Owls Deny Administration Fears
Wednesday, and the Co-operative Bank, have issued a statement in response to last night's news that the club had been served with a winding-up petition by HMRC.
BBC Radio Sheffield and Look North both reported last night that the Owls owed an unpaid bill of around £500k to the taxman and had been issued with the winding-up petition.
But the club and the Co-operative Bank have acted quickly to ensure Wednesdayites that there's nothing to worry about, denying claims of administration.
The Owls statement, on the official club site, reads: 'Sheffield Wednesday would like to inform supporters that their Club is not about to be wound up, nor is it about to enter into administration.
'We have been involved in dialogue with HMRC for a number of weeks. As such we have been somewhat surprised and disappointed by their decision to seek a winding up order at this time.
'We understand that HMRC is taking a tougher line in general with football clubs, but feel their actions are disproportionate and will raise unnecessary speculation as to the financial position of the club.
'We can inform supporters that the Club, working in partnership with the Co-operative Bank and their advisors, will seek to settle this matter as soon as is practical.
'Furthermore, during a period of change this summer the bank has been an integral partner for Sheffield Wednesday. We will continue to work together to create the best environment possible for the club to move forward, including on-going dialogue with potential investors that will seek to secure the long term financial health of the club'.
A statement issued by the Co-operative Bank reads: 'It is disappointing to note that HMRC have presented a winding up order in respect of Sheffield Wednesday Football Club.
'The Co-operative Bank has been working extremely hard for some time with representatives of the football club and investors to explore ways to ensure its future stability.
'At present we are continuing to enter into dialogue with our advisers, Sheffield Wednesday Football Club and potential investors to explore solutions which will allow the club to operate on a sound and secure financial footing for the future.'
'The action by HMRC relates to an outstanding PAYE balance of £550,000.
'The Club has been informed that the petition will be heard in the High Court on August 11.'
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