Sheffield Wednesday to land potential 12-point deduction after administration update emerges
Sheffield Wednesday could be set to land a significant points deduction after their financial crisis has taken a new twist.
Sheffield Wednesday’s players weren’t paid in September, making it five of the past seven months where they have not received their wages on time.
During this period, Sheffield Wednesday have also been hit with six embargos, the most recent coming after they were found to have breached the EFL’s profit and sustainability rules.
However, there has been talk of the independent regulator taking control of Sheffield Wednesday and removing Dejphon Chansiri from the club’s ownership.
Sheffield Wednesday could land 12-point deduction
It emerged last week Sheffield Wednesday were facing a winding-up petition after failing to settle a £1million debt owed to HMRC.
The situation is continuing to evolve quickly as the debts continue to pile up for Chansiri, who has so far failed to find a solution.
In a new development, talkSPORT reported on Friday (24 October) the Owls are set to be placed into administration “imminently”.
Finance expert Stefan Borson told Football Insider Sheffield Wednesday will land a points deduction if they go into administration.
“If there is no money in the club and they have no access to money from either the owner or selling assets, then of course that’s how you run out of cash and that’s how you end up in administration,” said Borson.
“But it’s not going to solve the issue anyway. You have still got to find a buyer. It’s got to find somebody that’s going to fund the situation. If it does go into administration, you’ve got the points deduction.
“You’ve got issues with further points deductions if you can’t settle the creditors in a satisfactory way. It’s not good news for anybody for there to be a winding-up petition or for there to be threats of administration.”
Derby County, who were the last EFL club to enter administration, were deducted 12 points in September 2021.
How much does Dejphon Chansiri want for Sheffield Wednesday?
Sheffield Wednesday are estimated to be worth around £70m despite Chansiri insisting he wants closer to £100m.
The Thai businessman purchased the Owls for around £40m from Milan Mandaric in 2015.
Former Crystal Palace co-owner John Textor has been linked with a Sheffield Wednesday takeover, but it’s currently unclear whether he’s in a position to agree a deal.
The American billionaire owns majority stakes in French club Lyon, Brazilian first division outfit Botafogo and Belgian side RWD Molenbeek through Eagle Football Holdings.
Sheffield Wednesday have also struggled on the pitch this season after losing several of their first-team stars in the summer transfer window.
Danny Rohl left the Owls before the start of the campaign, with his assistant Henrik Pedersen taking up the managerial duties.
Sheffield Wednesday currently sit bottom of the Championship table after picking up six points from their opening 11 games of the season.
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