Sheffield Wednesday enters administration

Sheffield Wednesday Football Club has entered administration.

Business recovery firm Begbies Traynor has been appointed to safeguard the Championship side’s future.

Julian Pitts, Kris Wigfield and Paul Stanley have been appointed joint administrators of the Owls and Sheffield 3 Limited, the company that owns the club’s Hillsborough stadium.

Officials say the move follows “significant efforts to agree a sale to a credible future custodian in recent weeks, which unfortunately could not be concluded, and amid rising pressure from creditors.”

The club has been docked 12 points by the EFL following the move; however, bosses say fixtures – beginning with a home match versus Oxford United tomorrow – are expected to be fulfilled.

The decision comes after a tumultuous period for the Owls, which has seen average home attendances fall by more than 30 per cent on last season – to just over 17,000 – after fans boycotted ticketing, concessions and retail outlets in a dispute with former owner Dejphon Chansiri.

Mr Wigfield, Begbies Traynor managing partner, said: “Like many football clubs, it has been trading at a significant loss for several years, with those losses historically funded by the former owner Mr Chansiri.

“Due to increased financial pressure, the owner has chosen to place the club and the stadium company into administration, which will enable us to market the club and the stadium as a whole, which is great news for supporters.”

He urged fans to return to the terraces, to “stabilise the club and support loyal players and staff” as a buyer is found.

He said: “Now, more than ever, we need fans back in the ground - buying tickets, merchandise, pies and pints. Every penny spent will go directly to supporting the day-to-day running of this club, not to the former owner or professional costs.”

Mr Stanley added: “We are in close contact with the EFL to ensure the effects of this administration on the employees, supporters, the community and the players are minimised.

“In the coming weeks, we will work closely with staff, the supporters’ trust and the wider community to ensure the club is placed in the hands of a suitably-qualified and well-financed new owner.

“With the right ownership structure, we are confident the club has a bright future and will meet all EFL regulatory obligations.”     

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.