It is no secret that Sheffield Wednesday’s current financial position needs improvement.
The Owls were put under a transfer embargo in the summer after they failed to comply with the Financial Fair Play regulations.
And, it appears that they could be facing another one in the near future if things do not improve.
Owner and chairman Dejphon Chansiri released a statement on the club’s official website detailing the possible sanction they face, however, he did stress that the club were not under any embargo for the time being.
“At fans’ forums and Steering Group meetings, I have warned of the problems we will face with the Profitability and Sustainability regulations if we did not get promoted. The same is true as I write today. Unless we achieve promotion this season, we will again experience problems. I said it then and I say it now because I do not wish for bad surprises for our supporters. I wish to say it how it is and that way it is clear on both sides,” he said.
“To make our situation 100% clear, we are not under any kind of embargo right now. However, if our problems cannot be solved by March when we submit our accounts to the EFL, another soft embargo is inevitable. This will become a full embargo if again the problems cannot be solved at the end of the financial year.”
Sheffield Wednesday certainly find themselves in a sticky mess and one that supporters would have hoped they could have avoided.
With promotion looking unrealistic at the moment, it would appear that Steve Bruce and Chansiri have their work cut out for them in the coming months.
The honest from the owner towards the fans is refreshing, but things will certainly need to improve if the club are to save themselves from any further issues.
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