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Sheffield Wednesday - Into Administration (p44)
Comments
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Not sure he will necessarily get away with that.moutuakilla said:Imagine he'll be holding out for an overly inflated price for Hillsborough. Like someone we know
About time a stadium was not allowed to be separated from a Club.1 -
Find it strange that he put the stadium-owning company into admin too, must want a clean break, which is miles better for Wendies. They could've had their own little Thai Roland the Rat to deal with..............and don't think I'd even wish that on this Massive club
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An administrator has to get the best deal for the people owed money by the failed businesses, so can't prioritise keeping club and stadium together. However it has to be quite likely that the two together will be of more value to a purchaser than either on its own, which with any luck will mean that the best offer for both comes from the same person.fenaddick said:Glad he’s also put the stadium company into admin, just hope the administrators are sensible and sell the assets and club together7 -
Long term I think it'll be good got the club - may staunch the bleeding, let a better owner come in.CafcWest said:
Short term the points dedution makes little difference, they were going down anyway.0 -
The EFL can confirm that it has now received formal notice that Dejphon Chansiri, the director of Sheffield Wednesday Football Club, has taken the necessary steps to appoint Administrators to both the Club and also the company which owns Hillsborough.
Whilst this development results in the automatic deduction of 12 points in accordance with Regulations agreed by all Clubs, it also presents Sheffield Wednesday with the opportunity to move matters towards a successful sale and secure future under new ownership.
The EFL will now engage in discussions with the Administrators in respect of the immediate actions required to enable them to achieve an early resolution, and end the ongoing uncertainty faced by Sheffield Wednesday staff, management, players, supporters and all those associated with the Club and their local community.
The Championship League table will be updated with immediate effect.
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The Sports Direct Hillsborough Stadium 🏟️Swindon_Addick said:
An administrator has to get the best deal for the people owed money by the failed businesses, so can't prioritise keeping club and stadium together. However it has to be quite likely that the two together will be of more value to a purchaser than either on its own, which with any luck will mean that the best offer for both comes from the same person.fenaddick said:Glad he’s also put the stadium company into admin, just hope the administrators are sensible and sell the assets and club together0 -
Seems likely to meCaptainRobbo said:
The Sports Direct Hillsborough Stadium 🏟️Swindon_Addick said:
An administrator has to get the best deal for the people owed money by the failed businesses, so can't prioritise keeping club and stadium together. However it has to be quite likely that the two together will be of more value to a purchaser than either on its own, which with any luck will mean that the best offer for both comes from the same person.fenaddick said:Glad he’s also put the stadium company into admin, just hope the administrators are sensible and sell the assets and club together0 -
No sympathy from me.Should have gone down instead of us a few years ago.14
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The Chansiri seats are being removed already. A cosmetic change but a good one0
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I thought that if a team was relegated on results only, rather than because of a points deduction, the deduction was carried forward into the following season. That could mean them starting the 2026-2027 season in League 1 on -12 points.0
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Sponsored links:
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Katrien CEO at both clubs.11
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it is up to the administrators to get the best value for the creditors, I believe that is a legal requirement.Diebythesword said:
If they aren’t I won’t be surprised if there will be government intervention on that.fenaddick said:Glad he’s also put the stadium company into admin, just hope the administrators are sensible and sell the assets and club together
So if they get more money for selling the ground separate from the football club then they must do so, or leave them selves open to being sued.0 -
No it’s an immediate points deductionMasterbrew said:I thought that if a team was relegated on results only, rather than because of a points deduction, the deduction was carried forward into the following season. That could mean them starting the 2026-2027 season in League 1 on -12 points.0 -
At this stage it's unlikely but entirely possible they could have stayed up.Masterbrew said:I thought that if a team was relegated on results only, rather than because of a points deduction, the deduction was carried forward into the following season. That could mean them starting the 2026-2027 season in League 1 on -12 points.
It's not like a stranded team taking administration in April.1 -
Mike Ashley will probably be interested in the stadium like with Coventry's.
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Shame - I was looking forward to putting a few quid into Chansiri's pocket in April to thank him for their relegation1
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lol lol lol1
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I certainly can't see them surviving now.
Would be remarkable if they did.
Give it 2/3 years and they'll be back up again. Fairly certain someone wealthy enough will buy them and turn things around.
A few Americans might have a punt.
Genuinely gutted for them. I can't say I gave much of a shit about their demise last week.0 -
Yes, and - she’s a very successful businesswoman, which is what attracted me to her in the first instanceHenry Irving said:Katrien CEO at both clubs.27 -
There’s still a £7.4m charge, secured over the stadium, in favour of New Avenue Projects Limited, unless Chansiri managed to pay it (or roll it forward) when it was due on September 30th. I suspect that he’s been forced to include the Stadium Company in the Administration as the only way to raise enough to at least cover that, HMRC and any football debts. That in turn means that any other creditors will almost certainly be very limited in what they get. When I used to look after the Professionals sector in work, the average return on an administration was about 6p in the £.msomerton said:
it is up to the administrators to get the best value for the creditors, I believe that is a legal requirement.Diebythesword said:
If they aren’t I won’t be surprised if there will be government intervention on that.fenaddick said:Glad he’s also put the stadium company into admin, just hope the administrators are sensible and sell the assets and club together
So if they get more money for selling the ground separate from the football club then they must do so, or leave them selves open to being sued.2 -
Sponsored links:
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People dragging her name up must be very hard for you @cobbles…don’t pay any attention mate 😉cabbles said:
Yes, and - she’s a very successful businesswoman, which is what attracted me to her in the first instanceHenry Irving said:Katrien CEO at both clubs.4 -
And in this case football debts, ie transfer fees and player wages get priority, after HMRC, so even less for local caterers, printers, etc.TelMc32 said:
There’s still a £7.4m charge, secured over the stadium, in favour of New Avenue Projects Limited, unless Chansiri managed to pay it (or roll it forward) when it was due on September 30th. I suspect that he’s been forced to include the Stadium Company in the Administration as the only way to raise enough to at least cover that, HMRC and any football debts. That in turn means that any other creditors will almost certainly be very limited in what they get. When I used to look after the Professionals sector in work, the average return on an administration was about 6p in the £.msomerton said:
it is up to the administrators to get the best value for the creditors, I believe that is a legal requirement.Diebythesword said:
If they aren’t I won’t be surprised if there will be government intervention on that.fenaddick said:Glad he’s also put the stadium company into admin, just hope the administrators are sensible and sell the assets and club together
So if they get more money for selling the ground separate from the football club then they must do so, or leave them selves open to being sued.1 -
Yes. That’s what I was alluding to. The 6p was in usual corporate circumstances but football clubs, as ever, have their own rules in terms of who gets paid. Some local businesses may be lucky to get 1-2p in the £.Henry Irving said:
And in this case football debts, ie transfer fees and player wages get priority, after HMRC, so even less for local caterers, printers, etc.TelMc32 said:
There’s still a £7.4m charge, secured over the stadium, in favour of New Avenue Projects Limited, unless Chansiri managed to pay it (or roll it forward) when it was due on September 30th. I suspect that he’s been forced to include the Stadium Company in the Administration as the only way to raise enough to at least cover that, HMRC and any football debts. That in turn means that any other creditors will almost certainly be very limited in what they get. When I used to look after the Professionals sector in work, the average return on an administration was about 6p in the £.msomerton said:
it is up to the administrators to get the best value for the creditors, I believe that is a legal requirement.Diebythesword said:
If they aren’t I won’t be surprised if there will be government intervention on that.fenaddick said:Glad he’s also put the stadium company into admin, just hope the administrators are sensible and sell the assets and club together
So if they get more money for selling the ground separate from the football club then they must do so, or leave them selves open to being sued.1 -
Admin again ole ole0
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So what happens to the 6 transfer embargoes already in place ? Do they get wiped clean once a new owner takes over ? If so, what's stopping a new owner paying peanuts for the club then spending millions on new players in January ?
Isnt that what Southampton did about 10/12 years ago ?1 -
Worth sniping any players in January?0
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I think Dole sell bananas which seems rather appropriateCaptainRobbo said:
Who will pay for Barry Bananas hair transplants now?fenaddick said:Ultimately would be a good thing, they'd finally get the points deduction but more importantly someone can step in and stop the club going under2 -
Yes from what i've read they were calling in the loan........which he obviously couldn't repay. So a combination of that and the HMRC bill has forced Chansiri to put both the club and the stadium company into administration. Which is effectively great news for Wednesday as now a buyer will be getting both.TelMc32 said:
There’s still a £7.4m charge, secured over the stadium, in favour of New Avenue Projects Limited, unless Chansiri managed to pay it (or roll it forward) when it was due on September 30th. I suspect that he’s been forced to include the Stadium Company in the Administration as the only way to raise enough to at least cover that, HMRC and any football debts. That in turn means that any other creditors will almost certainly be very limited in what they get. When I used to look after the Professionals sector in work, the average return on an administration was about 6p in the £.msomerton said:
it is up to the administrators to get the best value for the creditors, I believe that is a legal requirement.Diebythesword said:
If they aren’t I won’t be surprised if there will be government intervention on that.fenaddick said:Glad he’s also put the stadium company into admin, just hope the administrators are sensible and sell the assets and club together
So if they get more money for selling the ground separate from the football club then they must do so, or leave them selves open to being sued.2 -
They are currently under 5 embargoes and 1 fee restriction. The embargoes, that prevent them from adding to their player costs, get lifted once the breach has been rectified. The fee restriction doesn’t get removed - they can’t pay a fee for a player until the summer 2028 window, but they can pay free agents any salary they want, assuming the embargoes are lifted.golfaddick said:So what happens to the 6 transfer embargoes already in place ? Do they get wiped clean once a new owner takes over ? If so, what's stopping a new owner paying peanuts for the club then spending millions on new players in January ?
Isnt that what Southampton did about 10/12 years ago ?They can appeal the fee restriction.0
