Sheffield Wednesday Enters Administration Amid Financial Crisis

Sheffield Wednesday has entered administration, resulting in a 12-point deduction amid significant financial troubles. Ownership issues led to breaches of English Football League regulations, with new administrators appointed to stabilize and sell the club. Fans hope this marks a turning point in the team's 158-year history.

Sheffield Wednesday, one of England's oldest football clubs, has been docked 12 points after entering administration due to mounting financial issues. The English Football League (EFL) had charged the Championship club with regulatory breaches for failing to pay players on time.

The club has faced previous penalties, including registration embargoes and a six-point deduction during the 2020-21 season. A statement confirmed Dejphon Chansiri, director of Sheffield Wednesday, has appointed administrators to manage the club and its owning company, Hillsborough.

Joint administrators, now managing the club's operations, are seeking a new owner. The situation is comparable to Derby County's 2021 relegation following a similar points deduction. Despite ownership controversies, fans view this as a critical juncture for Sheffield Wednesday's future.

(With inputs from agencies.)