The crisis is not over at Sheffield Wednesday. Former owner Dejphon Chansiri is largely blamed for the embarrassing situation the traditional club finds itself in, where the EFL throws one point penalty after another at the club, due to financial mess out of this world. The club is under administration and heavily indebted to its creditors, which is why they have played this Championship season with an 18-point penalty and risk ending up with minus points. Next season also starts with heavy loads to carry.
Arise Capital Partners has been interested in buying The Owls, but new obstacles have now arisen in the attempt to take over the club. Thus, the Americans, led by David Storch, have been informed that their bid, which according to the BBC is around £19 million, represents only a fraction of the amount required for unpaid creditors required to avoid a points penalty.
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“We have now been informed that a penalty of 15 points will be imposed at the start of next season. We fundamentally disagree with this decision. What makes this situation particularly difficult is that it is completely unique. A significant part of the club’s debt lies with the previous owner, who has not agreed to write down or restructure that debt,” Storch explains to the BBC.
First relegation to League One, then the start of the season with -15 points. Sheffield Wednesday supporters are facing some leaden seasons of clean-up.
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