Sheffield Wednesday news: Owls facing further woe as concerning financial update emerges

Sheffield Wednesday facing further woe as concerning financial update emerges

Sheffield Wednesday will be hoping to banish the memories of what was a truly dismal 2020/21 campaign by making a positive start to life in League One in August.

However, ahead of their return to the third-tier, the Owls are currently having to deal with a host of concerning off-the-field matters.

The Telegraph revealed last month that Wednesday had failed to pay the wages of their players for April whilst it was recently outlined that the club could decide to furlough their squad as they struggle to cope financially.

This particular update was followed by a report by The Star that suggested that a number of players at Hillsborough were considering handing in their notices due to these ongoing issues.

According to page 63 of the print edition of The Sun on Sunday, the Owls' squad have been encouraged by the PFA to submit claims for missing wages and bonuses.

It is understood that these players are owed up to £12m by the club and that a failure to pay them could lead to another possible points deduction.

Whilst Wednesday's displays in the Championship last season were extremely underwhelming, they weren't helped the fact that they were docked six points by the EFL for breaching Financial Fair Play rules in relation to the sale of Hillsborough.

Owner Dejphon Chansiri's inability to solve a cash flow issue also disrupted the Owls' progress in the second-tier as a wage-cap was briefly introduced in November.

With the club still under a transfer embargo, Wednesday manager Darren Moore will not be able to pay any fees for players this summer and thus will need to look towards the free agent market for inspiration.

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If this report turns out to be true, this is a huge blow for the Owls as the last thing they need heading into the upcoming campaign is another points deduction.

Chansiri's failure to run the club in a sustainable manner has directly led to Wednesday's woes and thus their supporters will have every right to feel dismayed at this latest update.

In order for the Owls to enter a new dawn, it could be argued that a change of ownership is needed as off-the-field matters continue to dominate the headlines at Hillsborough.

For Moore's sake, he will be hoping that this latest crisis is dealt with in a swift manner by Chansiri as he cannot afford to have any distractions ahead of what could be a crucial transfer window for Wednesday.

Read More - Everything you need to know about the summer transfer window!

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