Sheffield Wednesday Football Club has entered administration.
Julian Pitts, Kris Wigfield and Paul Stanley of Begbies Traynor have been appointed joint administrators of Sheffield Wednesday Football Club Limited and of Sheffield 3 Limited, the company that owns the club’s stadium.
The administrators were appointed following 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.
Kris Wigfield, joint administrator and managing partner at Begbies Traynor, based in Sheffield, said: “The joint administrators have taken over the running of the club with immediate effect to protect the interests of creditors, and to ensure Sheffield Wednesday can continue operating while we seek a new owner as swiftly as possible.
“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 on the club, 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 of the club.”
Average home attendances at Hillsborough Stadium have fallen by around 35% since last season – from over 26,000 to just over 17,000 – with the boycott of ticketing, concessions and retail outlets compounding the drop in revenue. This has led to the closure of several matchday facilities in recent weeks.
Mr Wigfield added: “Supporters are the backbone of any football club. The money they spend at the gate and in the ground is vital. I’ve been a season ticket holder since 1984 and know first-hand the passion of this fanbase.
“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. This will help stabilise the club and support the loyal players and staff while we secure a suitable buyer.”
Paul Stanley, joint administrator, said: “There should be no interruption to the fixture schedule and we are in close contact with the EFL to ensure that the effects of this administration on the employees, supporters, the community and the players are minimised as far as possible.
“Sheffield Wednesday is a massive, historic club with a loyal fan base in a city that lives and breathes football. If more fans return to Hillsborough, the club can cover its day-to-day costs and move towards a viable sale to a new ownership capable of restoring long-term stability.
“With the right ownership structure, we are confident that the club has a bright future and will meet all EFL regulatory obligations.”
He added: “Our immediate priority is to ensure that we are able to operate as normal for the next home fixture against Oxford United on Saturday.
“In the coming weeks, we will work closely with the staff, the Supporters Trust and the wider community to ensure that the club is placed in the hands of a suitably-qualified and well-financed new owner.”
