English club Sheffield Wednesday, playing in the Championship, has faced serious financial problems.
According to Sky News, the team was docked 12 points following the announcement of bankruptcy.
The reason was financial instability, a five-month delay in salary payments to players and staff, and unsuccessful attempts to sell the club. Previously, Sheffield Wednesday had already faced fines and a ban on registering new players.
The problems began when Dejphon Chansiri, a Thai businessman who acquired the club in 2015, was accused of violating EFL regulations. The Owls failed to pay a tax bill amounting to about £1 million. Chansiri has already stepped back from his duties, handing everything over to external administration.
It is reported that bankruptcy is intended to help the new management during the process of rescuing the club from complete collapse.
The Owls are currently in last place in the Championship with −6 points, trailing 15 points behind the safety of the 21st place.
Reminder: Sheffield Wednesday was founded in 1867 and is one of the oldest football clubs in England. Throughout its history, the Owls have been champions of England four times, won the national Cup three times, and each the League Cup and Super Cup once.