Sheffield Wednesday’s problems have worsened after a recent six-point deduction, further compounding their misery at the bottom of the Championship table. The club is in dead last in the league table with a -10 point goal. Indeed they are currently a dire 27 points adrift of safety, sitting bottom ahead of in-form Swansea City in 21st position. The point here is that the club is undergoing legendary changes in ownership and management at a critical juncture. This has left hardcore music fans very concerned for its future.
On June 3, the club and its owner, Dejphon Chansiri, were charged with repeatedly violating EFL rules about the obligation to pay debts. Yet things took a dramatic turn when, on June 26, Chansiri stated in an interview that he was open to selling the club. A cascade of worsening financial mistakes ensued, leading to additional punishments from the EFL.
Financial Troubles Mount
The financial nightmares for Sheffield Wednesday started with the first charge back in June. However, just a day after Chansiri’s sell statement, the EFL placed another embargo on them due to outstanding payments owed to HMRC. This limitation came down at a pivotal time. They reported that players and staff members received late payments on multiple occasions over the course of both July and September.
At home to Coventry City on October 4, the team suffered a crushing 5-0 defeat. This humiliating defeat brought this turmoil to a head at the club, leading to even more dire consequences. When Sheffield Wednesday very publicly filed for administration on October 24, this triggered an automatic 12-point deduction from the EFL.
On December 1, the club suffered an enormous blow. They were then hit by a further six-point deduction for different breaches of EFL regulations. This added their total points deduction this season to 18.
A Fractured Management Structure
Yet the chaos didn’t stop with the loss of points. The debt crisis and the resulting financial instability played key roles in the club’s management shake-up. On July 17, injury plagued key players Josh Windass and Michael Smith mutually departed Sheffield Wednesday, their fates sealed. Just weeks after, on July 29, manager Danny Röhl left in similar circumstances.
Yet the departures signaled a much deeper story at the club, as morale sank in the wake of constant financial struggles. The management and ownership change has put players and staff in an unstable situation amidst the COVID-19 pandemic.
“It feels a lot like kicking a club while it is down.” – Rob Dorsett
Dorsett’s sentiment speaks to the increasing frustration among fans. This is a charge levelled by analysts, all arising from worries about how the club’s been run during Chansiri’s stewardship.
Ownership Uncertainty and Future Prospects
As the club comes to terms with its new low-point, the future of its ownership remains uncertain. In agreement with the EFL, it has been explicit that there should be firm action by Chansiri to redress the balance.
“We are clear that the current owner needs either to fund the club to meet its obligations or make good on his commitment to sell to a well-funded party, for fair market value – ending the current uncertainty and impasse.” – EFL
Sheffield Wednesday’s immediate future could be bleak without intervention from Chansiri. An appropriate buyer needs to come in and provide the necessary long-term stability. Analysts say that Chansiri’s track record would discourage any willing and able buyer from even seeking to acquire the ownership.
“I don’t think Chansiri will be back owning an EFL club any time soon after his record at Sheffield Wednesday.” – Rob Dorsett
Sheffield Wednesday’s future is not so clear. Going forward, on and off the pitch, the club is dealing with deepening existential financial issues and dramatic impending executive upheaval. They find themselves propping up the Championship table with a shocking points gap. Fans are understandably worried about the future.
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