Stefan Borson drops Sheffield Wednesday points deduction verdict
Sheffield Wednesday are facing the threat of administration following the latest development in their financial crisis.
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.
As a result of their disastrous circumstances, there has been talk of the independent regulator taking control of Sheffield Wednesday and removing Dejphon Chansiri from the club’s ownership.
BBC Sport reported on 16 October the Owls will be hit with a winding-up petition imminently after failing to settle a £1million debt owed to HMRC.
Sheffield Wednesday set to reach ‘crucial’ point as crisis deepens
Former Man City financial adviser Stefan Borson exclusively told Football Insider Sheffield Wednesday will land a points deduction if they go into administration.
Derby County, who were the last EFL club to enter administration, were deducted 12 points in September 2021.
Speaking exclusively to Football Insider, Borson said: “There are so many parties that are sniffing around and making it even more complicated than it is, from fan groups, to the EFL, to the local politicians getting involved, to the IFR, which is about to kick off the independent football regulator.
“There are so many people who are interested in the outcome and lobbying for a certain outcome. Then of course, you’ve got the owner, who I suspect knows that he needs a solution. It’s not that difficult to see that there needs to be a solution here.
“Then it’s a question of either he has the access to the funds to settle some of these issues, or he doesn’t. If he doesn’t, then of course there’s going to be a crunch point that could end up with the appointment of an administrator. I mean, that’s just a statement of the obvious.”
Sheffield Wednesday are estimated to be worth around £70m despite Chansiri insisting he wants closer to £100m.
Dejphon Chansiri told to find Sheffield Wednesday buyer soon
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.
“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.”
Sheffield Wednesday currently sit bottom of the Championship table, but they are only behind rivals Sheffield United on goal difference.
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