Sheffield Wednesday have filed for administration, and Owls owner Dejphon Chansiri has turned to familiar faces to help the club through this tough period.
It’s been a torrid time for Wednesday, which saw late wage payments in five of the last seven months, five embargoes being placed upon them by the EFL, and a winding-up petition being served to them by HMRC, stating that £1 million was owed.
Ultimately, the latter was the straw that broke the camel’s back, with journalist Alan Nixon reporting via Patreon on Friday that Wednesday have hired top firm Begbies Traynor to guide them through this period of administration.
Begbies Traynor comes with a good reputation for helping clubs survive what can sometimes be a damning situation, and both Wigan Athletic and Blackpool have been involved with the company, Wigan when they went into administration themselves in 2020.
Sheffield Wednesday hire Begbies Traynor to help through administration – They helped Blackpool & Wigan
Alan Nixon, via his Patreon, reported that Sheffield Wednesday have brought in Begbies Traynor to help steer the club through this period of administration.
Begbies Traynor is a firm who have helped save many football clubs and steer them on to new ownership. Julian Pitts, Paul Stanley and Kris Wigfield are reported to be the three appointed administrators in charge of resurrecting and then selling Sheffield Wednesday.
The firm have plenty of previous experience with football clubs in the past, helping the likes of Bournemouth, Southampton, Bolton Wanderers and Blackpool, and most recently, Wigan Athletic, avoid going out of business for good.
So, the law firm comes with a good reputation and a good track record of selling clubs, and there’s been plenty of rumoured suitors to come in for Wednesday.
There were some fears that there would be some complications surrounding the ownership of Hillsborough in regards to the club going into administration, as Chansiri bought the ground back in 2019.
Therefore, there was a scenario in which potential buyers may needed to have negotiated that deal separately. However, BBC Sheffield journalist Rob Staton has confirmed that the administrators have also been brought in to run Sheffield 3, which is the company that owns Hillsborough.
So, Sheffield Wednesday fans may finally be seeing light at the end of the tunnel regarding a sale.
Administration could be a positive revelation for Sheffield Wednesday
No team ever wants to go into administration, as it can sometimes result in extinction, but ultimately, this is the risk Sheffield Wednesday needs to take to get out the other side.
Dejphon Chansiri has finally given up trying to get his desired £100 million, and now it’s up to the administrators to find a suitable replacement.
Given the rumoured interest from John Textor and how he stated that he’s one of a few different suitors, it may be an easier task than once thought.
There’ll be complications regarding building back up a threadbare squad who will likely start life in League One next summer given going into administration brings about an immediate 12-point deduction, but compared to what Owls fans have had to go through over the past seven months, it could be rather positive.
Whether it’s John Textor or perhaps even someone who wouldn’t have expressed interest until now, given the inevitable drop in selling price, they’ll have a lot of work to do in getting the club back on its feet, but it’s at least looking likely that there’ll be a Sheffield Wednesday to save, rather than one getting constantly driven further into the ground.
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