Culture Secretary Lisa Nandy has cited the financial collapse of Sheffield Wednesday as “another reminder” of the urgent need for an independent football regulator. Her comments came as the Owls were placed into administration and hit with a 12-point deduction, leaving them on -6 points.
Nandy, who experienced a similar crisis with her own team, Wigan Athletic, said, “I know everyone who loves the club will be hoping for a resolution as soon as possible.” The new regulator, which was signed into law this year, is expected to be operational by the 2027-28 season and is designed to prevent such financial mismanagement.
The mismanagement at Wednesday, blamed on owner Dejphon Chansiri by the Supporters Trust, led to significant debts, including $pounds{}$1 million to HMRC and months of unpaid wages. Chansiri’s decision to file for administration ends his tenure but plunges the club into a sporting crisis, 15 points from safety.
The club is now being run by administrators from Begbies Traynor, who are tasked with finding a new buyer for the club and Hillsborough stadium. They are hopeful that selling the two entities together will make for a more attractive purchase.
Manager Henrik Pedersen and the Supporters Trust have both called for unity. After months of fan boycotts, the trust is now urging supporters to return. “The phase of resistance has achieved its goal… now begins the phase of renewal,” a statement read, emphasizing the need for ticket and merchandise sales.