Sheffield Wednesday's Financial Collapse: Historic Club in Crisis

Sheffield Wednesday, one of the oldest football clubs in existence, has filed for administration amid escalating financial troubles, as revealed in a court document on Friday.

Previously, the English Football League (EFL) charged the club with several regulatory breaches in June following delayed wage payments to players. These issues followed a six-point deduction in the 2020-21 season for infringing profit and sustainability rules, compounded by registration embargoes over the last two campaigns.

Finishing 12th last year, Wednesday now languish at the bottom of the standings this season with only six points from 11 games. Owner Dejphon Chansiri, who led the acquisition of the club in 2015, was also charged by EFL for causing the club to breach regulations, despite having pledged to meet financial obligations. Chansiri admitted to the charges and offered an apology to the club's stakeholders.