MANCHESTER, England (AP) – Historic English soccer club Sheffield Wednesday’s future was thrown into doubt Friday after it was taken over by administrators over financial concerns.
The English Football League has confirmed that the club, which was founded in 1867, will receive a 12-point deduction after coming into power. A notice was filed in the Insolvency and Companies Court.
The four-time English champions were an original member of the Premier League. They currently play in the Second Division of the Championship, currently at the bottom of the 24-team league.
This latest move comes after financial problems were clearly documented under owner Digifone Chansiri on Wednesday, prompting protests from fans and sanctions from the league.
Britain’s Culture Secretary Lisa Nandy said: “This is an extremely worrying situation for the fans, staff and players of Sheffield Wednesday.” “Owners are supposed to be good managers who act with the club’s best interests in mind, but that is clearly not the case in this case.”
Wednesday was already covered. Block payment of transfer fees For three windows after payment is late. The club and Chansiri have been sued separately by the league over non-payment of player wages.
Chance to “protect the future”
The league said Friday that recent developments are “an opportunity to move things forward toward a successful sale and secure its future under new ownership.”
Fans reacted to the news with a mixture of sadness and optimism.
Sheffield Wednesday Supporters Trust said in a statement: “Today is one of the most bittersweet days in our club’s proud 158-year history.” “The administration was the inevitable result of years of financial mismanagement, lack of accountability, and repeated failures to contract with trusted buyers.
“The administration is not to be celebrated. It didn’t have to end this way. However, I am very happy that Chansiri has left the club for good.”
The club said in a statement that administrators were appointed after “significant efforts to agree a sale to a reliable future custodian” could not be completed. It said it was facing “increasing pressure from creditors.”
Three-time FA Cup winners Wednesday said average attendance this season had fallen from 26,000 to 17,000 amid fan anxiety. Further economic damage has been caused by club interests and retailer boycotts.
“Now more than ever we need fans to come back to the ground and buy tickets, merchandise, pies and pints,” said joint administrator Chris Wigfield. “Every penny spent goes directly to supporting the day-to-day running of this club, not at the expense of previous owners or professionals.”
Mr Wigfield said administrators were looking for a new owner as soon as possible.
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