Stefan Borson reacts as Sheffield Wednesday saga takes new twist
Sheffield Wednesday are continuing to face severe financial issues as their ownership situation remains unresolved.
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.
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Former Man City financial adviser Stefan Borson exclusively told Football Insider the winding-up petition will not be decisive in resolving Sheffield Wednesday’s future.
There has been speculation the latest updates could force Chansiri into selling the club.
Speaking exclusively to Football Insider, Borson said: “Well, we knew there was a HMRC issue because one of the embargoes from the EFL was a HMRC embargo.
“We also have public notes from the fan group who met with the EFL, where the possibility of a winding-up petition and the HMRC issue was in those notes. So, this isn’t a secret that there’s been an issue with HMRC in any way.
“If you’re a club that’s sometimes not paying staff and players, inevitably you’ve also got an issue with HMRC. It’s just in every situation that that is how it has panned out.”
Sheffield Wednesday are estimated to be worth around £70m despite Chansiri insisting he wants closer to £100m.
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Borson revealed Southend United have been hit with multiple winding-up petitions in recent years, but the club continue to play in the National League.
“In itself, the winding-up petition is optically not good, but it’s not in itself decisive,” said Borson.
“As I understand it, Southend have had something like 20 winding-up petitions from HMRC over the years, and each time they were settled by the owner and life goes on, so none of it in itself is a massive surprise.
“But clearly, the situation looks like it’s going to have to come to a head in some form.”
Sheffield Wednesday currently sit bottom of the Championship table, but they are only behind rivals Sheffield United on goal difference.
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