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Sheffield Wednesday have been struggling financially for several months now, after a sustained period of poor financial decisions.
With their manager gone, an exodus of players leaving the club, and a crumbling North Stand leaving loyal fans with nowhere to even sit, it’s safe to say Sheffield Wednesday are a club in crisis right now.
This has left the club in a perilous position moving forward, with fans dreaming of Dejphon Chansiri selling Sheffield Wednesday for the future of the Owls.
While there is thought to be genuine interest from John Textor to take over the Owls, the theory is that Chansiri is making things difficult and resisting a sale of the club.
The EFL have made a statement about the current situation at Sheffield Wednesday but ultimately seem powerless to intervene as Chansiri passed their ownership test.
Chris Powell on the need for swift action
Former Sheffield Wednesday coach Chris Powell made an appearance on the Sports Agents podcast and warned that this could happen to another football club within six months.
Powell gave this warning more in hope that the new Independent Football Regulator (IFP) will start taking decisive action to stop other clubs from suffering the fates of Morecambe, Wigan Athletic and Reading in recent years.
He said: “People come in, they flash the cash, they pass their test. I know that the test has changed somewhat in the last 10 years.
“There’s now a regulator, but they really need to start banging heads now… It could quite easily be another Championship, League One, League Two club in six months’ time.”
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EFL clubs going out of business
There have been several examples in recent years of financial trouble and the crippling of clubs due to the poor management by owners.
It has seen the likes of Reading and Wigan Athletic coming close to the brink of going out of business, while there is still a chance this fate may fall upon Morecambe incredibly soon unless ownership changes hands.
Just under five years ago Bury FC were expelled from the Football League as they were put in administration and have had to restart in the English football pyramid after Gigg Lane was purchased by a fan group in February 2022 and the formation of a new club through the amalgamation of owners allowing them to compete in the 2023/24 season.
While this may be a positive for Bury FC, no fan wants to see their club go through this, and so it is why Powell has stated action needs to be taken quickly to stop other clubs potentially suffering this fate.