Sheffield Wednesday administration should ‘serve as mirror to elements of football governance culture’
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It has been announced that Sheffield Wednesday has been placed in administration.
Commenting, Aaryaman Banerji, Head of Football Governance at LCP, said:
“This is the latest turn in what has become a protracted and unsavoury saga. The financial challenges at Sheffield Wednesday, and crisis of ownership, have been laid bare for some time. Whilst a football club being placed into administration is always disappointing, this does at least provide an opportunity for Wednesday to break away from the circle of toxicity in which the club has become engulfed.
“The administration process ensures that the club’s owner, Dejphon Chansiri, relinquishes control of the sale process, and raises hopes of the prospect of a takeover within a reasonable timescale. Whilst it is true that the 12-point deduction handed down by the EFL will cause significant short-term challenges, a fresh ownership regime gives the club the best chance of long-term stability. The entire scenario, however, should serve as a mirror held up to elements of the financial and governance culture within the football industry, and provoke some introspection amongst stakeholders, not least the Independent Football Regulator.”
