Administrator Begbies Traynor has pledged to find a new owner “as swiftly as possible” for Sheffield Wednesday after the club was placed into administration. The move, initiated by owner Dejphon Chansiri, results in a 12-point deduction, dropping the Owls to -6.
Joint-administrator Kris Wigfield said the club has been “trading at a significant loss for several years.” He confirmed the club and stadium company are both in administration, allowing them to be sold “as a whole,” which he called “great news for supporters.”
The administration was forced by “increased financial pressure,” including a $pounds{}$1 million tax bill and months of unpaid wages. Fans, who are “overjoyed” to see Chansiri gone, called the day “bittersweet” due to the 15-point gap to safety that now opens up.
Manager Henrik Pedersen met with the administrators and remains hopeful. He called it a “fresh restart” for a “fantastic club” and, against all odds, vowed to “keep fighting” to avoid relegation.
The Supporters Trust is now calling on fans to end their protests. “The phase of resistance has achieved its goal,” a statement read. “Now begins the phase of renewal… Now is the time to be Wednesday.”