Sheffield Wednesday facing administration

[sten_super]

Did a search and couldn't see anything about this, apologies if fixtures.

BBC Sport - Football - Sheffield Wednesday facing administration

League One side Sheffield Wednesday could be forced into administration in the next 24 hours unless they pay a tax bill of £1.1m.

Sources close to the club confirmed to BBC Radio Sheffield that last-minute talks are continuing with their bank.

However there are real fears that fresh money will not be made available to pay off the debt.

Two months ago the South Yorkshire club faced a winding up order over an unpaid tax bill of £550,000.

On that occasion an agreement was reached and the case adjourned.

606: DEBATE
Have your say on this development

Now Sheffield Wednesday are due before the High Court in London on Wednesday with the amount owing to HM Revenue & Customs having risen to £1.1m.

So far the club's bankers, the Co-op Bank, have refused to release any extra cash to meet the new debt.

The league leaders would be deducted 10 points if they do enter administration.

It might also have an impact on the club's ambitions to host World Cup matches in 2018 should England win their bid to stage the tournament.

Wednesday were relegated from the Championship last season and the club estimates this has already lost them more than 20% of last year's income.

 

[theonesmith]

 

[bhaexpress]

Sorry but a club who lives beyond it's means doesn't get much sympathy from me.

 

[clippedgull]

It won't happen.

 

[Horton's halftime iceberg]

The management of the club were very adamant this bill would be paid at the last high court hearing. I hope they have stuck to their word.

It will not be taken lightly of the have renagaded on this. One of these clubs will come a croper soon in front of a high court judge.

 

[Easy 10]

That'd be VERY handy if they had 10 points lopped off this season.

Come on FL. You know you want to.

 

[Couldn't Be Hyypia]

Won't happen because no one has the balls to make an example of a higher profile club.

 

[Horton's halftime iceberg]

That'd be VERY handy if they had 10 points lopped off this season.

Come on FL. You know you want to.

This is beyond going into Admin and losing points I beleive, like us in the past they owe a massive tax bill and the last action was a winding up order from HMRC in the high courts.

The owners were all very 'this is riddiculous and everything is okay, bill will be paid by next Wednesday'. If this has not been done they could be going out of buissnes, especially if they are called back to the high court.

 

[CHAPPERS]

Oh well, they thought it okay not to pay their tax bill but still signed players. Ho hum.

 

[deletebeepbeepbeep]

I very much doubt it will happen.

 

[bhaexpress]

Always a first time and after the farce with Pompey maybe somebody will get a kicking.

 

[theonesmith]

I very much doubt it will happen.

Why? If they relied on the bank for money and the bank won't lend anymore, there's nothing to stop them entering administration..

 

[Easy 10]

This is beyond going into Admin and losing points I beleive, like us in the past they owe a massive tax bill and the last action was a winding up order from HMRC in the high courts.

The owners were all very 'this is riddiculous and everything is okay, bill will be paid by next Wednesday'. If this has not been done they could be going out of buissnes, especially if they are called back to the high court.

Believe it when I see it.

 

[Ernest]

They had enough money to sign lumps like Weaver and Mellor so why couldn't that money been used to pay their tax bills ?

 

[Horton's halftime iceberg]

They had enough money to sign lumps like Weaver and Mellor so why couldn't that money been used to pay their tax bills ?

Quite right, lets hope their current board are not playing with the clubs future. The FA still have not got a handle on clubs overspending.

 

[paulie]

I'm not sure they spent any money in the close season and didn't they sell their keeper for £1m?

It isn't always the case that living beyond your means leads to administration - a drop in income following relegation or because of the recession can see to that.

You're very lucky that Knight was prudent and Bloom is wealthy, but there but for the grace of god go you.

I like Wednesday and hope they get through it.

 

[The French Mistress]

Won't happen.

 

[Couldn't Be Hyypia]

Who do you support paulie?

 

[Publius Ovidius]

I find the comments on here regarding another football league club a bit distasteful.

I seem to recall Wednesday fans standing next to me at Fans United and offereing support.

Or are we saying , thanks for then, but now you can f*** off!

 

[Tooting Gull]

I'm not sure they spent any money in the close season and didn't they sell their keeper for £1m?

It isn't always the case that living beyond your means leads to administration - a drop in income following relegation or because of the recession can see to that.

You're very lucky that Knight was prudent and Bloom is wealthy, but there but for the grace of god go you.

I like Wednesday and hope they get through it.

Spot on, and shame it had to be a Palace fan saying that. I continue to find it staggering the amount of smug bollocks spouted on here about other clubs' problems. Even with Knight's prudence (and let's have it right, that meant losing LESS money, not making a profit) Bloom was a godsend without which we wouldn't have had the ground and who knows what else besides.

I read this board now and its all 'I'm paying £100 a month to be in the 1901 club', and 'F**k the other clubs, it's their own fault'. Sometimes it's like it's not the same club/group of fans at all. And then these same people will be on here criticising the Prem for being self-serving and money-mad. Incredible.