Monday, September 6, 2010

Wednesday facing administration

Sheffield Wednesday

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.


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.

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