Football

Owls have no administration fears

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Sheffield Wednesday chairman Lee Strafford has claimed the club's bank will not allow them to fall into administration.

Strafford has also revealed Wednesday, who have reported debts of £26 million, are still in takeover talks with American investment group Club 9.

He told BBC Radio Sheffield: "The Co-op bank won't drop us into administration. They would lose money in that arrangement versus the club being run properly, being progressive and a good owner coming in."

Strafford added: "Club 9 are in the middle of negotiations with the Co-op bank. There's meetings happening in the next week or so and they might even be at the game on Saturday.

"They're going to be taking the air or seeing what Sheffield Wednesday is all about. Between now and when they get a deal done, we've got to drive this football club forward."

Strafford confirmed the Owls required average attendances of at least 24,000 to break even and that would apply even if they were relegated to League One for next season.

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Topics:
Sheffield Wednesday
Football
Championship

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