Tag: Sheffield Wednesday

Match Of The Week 2: Southampton 2-0 Sheffield Wednesday

With just two wins in their last fifteen matches, this season has turned sour on the pitch for Sheffield Wednesday. Earlier on this season, the team seemed to be defying the clubs financial position and looked as if they may have a reasonable chance of a play-off place or better at the end of this season. Coinciding almost exactly with Milan Mandaric’s purchase of the club for £1, however, their form has collapsed. Their last win at Hillsborough was on the eleventh of December, a 6-2 win against another club at the start of a dramatic slump in form, Bristol Rovers. Since this, their results have taken a look to them that has occasionally looked bizarre. They’ve had to endure a 5-1 defeat at Exeter City, a 4-0 defeat at Leyton Orient as well as conceding four goals at home to both Peterborough United and Plymouth Argyle. This wasn’t supposed to be the outcome of Mandaric’s take-over at Hillsborough. Against this background, it is hardly surprising that Wednesday are one of the many clubs this season to have parted company with their manager. Alan Irvine was relieved of his duties at the start of February but Wednesday’s form hasn’t improved a great deal under the tutelage of his replacement, Gary Megson. There has to come a point at which this must be arrested. Wednesday are, at the start of...

Read More

2010: A Football Financial Review

You could frame it. If you wanted a short, pithy representation of all that has been wrong with football finance in 2010, you could do no better than quote a Plymouth Argyle fan known as “Sensible Surfer” on the BBC Football website over the Christmas period. “Ridsdale set to take control… good news,” he/she said, a phrase which would sit nicely as an explanation of irony…except that it didn’t appear to BE irony. And it served as fair comment on Argyle’s current state that, relatively, Peter Ridsdale – the failed former Leeds and Cardiff chairman and serial over-borrower – IS good news for the cash and panic-stricken South Westerners, with the heaviest possible emphasis on the word ‘relatively.’ If professional football entered 2010 in a state of moral and financial bankruptcy, it is leaving it in much the same manner. Certain football problems have been “solved.” Some more have emerged. While others, hello Portsmouth, look set to run forever. The “greater fool” theory still underpins much of the game’s financial strategies. The theory is about as scientific as it sounds – buying something in the belief that you will be able to sell it again for a higher price (to a “greater fool”), regardless of what has happened in the meantime (increased debts, usually), or even whether the original price was rooted in reality. Finding a “greater fool” is...

Read More

Wednesday Weakness

Now that Sheffield Wednesday’s takeover is imminent, it is instructive to look in detail at some aspects of the tale. There is no doubt that the vast majority of the cast have been playing games of some sort while the club has sunk further into the financial mire. Chief Executive Nick Parker may have been shaking with anger at some of the when he stood outside London’s High Court last Wednesday. But even he played a game or two in his time. People such as former director and friend of the current board Mick Wright are doing their best to let the games continue, now that the threat of administration has been averted for yet another bit. And there was a curious little background twist a couple of weeks ago, shortly after the consortium fronted by former Wednesday player/manager/you-name-it Chris Turner began to unravel. The Sheffield Wednesday Shareholders Association had an idea. And on November 2nd they “urgently” proposed the following “solution” to Wednesday’s woes: “We would like to call on all four major shareholders of Sheffield Wednesday Football Club (Wednesdayite, Keith Addy, Geoff Hulley and Dave Allen) to pool their shareholding and make these available to any investor approved by the Bank and prepared to pay a minimum of £600,000 to HMRC.” £600,000 was the money being petitioned for by the tax authorities in those long-ago, happier times....

Read More

Sheffield Wednesday Go To The Wire

Monday came and went, and nothing happened. Tuesday has now come and gone, and nothing has happened. The future of Sheffield Wednesday Football Club hangs by a knife-edge, with the club having apparently made the enormously high risk decision to not put the club into administration (which would protect them from the winding up order that HMRC have presented) and to attempt to buy themselves a little time at the High Court instead. They claim to have four parties interested in buying the club – although it is worth pointing out that the Certified Oil Rentals group, which was involved in talks that collapsed recently, is not amongst them – but this will be enough the persuade the registrar that they deserve another break? It is worth quickly remembering what has happened to Sheffield Wednesday since the start of this season. In brief, they have already survived one winding up order after the Co-operative Bank, in a display of supreme co-operation, paid off the amount of money – £600,000 – owed to HMRC. That option is not there for the club this time. The bank was acting in its own interests in paying off this amount of money for the club, and it has evidently decided that this is not action that it can continue to take to prop the football club up. The proposed take-over bid by Certified...

Read More

FA Cup Match Of The Week Part Three: Southport 2-5 Sheffield Wednesday

It’s Sunday morning, and some of those that have travelled from South Yorkshire to the Lancashire coast could be forgiven for nursing sore heads. In Sheffield Wednesday’s recent history there hasn’t been a great deal to smile about, and things may yet get more difficult for the club before they get any easier. They could well be in administration in the next ten days or so and, set against such problems, a trip to Southport to play the Blue Square Premier side in the First Round of the FA Cup surely falls into the category of being just about the last that the club needs at the moment. Wednesday have failed to win their last three league matches and, with League One being such a tight division this season, this has meant a drop to tenth place in the table. The niggling suspicion, however, is that they will have bigger fish to fry than this match over the next couple of weeks. Southport FC have a story of their own to tell, of course. They were the last club to be voted out of the Football League, replaced by Wigan Athletic in 1978, and a year later missed out on a place in the newly-formed Alliance Premier League. They finally made it into non-league football’s top division (which, by this time, had been rebranded as the Football Conference) in...

Read More