Sheffield Wednesday owner Dejphon Chansiri has placed the club and its stadium-owning company into administration, triggering a 12-point deduction that leaves the Owls bottom of the Championship on -6 points. The move comes after mounting financial pressures, including unpaid taxes, wages, and transfer fees, which led to transfer embargoes and a winding-up petition from HMRC over an estimated £1m owed.
Chansiri, whose family controls a canned tuna empire, bought the club for £30m in 2015. Since then, he has raised ticket prices, frequently changed managers, and announced sponsors that were not commercially active. The club previously received a 12-point deduction in 2020 over accounting irregularities related to the sale of Hillsborough, later reduced to six on appeal, but relegation to League One followed.
Administrators from Begbie Traynor now run the club day-to-day, aiming to stabilise finances and find a new owner. Joint-administrator Paul Stanley said: 'Our immediate priority is to ensure that we are able to operate as normal for the next home fixture against Oxford United on Saturday.' The process is expected to take eight weeks to establish a proposal for the business as a going concern.
If sold, Chansiri will receive proceeds as the leading shareholder and lender, but under football-creditor rules, he ranks low in priority. Players, staff, and other clubs are paid first, followed by secured and unsecured creditors. Chansiri’s estimated £100m loans to the club are believed to be unsecured, meaning he may not be repaid in full.
Culture Secretary Lisa Nandy said the administration is 'exactly why this government set up the new independent football regulator.' The regulator, expected to be fully operational by the 2027-28 season, will conduct expanded owners’ and directors’ tests and mandate clubs maintain sufficient cash reserves. A spokesperson for the IFR added: 'It is unacceptable that fans of football clubs face this level of uncertainty. Our regime will work to prevent instability and protect clubs for the benefit of supporters and their communities.'
