EFL Dock Sheffield Wednesday 12 Points As Club Goes Into Administration
by Ernest Victor · Naija NewsSheffield Wednesday have officially gone into administration, ending months of financial chaos and bringing Dejphon Chansiri’s troubled ownership to a close.
The development means the club will suffer a 12-point deduction under English Football League regulations.
In a statement on Friday, the Championship side confirmed that Julian Pitts, Kris Wigfield and Paul Stanley from Begbies Traynor have been appointed as joint administrators of both Sheffield Wednesday Football Club Limited and Sheffield 3 Limited, the company that owns Hillsborough Stadium.
“The joint administrators have taken over the running of the club with immediate effect to protect the interests of creditors and to ensure Sheffield Wednesday can continue operating while we seek a new owner as swiftly as possible,” said Kris Wigfield, managing partner at Begbies Traynor.
Wigfield revealed that the club had been “running at a significant loss for several years,” with Chansiri personally covering much of the deficit before financial pressures became overwhelming.
“Due to increased financial pressure on the club, the owner has chosen to place the club and the stadium company into administration which will enable us to market the club and the stadium as a whole, which is great news for supporters,” he added.
Fans had grown increasingly frustrated with Chansiri, staging protests and boycotts throughout the season. Attendance at Hillsborough has fallen by roughly 35 per cent since last year, worsening the club’s financial struggles.
Paul Stanley assured supporters that fixtures will continue as planned, including Saturday’s home clash with Oxford United. “Sheffield Wednesday is a massive, historic club with a loyal fan base in a city that lives and breathes football,” he said. “If more fans return to Hillsborough, the club can cover its day-to-day costs and move towards a viable sale.”
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