According to the "Times" report, the crisis-ridden English Championship club Sheffield Wednesday officially submitted documents to the British Revenue and Customs Administration on Friday morning, applying to enter the administration process.
The move signals the end of an era for controversial Thai boss Deson Changsiri. According to the regulations of the English Football League EFL, entering administration procedures resulted in Sheffield Wednesday being automatically deducted 12 league points. The team currently has 6 points under the leadership of coach Pedersen, 3 points away from the safety zone. After the deduction, it will become minus 6 points. The prospect of relegation is extremely bleak.
To make matters worse, the club also faced another points deduction from the EFL for "other issues related to poor management". It is reported that Sheffield Wednesday are currently under five transfer bans and owe the tax authorities approximately £1 million. The club has failed to pay wages on time in five of the past seven months, sparking ongoing protests from fans.
The EFL has confirmed receipt of the notice and said that while the points deduction is automatic, it "also provides an opportunity" for Sheffield Wednesday to "promote a successful sale and secure a future under new ownership". Appointed administrator Chris Wigfield will be responsible for paying creditors and finding a new buyer, but there are currently at least three parties interested in acquiring the property.
Chancery acquired Sheffield Wednesday for about 40 million pounds in 2015. During this period, the team entered the promotion play-offs twice but failed, and was relegated to League One for two years. He said he was willing to sell four months ago but is said to have rejected the offer and demanded as much as £100m. The newly established independent football regulatory body is also preparing to investigate.