‘Significant Loss for Several Years’: Administrator on Owls’ Collapse

The administrator for Sheffield Wednesday has stated the club “has been trading at a significant loss for several years,” leading to its collapse into administration. The move, filed by owner Dejphon Chansiri, has cost the club 12 points, leaving them on -6.
Joint-administrator Kris Wigfield of Begbies Traynor said Chansiri had historically funded these losses but “due to increased financial pressure” chose administration. This pressure includes a $pounds{}$1 million tax bill and months of unpaid wages.
The administration ends Chansiri’s reign, a “bittersweet” moment for fans who are “overjoyed” at his exit but devastated by the 15-point gap to safety.
Manager Henrik Pedersen, who has not spoken to Chansiri, met with the administrators. He called the day a “fresh restart” and, against all odds, vowed to “keep fighting” for survival.
The administrators will now market the club and stadium “as a whole.” The Supporters Trust, which had a fan-led takeover plan as a backup, is urging fans to return and provide the income needed to “rebuild.”