Administrator Begbies Traynor has taken control of Sheffield Wednesday with the immediate goals of protecting creditors and finding a new owner. The move, initiated by Dejphon Chansiri, cost the club 12 points, dropping them to -6 in the Championship.
The club’s creditors include HMRC, which is owed an estimated $pounds{}$1 million in taxes, and staff and players who have gone unpaid in five of the last seven months. Joint-administrator Kris Wigfield said the club had been “trading at a significant loss for several years.”
Chansiri’s decision to also put the stadium company into administration allows the administrator to market them “as a whole.” This “great news” for fans was tempered by the 15-point gap to safety the club now faces.
Manager Henrik Pedersen told his “emotional” staff that the club needed a “fresh restart.” He remains defiant, stating he has “a big belief we can survive” despite the penalty.
The Supporters Trust, which had led protests against Chansiri, is now calling for a “phase of renewal,” urging fans to return to the stadium and provide much-needed income.