Sheffield Wednesday are currently navigating a turbulent period, facing both the hope of a quick sale and the looming threat of further points deductions. The Championship club, recently placed into administration by owner Dejphon Chansiri, is now the target of "four or five" serious bidders, according to joint administrator Kris Wigfield. Wigfield has expressed optimism that a preferred bidder could be identified by the end of November, with the hope of concluding a deal before the end of the year. This timeline raises the possibility of new ownership being in place for the January transfer window.
However, the Owls' troubles don't end with the administration. The club has already been hit with a 12-point deduction for entering administration, leaving them at the bottom of the Championship table with minus six points. Adding to their woes, Sheffield Wednesday could face further points deductions this season for breaching English Football League (EFL) regulations.
The potential for further deductions stems from the club's repeated failure to pay wages on time. It has been reported that the Owls have failed to pay wages on time for five of the past seven months. The non-payment of wages in March, May, June, July, and September could lead to additional penalties. Justin Allen reports that Sheffield Wednesday faces a potential 15-point deduction with the late payments breaching EFL financial rules. He states that the case would go to an independent disciplinary commission, which could impose a three-point penalty per late payment.
Adding to the financial strain, Sheffield Wednesday is reportedly owing £1 million to HMRC. The club is currently under five separate transfer embargoes with the EFL over rule breaches. They are not permitted to pay fees for players until the summer of 2027 after exceeding 30 days of late payments between July 1, 2024, and June 30, 2025.
Despite the challenges, there's a sense of optimism surrounding the potential change in ownership. News of Chansiri's exit has generated positive energy among those associated with the club. Supporters have rallied, spending more than £500,000 on tickets and merchandise since the administration announcement. This financial support is seen as vital to keep the club going, particularly to ensure wages can be paid.
The sale process must adhere to EFL rules, requiring the club to remain on the market for a minimum of 28 days. The EFL is reportedly prepared to be flexible with these rules to facilitate a quick sale. The administrators are focused on ensuring smooth operations to maximize the amount of money coming into the club.
While the quick sale offers a glimmer of hope, the potential for further points deductions casts a shadow over Sheffield Wednesday's immediate future. The club's ability to attract a suitable buyer and navigate the EFL's regulations will be crucial in determining their fate.
