MattP

This *should* enable fans to attend the game and spend freely tomorrow. Any revenue will go towards the administrator's costs of running the club.

This is why they'll do it:

Well, there's a reason it hasn't happened before. Who's to say that a sale is agreed smoothly? The ground is owned separately which could be a stumbling block to an easy sale. It's a risk that HMRC don't *need* to take if they can guarantee to recoup their money via another method. The heritage and importance of the club doesn't register for them. I don't think HMRC will bail us out this way. The WUP puts pressure on the owner to sign the admin papers. We need the penny to drop for him that it's his only option to recoup anything now.

Because their sole remit is to collect tax owed and in the most cost effective way for the taxpayer. If they put us into administration that will incur extra cost and create an additional risk for them, it's far cleaner to liquidate the club and recoup the tax owed.

They don't put clubs in admin, however. They proceed to the winding up order. Every previous example of a club going into administration following a winding up petition is because the owner volunteers to do so, knowing it's the only alternative to liquidation.

I'm guessing it won't be Textor then ... https://www.bloomberg.com/news/articles/2025-10-17/textor-loses-key-uk-ruling-in-93-million-clash-with-iconic?embedded-checkout=true

Please correct me if I'm wrong, but if DC is refusing to sign the paperwork, we're not going into administration anytime soon. The process takes a number of weeks according to the below and only happens at the Court stage if someone other than the owner is petitioning for it. There is no previous example (as far as I can see) of HMRC putting a club into administration. The use the winding up petition as a way of leveraging pressure on the owner to put the club into administration.

I hope you're right. I'm assuming there will be chunky legal costs involved though, which may deter smaller creditors.

Agreed. And I don't think we can rely on smaller creditors to take us into administration. I think DC has to do it or it doesn't happen.

The question is, are there any creditors who will take us down this route?

Interesting. I think this is the point that is unclear for most of us. Some think that HMRC will put us into admin and then the buying bun-fight happens. I can't see any previous example of HMRC putting a club into admin; they issue a winding up petition and that forces the owner's hand to put the club into admin. But if the owner is pig-headed/clinically insane and doesn't budge, I assume they proceed with winding up and ultimately liquidation?

I'm paraphrasing this but a friend who speaks to someone at the Trust was told earlier that DC is being advised to put the club into admin but is (currently) 'refusing to sign the paperwork'.

I think so, yes. It's incumbent upon Chansiri to put us into admin, and he if he doesn't do that then liquidation is a very real prospect.

https://www.dailymail.co.uk/sport/football/article-15197733/Crisis-club-Sheffield-Wednesday-just-days-winding-order-tax-bill-paving-way-hated-owner-Dejphon-Chansiri-sell-up.html The end could really be nigh.