‘Living Hand-to-Mouth’: How Wednesday Fell to -6 Points

Sheffield Wednesday’s “hand-to-mouth” existence, which saw the club lurch between financial crises, has ended in administration and a 12-point penalty. The club, now on -6 points, has been using any income, such as Premier League solidarity payments, just to deal with immediate debts.
The situation, “deteriorating sharply” since summer, saw former manager Danny Röhl and key players leave over unpaid wages. The club started the season with just 15 first-team players and owes $pounds{}$1 million to HMRC.
Owner Dejphon Chansiri, facing an imminent winding-up petition, placed the club into administration. This ends his tenure, a move fans are “overjoyed” about, calling his “financial mismanagement” the root cause.
Manager Henrik Pedersen, who has been managing the crisis, called it a “fresh restart.” He told “emotional” staff that he sees a “bright future” despite the “sad situation.”
Administrator Begbies Traynor is now in control, marketing the club and stadium as a package. The Supporters Trust is now calling for a “phase of renewal,” urging boycotting fans to return and provide the “stability and income” the club needs to survive.