Article by Mihai Șovei – Published Friday, October 24, 2025, 4:54 p.m. / Updated Friday, October 24, 2025, 4:54 p.m.
Sheffield Wednesday, one of England's oldest clubs, has officially entered insolvency proceedings.
The English Football League (EFL) had previously charged the Championship club in June with multiple breaches of regulations after failing to pay players' wages on time.
Difficult situation for Sheffield Wednesday
The club founded in 1867 is going through an extremely difficult period. With big financial problems, it went into insolvency while it is in the bottom position in the English second league.
The Yorkshire club's poor management has led to transfer bans, demotions and unpaid wages for players and staff. Adding to the financial instability, the financier controversially sold Hillsborough Stadium to a separate company, which he also owns, facing accusations that he had underinvested in the maintenance of the ground. High managerial turnover and turning down multiple takeover bids by demanding an unrealistic £100m ($133m) asking price further highlighted the instability and lack of viable alternatives under his leadership.
At the start of the season, Sheffield Wednesday's players threatened to miss the start of the new season in the Championship.
BREAKING: Sheffield Wednesday have filed for administration amid the club's mounting financial issues, a court filing on Friday showed 🚨 pic.twitter.com/YcS2mvDu2q
— Sky Sports News (@SkySportsNews) October 24, 2025
It is not the first time the team has been penalized. During the 2020-21 campaign, it was deducted 6 points for breaking profit and sustainability rules. At the end of that season, the team was relegated from last place in the standings.
12 points for the Championship side
Sheffield Wednesday fans have been urged to show their support and help the club survive following the distressing news that the Owls have gone into insolvency. For the four-time English champions, this development comes after years of mismanagement by owner Dejphon Chansiri.
The team was deducted 12 points, so at the moment Sheffield has -6 points. The same punishment was meted out to Derby County in 2021, the season in which they were relegated.
photo: Championship standings, Sheffield Wednesday in last place / flashscore
