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Sheffield Wednesday supporters labeled Wednesday as “one of the most bittersweet days in our 158-year history” following the team entered financial administration by owner Dejphon Chansiri and deducted 12 points.

Financial Turmoil Results in Points Penalty

Sheffield Wednesday now face almost certain relegation after the EFL’s penalty placed them at minus six points, 15 adrift of safety. Team members and employees have not been paid on time in five of the past seven months, compounding the period of turbulence.

The appointed administrators have taken control of proceedings to sell Wednesday’s assets, along with Hillsborough stadium, to recoup debts including tax liabilities. Soon after the administration announcement, seats spelling out Chansiri were removed from the North Stand.

“Administration resulted from prolonged financial issues, poor oversight, and unsuccessful sale attempts,” stated the supporters' trust. “This isn't a moment for celebration. It needn’t have ended this way. But we are overjoyed to have Dejphon Chansiri out of our club for good

Manager’s Perspective on Fresh Start

Wednesday’s manager, Henrik Pedersen met the administrators with team members and employees early Friday. Pedersen stated administration was required for a fresh start.

The manager emphasized “a sad situation can also still be a good day”, adding: “We knew from the last five, six, seven, eight months it cannot continue. We need a fresh restart to use the potential of this fantastic club. Now optimism and hope for brighter days prevail. When I close my eyes, I can see a bright future for Sheffield Wednesday

Employee Concerns

Club staff were emotional at the news, with Pedersen saying: “There is insecurity. Do we get our salary now? What comes next? Will things improve? Will it not be better? Overall, there's hope for a shared future with the club.”

Ongoing Financial Struggles

The situation at Wednesday worsened significantly in recent months after the former manager and players left following unpaid wages. The league voiced worries regarding financial health in August.

From that point, the club have been living hand-to-mouth, applying all revenue such as solidarity payments to deal with debts. Facing potential closure orders by tax authorities, it appears Chansiri ran out of options.

Insolvency Practitioner's Comments

A lead administrator, Kris Wigfield from the insolvency firm said: “Similar to other teams, the club sustained heavy losses over multiple seasons, previously covered by the owner. Because of mounting money troubles, the owner has chosen to place the club into administration which will enable us to market the club and the stadium as a whole, a positive development for fans.”

Government Reaction

Government official Lisa Nandy said Wednesday’s plight highlighted again of the need for the independent football regulator, recently legislated. It should be active for the start of the 2027-28 season.

“Having been in this position with my own team, Wigan Athletic, so I understand fans want a quick solution,” she added.

Fan Response

Wednesday fans have boycotted the club’s retail and merchandise in recent months with many absent during the Middlesbrough match as part of ongoing protests. Before Oxford’s visit on Saturday, officials urged fans to return.

“Stability and revenue are critical now, according to the trust. Protest succeeded; rebuilding starts today. Every ticket bought, every shirt worn, every pie and pint enjoyed in Hillsborough helps the club rebuild. Real change is within our grasp – but only if we are prepared to seize it. It's time to back the team.”

Future Prospects

The trust anticipates buyer interest but had been working on a supporter-backed purchase plan guaranteeing “even in the worst-case scenario, the threat of liquidation will not be an option”.

The manager, once an assistant, said he was not resigned to relegation despite the tough situation. “We have to be a new Sheffield Wednesday with an old heart, he said. The club has great potential. I have a big belief we can survive in the Championship with this group of players. We will keep fighting