Sheffield Wednesday opposes administration

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.”