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Culture Secretary Lisa Nandy has called sheffield wednesdayThe situation is “extremely worrying” after the plight of Club entered administration On Friday.
The Owls, whose financial difficulties have been well documented in recent months, released a statement on Friday afternoon announcing the appointment of administrators.
EFL It then confirmed the 12-point approval for entering administration in a statement of its own, but pointed out the process “offers Sheffield Wednesday the opportunity to move matters forward towards a successful sale and secure a future under new ownership”.
The deduction leaves the bottom of the Championship side minus six points, 13 points off the bottom of the table, ahead of Saturday’s match against Oxford at Hillsborough.
Bankruptcy firm has been appointed on Wednesday Begbies Traynor Dezfon Chansiri’s controversial ownership of the club, as administrators, have now ended.
Nandy said the government’s new independent football regulator would have the power to protect clubs from similar situations in the future.
“This is an extremely worrying situation for Sheffield Wednesday fans, staff and players,” Nandy said. “Having been in this position with my team, Wigan Athletic, I know everyone who loves the club will be hoping for a resolution as soon as possible.
“These are the circumstances which led this Government to establish a new independent football regulator. Owners should be good stewards who act with the best interests of their club in mind and clearly, in this instance, that has not happened.
“We are working quickly to give the regulator the powers it needs so it can better safeguard the future of football clubs and ensure they remain at the heart of their communities.”
Wednesday Fans have been urged to return to Hillsborough and support the team.
Joint administrator Chris Wigfield said: “Like many football clubs, (Sheffield Wednesday) has been trading at significant losses for many years, those losses have historically been funded by former owner Mr Chansiri.
“Due to increasing financial pressures on the club, the owner has decided to place the club and stadium company into administration, which will enable us to market the club and stadium as a whole, which is great news for supporters of the club.”
The club’s statement highlighted a decline in matchday revenue due to the supporters’ boycott against Chansiri, with attendances falling from an average of 26,000 last season to just over 17,000 currently.
Wigfield said: “Supporters are the backbone of any football club. The money they spend on the gate and at the ground is vital. I have been a season ticket holder since 1984 and know first-hand the passion of this fan base.
“Now, more than ever, we need fans in the ground – buying tickets, merchandise, pies and pints. Every penny spent will go directly into the day-to-day running of this club, not towards the former owner or professional costs. This will help to stabilize the club and support loyal players and staff while we secure a suitable buyer.”
Paul Stanley, one of the three joint administrators, said there should be no disruption to Wednesday’s program as a result of the entry into administration.
Stanley said, “If more fans return to Hillsborough, the club can cover its daily costs and move towards a viable sale to new ownership capable of restoring long-term sustainability.”
“With the right ownership structure, we are confident that the club has a bright future and will meet all EFL regulatory obligations.”
Additional reporting by PA