Administration Staring Owls In The Face
The dark financial days at Hillsborough got that bit darker today with a fresh threat of administration - and it could happen in the next 24 hours.
Wednesday were due in the High Court today as they faced up to a winding-up petition over an unpaid tax bill to HMRC, which started at £550,000.
But the bill is reported to have risen to £1.1 million, meaning the Owls would have to borrow more money from their creditors, the Co-operative Bank, if they were to avoid administration.
BBC Radio Sheffield has today reported that talks between the club and the bank are on-going.
The relationship between the two has been a refreshingly good one in footballing terms, but this latest bill could test the Co-op Bank to the limit.
It means if the Owls don't caugh up the cash in the next 24 hours they could go into administration and be slapped with a ten point deduction.
More, no doubt, to follow throughout the day.