ticket holder since 1984 and know the passion of this fanbase first-hand. We need fans back, more than ever," said Pitts, "with tickets, merchandise, pies, and pints.

"Any money spent will go directly to this club's day-to-day operation, not to the former owner or professional fees. This will help the club remain stable until we find a suitable buyer."

The club's creditors have been encouraged to make contact. Stanley, one of the other joint administrators, said: "There should be no disruption to the fixture schedule, and we are in constant communication with the EFL to ensure that the effects of the new administration on the employees, supporters, the local community, and the players are minimised as far as possible.

"Sheffield Wednesday is a major, historic club with a faithful fanbase in a city that lives and breathes football. If more fans return to Hillsborough, the club can cover its day-to-day expenses and move towards a more viable sale with a new owner capable of rebuilding for long-term stability. We are confident that the club has a promising future and will fulfil all EFL regulatory requirements with the right ownership structure."

Wednesday's tale of woe

Chansiri, a Thai businessman, took over at Hillsborough in March 2015 with the intention of leading the club back to the Premier League for the first time since 2000. They were defeated in the Championship play-off final by Hull City in May 2016, but that was the nearest they came to ending their top-flight exile under his ownership.

They were relegated to League One in 2020-21 after a six-point penalty for breaking spending rules. In 2023, Darren Moore led them back to the second tier, but he left by mutual agreement shortly after. Danny Rohl then revived the team after a slow start to the 2023-24 season under Xisco Munoz.

During Chansiri's reign, there had been issues with wage payments before, but matters came to a head when May's wages were not paid on time, as had also occurred in March. They are currently under five EFL embargoes, and wages have not been paid on time in five of the last seven months.

Rohl, the club's highly-rated manager who has since been appointed by Rangers, departed in July. His assistant Henrik Pedersen took over, leaving the club unable to bring in new players due to financial constraints.

Fans boycotted the EFL Cup matches against Leeds United and Grimsby Town this season and held street demonstrations. This culminated in a mass boycott of the league game against Middlesbrough (a 5-0 home defeat), which was temporarily stopped when a number of fans entered the field of play. Chansiri has been absent from the club for the entire season.