CRISIS club Sheffield Wednesday could be at risk of losing their EFL membership amid a tumultuous season.
The Owls were in October during a disastrous campaign that has seen them .
Sheffield Wednesday could be at risk of losing their EFL membership
Sheffield Wednesday are facing an extra 15-point deduction ahead of next season
Wednesday are currently buried deep at the bottom of the table with a shocking total of -6 points.
The historic club was deducted a total of 18 points this season for going into administration and further financial breaches.
And now the Owls for next season in the third tier, despite being close to a takeover – with Arise Capital Partners announced as the new preferred bidder.
The issue is that Arise’s offer would not meet the EFL’s requirement to repay creditors 25p in the pound, which would mean Wednesday starting life back in League One with a significant handicap.
Their main creditor Dejphon Chansiri is understood to have loaned the club £60million in more than a decade as owner, and must be paid back £15m of that if the Owls are to avoid a points hit.
However, the suggested there could be even more trouble for Wednesday if they don’t meet necessary requirements of the Insolvency Policy.
The EFL’s chief operating officer Nick Craig said: “The League want to see continue as a member of the EFL, but ultimately we have to also apply the terms of the League’s Insolvency Policy.
“The policy, of which has been agreed with Clubs and is there to act as guidance for all Clubs and insolvency practitioners, seeks to balance the interests, not only of Sheffield Wednesday, but also of the other 71 Clubs in the EFL.
“We remain open to continuing the conversations with the preferred bidders and the Administrators to try and find a solution that can see Sheffield Wednesday continue as a member of the League.”
Sheffield Wednesday’s takeover is now subject to EFL scrutiny.
An EFL statement released on December 19 read in part: “On exit from Administration, the League will agree an appropriate business plan to enable the Club to move forwards.”
Eze Chidiebere Paul
I'm dedicated to creating high-quality content that informs, inspires, and delights. If you have any questions or suggestions, don't hesitate to get in touch. Happy reading!
