The financial collapse of Sheffield Wednesday, which resulted in a 12-point penalty for entering administration, is “another reminder” of the need for an independent football regulator, according to Culture Secretary Lisa Nandy.
The Owls dropped to -6 points, 15 points from safety, after owner Dejphon Chansiri filed for administration. Nandy, whose own team Wigan suffered a similar fate, said she knows “everyone who loves the club will be hoping for a resolution as soon as possible.” The new regulator is set to be in operation by the 2027-28 season.
The administration ends Chansiri’s tenure, which the Supporters Trust described as “years of financial mismanagement.” The club faces $pounds{}$1 million in unpaid taxes and has a history of missed wage payments, which decimated the squad.
Fans called the day “bittersweet,” celebrating Chansiri’s exit but mourning the points hit. Administrator Begbies Traynor is now in charge and seeking a “swift sale” of the club and stadium.
Manager Henrik Pedersen, while admitting it was a “sad situation,” called it a “good day” for the club’s future. He remains hopeful of preventing job losses and still believes his team can fight for survival.
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