Sheffield Wednesday entering administration is GOOD news as end of Dejphon Chansiri hell edges closer | OneFootball

In the latest chapter of their ongoing crisis under Dejphon Chansiri, Championship club Sheffield Wednesday have filed for administration.

Supporters have been protesting against Chansiri’s ownership this season, with the club bottom of the Championship after winning only one of their opening 11 games.

Sheffield Wednesday file for administration: The key details 👇

As a result of entering administration, the Owls will receive a 12-point deduction and further deductions are feared as they plunge into a full-blown crisis. But it’s not all bad news.

Why are Sheffield Wednesday entering administration? 👇

For five of the last seven months, Sheffield Wednesday owner Chansiri has failed to pay his players and staff on time.

The club have been hit with a series of penalties.

Delayed wage payments saw Wednesday hit with five embargoes from the English Football League.

Wednesday had already been placed under registration embargoes in the last two seasons. They received a six-point deduction for breaching profit and sustainability rules during 2020/21.

Chansiri has now been left with no choice but to file for administration, having set unrealistic asking prices to buy the club this year.

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The word ‘administration’ sparks fear, but it can be spun as a positive thing. Administration does at least move the door from being ajar to wide open in terms of a sale.

Frustration from fans has resulted in extreme measures, with the home support being outnumbered by traveling Middlesbrough fans in midweek and the supporters’ trust urging matchgoing fans not to purchase snacks or drinks.

As well as the majority of the club’s fanbase, Chansiri has been absent from Hillsborough this season. It has become very, very toxic, but supporters just want their club back.

Not only have fans been protesting in the stands, but they also stormed the pitch during a home match on October 4.

Why do Sheffield Wednesday fans want Dejphon Chansiri to sell the club? 👇

Long story short, the guy is burning a fantastic football club to the ground.

Chansiri has expressed his openness to selling up, but has been setting unrealistic valuations of 100 to 200 million over the past six to nine months.

“If the fans want me to sell, I’ll sell,” were the words of Chansiri and fans have urged him to follow through. So far, he hasn’t. But administration is the closest they have been to his departure and will force him to sell.

The Thai businessman paid around £40m to assume control of the Owls a decade ago and is reportedly in talks with ex-Crystal Palace owner John Texter over a takeover.

What next for Sheffield Wednesday? 👇

Well, thankfully and hopefully, the sale of the club and the end of an awful tenure under Chansiri’s ownership.

On the pitch, the only certainties they are facing are more defeats and an inevitable relegation from the Championship, points deduction or not.

Off of it, entering administration is the best thing to secure the long-term future of the Owls.

But for the current staff, it’s a period of uncertainty. Some will be on the wrong side of initial job cuts before player sales are possible in January.

Finance expert Rob Wilson recently explained: “While many think of administration as a last resort, particularly given the points sanction that would follow, it actually presents a best outcome for the club and its supporter base. Though it will adversely affect the current owner and his own financial future.

“While administration points to financial instability and could see some key assets undervalued or sold under pressure, the process would actually enable SWFC to reset its financial liabilities, enable the EFL to intervene and support the sales process and secure a new level of investment or ownership that stabilises the club in the medium term.

“Ultimately, what is clear, is that the club lacks both the liquidity and revenue to maintain its own financial operations. It is operating a hand-to-mouth existence which benefits no stakeholder; fans, employees, players or the owner.”