The administrator for Sheffield Wednesday, Begbies Traynor, has described the ability to sell the club and Hillsborough stadium “as a whole” as “great news for supporters.” This was made possible by owner Dejphon Chansiri placing both the club and the separate stadium-owning company into administration.
The move, however, comes at a huge sporting cost. The EFL immediately imposed a 12-point deduction, dropping the Owls to -6 points at the bottom of the Championship, 15 points from safety.
The club has been “trading at a significant loss for several years,” according to joint-administrator Kris Wigfield. The crisis includes $pounds{}$1 million in unpaid taxes and months of missed wage payments, which fans blame on Chansiri’s “financial mismanagement.”
Fans called the day “bittersweet,” celebrating Chansiri’s exit while lamenting the penalty. Seats bearing the former owner’s name were quickly dismantled.
Manager Henrik Pedersen remains defiant, insisting he has “a big belief we can survive.” He called the administration a necessary “fresh restart” for the “fantastic club.”