Sheffield Wednesday opposes administration

By Community | October 4, 2010

League One football club Sheffield Wednesday has said that going into administration will not solve the side’s financial problems.

Wednesday has been served with a second winding-up petition by Her Majesty’s Revenue and Customs (HMRC) over an outstanding bill of £600,000 (US$946,000).

The petition will be heard in the High Court on 17 November.

The club has debts of over £27 million (US$42.6 million) and chairman Howard Wilkinson and chief executive Nick Parker are currently negotiating with three potential investors.

A club statement read: “Ongoing talks with a lead investment party and others remain extremely positive. One investment group has pledged to pay HMRC £600,000 as a token of its commitment to concluding a deal at the club and we continue to monitor that situation.”