Begbies Traynor, Sheffield Wednesday’s administrators, have delivered their latest statement on club development, which includes both praise for fans and good news for their long-suffering players and staff. Sheffield Wednesday may still be in deep trouble at the bottom of the Championship, but the club’s administrators, Begbies Traynor, have issued a new statement this afternoon that updates fans on the club’s sale while also providing very good news for the financially troubled club’s players and staff. Wednesday went into administration on October 24th, and there has already been significant interest in purchasing them, with at least ten reporting proof of funding. Because EFL rules require clubs in administration to be advertised for sale for at least 28 days before a sale can be completed, there will be no confirmation of a sale for at least another seven days (and possibly not even then), but the statement confirms some fantastic news for those employed by the club. Sheffield Wednesday administrators’ statement praises fans for helping to put the club “on a sounder footing going forward”
The most recent statement by joint administrator Kris Wigfield, managing partner at Begbies Traynor, was issued at 14.00 on November 14th. Wigfield is understandably coy regarding the club’s sale situation, particularly the names of individuals who have expressed an interest in purchasing it, and advises fans to proceed with caution. “This discussion is to be expected for such a big club” , stated the release, “and as we quickly approach the end of the EFL’s compulsory marketing deadline it is likely to intensify” . He does, however, state that inquiries “have been well into the double figures from across the globe” and that these would be “thinned down to serious and viable bidders that can secure the long-term future of Sheffield Wednesday”. But he also discusses the club’s short-term position, which is very excellent news for the club’s staff. He confirms that the club is “on a sounder footing going forward” and singles out the fans for special praise for their contribution, saying that this “comes at a time when serious bidders will be examining the finances and analysing the potential of this historic club – we all think it is very important that the fans know what a huge difference they are making”. Most crucially, he affirms that “the efforts of the fans have not only meant that employees can be paid this month, but that November and December wages can be paid on time and ahead of Christmas”. Sheffield Wednesday fans’ actions have enabled the administrators to keep the club alive as a going concern.
Menu Football League World logo Official: Sheffield Wednesday drop new takeover update – it’s fantastic news for players and staff. Follow Like Thread Copy link to clipboard 4. By Ian King. 56 Minutes ago Begbies Traynor, Sheffield Wednesday’s administrators, have delivered their latest statement on club development, which includes both praise for fans and good news for their long-suffering players and staff. Sheffield Wednesday may still be in deep trouble at the bottom of the Championship, but the club’s administrators, Begbies Traynor, have issued a new statement this afternoon that updates fans on the club’s sale while also providing very good news for the financially troubled club’s players and staff. Wednesday went into administration on October 24th, and there has already been significant interest in purchasing them, with at least ten reporting proof of funding. Because EFL rules require clubs in administration to be advertised for sale for at least 28 days before a sale can be completed, there will be no confirmation of a sale for at least another seven days (and possibly not even then), but the statement confirms some fantastic news for those employed by the club. Sheffield Wednesday administrators’ statement praises fans for helping to put the club “on a sounder footing going forward” Sheffield Wednesday vs. Norwich City at Hillsborough The most recent statement by joint administrator Kris Wigfield, managing partner at Begbies Traynor, was issued at 14.00 on November 14th. Wigfield is understandably coy regarding the club’s sale situation, particularly the names of individuals who have expressed an interest in purchasing it, and advises fans to proceed with caution. “This discussion is to be expected for such a big club” , stated the release, “and as we quickly approach the end of the EFL’s compulsory marketing deadline it is likely to intensify” . He does, however, state that inquiries “have been well into the double figures from across the globe” and that these would be “thinned down to serious and viable bidders that can secure the long-term future of Sheffield Wednesday”. But he also discusses the club’s short-term position, which is very excellent news for the club’s staff. He confirms that the club is “on a sounder footing going forward” and singles out the fans for special praise for their contribution, saying that this “comes at a time when serious bidders will be examining the finances and analysing the potential of this historic club – we all think it is very important that the fans know what a huge difference they are making”. Most crucially, he affirms that “the efforts of the fans have not only meant that employees can be paid this month, but that November and December wages can be paid on time and ahead of Christmas”. Sheffield Wednesday fans’ actions have enabled the administrators to keep the club alive as a going concern. Sheffield Wednesday vs. Norwich City at Hillsborough This year, the challenge of getting Sheffield Wednesday’s wages paid on time has remained a constant. This occurred five months before the club went into administration. The EFL takes a poor view of this, and it was one of a number of factors that contributed to the club’s harsh transfer embargo, which prevented them from bringing in new players at the end of the summer transfer window. This resulted in additional consequences. When salaries were not paid on time this summer, the club lost its two leading goalscorers from last season, Josh Windass and Michael Smith, to Wrexham and Preston North End, respectively, after the players used FIFA rules to leave. When Begbie’s Traynor took over as administrators, one of the first things they declared was that they required supporters to contribute to ensure that they could continue trading. The club cannot incur further debt under administration, therefore players and personnel can only be paid from funds received. The fans reacted swiftly, spending almost £200,000 in the club shop and purchasing an additional 9,000 tickets for their home game against Oxford United. In total, 27,261 people attended the Oxford match, and after another rallying call prior to their home match against Norwich City on November 5th, 28,156 people showed out to witness a 1-1 draw. Wednesday’s next home fixture is the Steel City Derby against Sheffield United on November 23rd. This is not simply a local derby, but with United third from bottom in the table, it might also be crucial for the Championship’s bottom half. Hillsborough will undoubtedly be filled to the rafters for this critical match. The administrators’ most recent announcement confirms that employees would be paid on time in November and early in December. Not all gamers, and certainly not all staff, are affluent enough to tolerate late payments, thus this will be quite beneficial to them. And with this level of security, everyone, whether a player or a member of the backroom staff, will be free to go about their business without worrying about it. Had Wednesday not achieved this level of relative financial certainty, the EFL might have imposed additional sanctions, including expulsion. The significance of this money entering the club cannot be emphasized. A multi-millionaire will eventually buy Sheffield Wednesday, but there is a strong case to be made that the fans have saved the club by their activities since the club went into administration. Statement in full Kris Wigfield, managing partner of Begbies Traynor and joint administrator of Sheffield Wednesday FC, has issued a statement. Many Championship fans’ attention goes away from club football during the international break, but as we continue to work toward a successful sale, Wednesday fans are in a completely different situation. Many people will have been paying careful attention to the ongoing media discussion about potential buyers’ identities and numbers. This discussion is to be expected for such a large club, and as the EFL’s required marketing deadline approaches, it is sure to intensify. However, we expect to see concrete offers made shortly as queries from all over the world are whittled down to genuine and credible suitors who can safeguard Sheffield Wednesday’s long-term future. During this stage, even more patience will be required. In the short term, the fans’ actions have meant that staff can be paid this month, as well as November and December wages, which will be paid on time and ahead of Christmas. This puts the club on a stronger footing for the future and comes at a time when serious bidders will be evaluating the finances and analyzing the possibilities of this historic club – we all believe it is critical that the fans understand what a significant impact they are making. Until a sale is completed, we will continue to work hard to do what is right for the club, its staff, and its fans, keeping in touch whenever feasible with any important updates.
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