Sheffield Wednesday Enters Administration as HMRC Moves to Wind Up Club

Sheffield Wednesday Football Club has entered administration, drawing a close to a turbulent decade under Thai businessman Dejphon Chansiri and triggering a new chapter in one of English football’s oldest institutions. The appointment of restructuring specialists Kris Wigfield, Julian Pitts, and Paul Stanley of Begbies Traynor as joint administrators came just hours before HM Revenue & Customs was expected to issue a winding-up petition against the club.

The move spares the 158-year-old club from immediate liquidation but comes at a heavy cost: a 12-point deduction that leaves the Championship side rooted to the bottom of the table. The administrators now face the dual challenge of stabilising operations and securing a new owner capable of restoring both solvency and credibility to a fanbase that has grown weary of financial mismanagement.

The administration follows years of persistent losses, regulatory sanctions, and public frustration. Chansiri’s decade-long ownership—once buoyed by playoff runs and promotion ambitions—devolved into a spiral of late wage payments, EFL embargoes, and unfulfilled promises of fresh investment. The club’s cash flow had become unsustainable, with mounting tax arrears and a reliance on the owner’s personal funding to bridge recurrent deficits.

While the full extent of the liabilities remains to be disclosed, HMRC appears to be among the largest creditors. The club also faces ongoing claims from former employees and suppliers, as well as deferred wage obligations. Against this backdrop, the administrators are expected to conduct a rapid assessment of the financial position and engage with stakeholders to preserve the club’s operations through the current season. A sale process is already underway.

Sheffield Wednesday’s collapse underscores persistent financial vulnerabilities across the English Football League, where club finances remain precariously dependent on owner subsidies and speculative investment. The case is expected to reignite calls for stronger financial oversight, particularly as multiple clubs have faced insolvency or near-collapse in recent seasons.