Sheffield Wednesday is facing significant financial difficulties after the club was placed into administration and penalized with a 12-point deduction. This decision was made to prevent the club from potentially facing closure, akin to the fates of Bury or Macclesfield. Paul Stanley from Begbies Traynor, the firm that has temporarily taken over the club's management, explained that they currently control both the football club and the Hillsborough Stadium, with the goal of selling the club's package.

The administrators have full authority to make decisions without the involvement of the previous owner, Dejphon Chansiri. Their primary task is to find a new buyer for both the club and the stadium. This is crucial, as having a stadium is essential for the club's participation in the English Football League (EFL).

Despite the challenges, the atmosphere within the club remains positive, as players, staff, and fans welcome the new management. Potential buyers are being sought, and the process could take several months.

Club employees, including those off the pitch, will continue to receive their salaries as football creditors while a solution to the financial issues is sought. The administrators are urging fans to return to the stadium and support the team to help stabilize the club's financial situation.

As a sports journalist, I would say that now is the time for Sheffield Wednesday to rethink its strategy and inject new energy to steer the club back towards success. It is crucial to find a suitable owner with a vision for the future who can lead the team back to the Premier League.