Joint Administrator Kris Wigfield has today released an update on the club’s current situation. It reads as follows:

To all Wednesday Fans,

With the January transfer window now closed, I wanted to give supporters a clear, honest update on where things stand and what the focus is over the coming weeks.

There’s no getting away from the fact that this has been a difficult period. Losing players you care about is painful, especially when the club has already been through so much. But it’s also important to step back and look at the full picture of what has been achieved since the Club entered administration — and what we are working towards.

What’s happened since administration

Since our appointment, the Club has moved from administration to the appointment of a preferred bidder in just over two months — a timeframe that compares very favourably with other football administrations.

During that period:

• All players and staff have been paid in full, on time, for four consecutive months.
• This has been achieved without using external funding, Season Ticket income or player sales at the outset.
• A £1m supporter loan was provided, not utilised, and has now been repaid in full.
• Matchday operations have stabilised and improved, with higher gate receipts and overall better revenue performance.
• The Club now has sufficient cashflow visibility to enable it to trade through to the end of the season under all reasonable scenarios.
• We have invested in IT systems, retail infrastructure, bar equipment and signage where this delivered a clear return.
• Around £350,000 has been spent on essential safety and remedial works to the North Stand roof.

All of the above being said, it remains imperative that the Club maximises matchday revenue in terms of ticket sales and spend for the remainder of the season. To that end, we have significantly reduced prices for the upcoming home games against Millwall and Southampton to attract as many fans into the stadium as possible. Your support is vital through this period and hugely appreciated by everyone at the Club.

Player movement in January

This window has been about managing risk, not dismantling the Club.

Barry Bannan

Barry left as a genuine modern great of Sheffield Wednesday — a captain, leader and servant to the Club through some very difficult years. Barry made his decision after careful consideration, and while painful, it is one we respect.

Bailey Cadamarteri  

Bailey Cadamarteri joined Wrexham AFC on a permanent transfer. He is a talented young player with a bright future. The decision was taken by the Administrators with input from the football staff, who were conversant with the need for the Club to trade prudently within the transfer window period.

Incoming Players

We have tried to give Henrik the maximum assistance we can within our own financial constraints and the EFL restrictions in place over the Club. We would like to welcome Murphy Cooper, Jaden Heskey, Jerry Yates, Tayo Adaramola, Joel Ndala and Marvelous Nakamba, who have all joined during this transfer window.

Preferred bidder & funding position

Following the selection of a preferred bidder, an exclusivity arrangement is currently in place between the preferred bidder and the Club. As part of the exclusivity arrangement, the preferred bidder has agreed to fund the Club’s forecast operating losses during the period of exclusivity.

This structure ensures the Club is able to continue to operate, fulfil its fixtures and pay staff on time, without placing additional risk on creditors of the Club.

Questions supporters are asking

Why sell players at all if we have a preferred bidder?

Insolvency law requires Administrators to plan for all reasonable outcomes. We must ensure the Club has the finances available to continue to trade under any scenario.

Is the takeover process still ongoing?

Yes. The sale of a football club in administration is a complex process involving numerous stakeholders and requiring various approvals – all of which takes time to work through. Rest assured, all sides are working in the timeliest manner possible.

During this period, the Administrators’ focus remains on running the Club responsibly, ensuring fixtures are fulfilled and staff are paid.

Are we selling players just to stay afloat?

As stated above, the Administrators need to plan for all scenarios. Ensuring the Club has finances available to continue to trade, fulfil fixtures and pay staff, without placing additional risk on creditors is responsible management and in keeping with duties as administrators.

Why do you not put Season Tickets on sale for next season instead of selling players?

Decisions around Season Ticket strategy – including pricing, structure and the placement of safe standing areas – are fundamental long-term choices that should properly be taken by the future owner of the Club, not during an administration period.

In addition, using next season’s income to fund this season’s operating costs would not represent good business practice and would be inconsistent with the professional and regulatory standards under which the Administrators operate. Our responsibility is to manage the Club prudently within the current season, not to pre-empt or constrain the decisions of the next owner.

Have the Administrators favoured one bidder or blocked others?

No. All interested parties were treated identically through a structured process and the offer we accepted was the highest we received. There was no guide price, the only financial constriction we put on potential purchasers was to supply proof of funding of a certain level to ensure the bidders had sufficient capital to complete the transaction.

Why don’t we receive more frequent updates, or more detailed information?

We understand how frustrating uncertainty can be, particularly when people care so deeply about the Club.

There are times during an administration and sale process where we are legally or commercially restricted in what we can say. Providing partial or speculative information can unintentionally cause confusion, undermine the process, or create false expectations.

Where we can provide meaningful updates, we will continue to do so. When we can’t, it is not because information is being withheld unnecessarily, but because protecting the integrity of the process – and ultimately the best outcome for the Club – must come first.

We remain committed to being as open as possible, and supporters will be updated as soon as it is appropriate and responsible to do so.

What happens next?

Our focus is to continue running the Club safely, support the staff, progress the transaction and exit administration cleanly.

Final word

Sheffield Wednesday is still here, still trading, still paying its people and still moving forward — even when decisions are hard.

This is an extremely tough period for everyone connected with the Club, but completing this deal will ensure that Sheffield Wednesday’s 159-year journey continues.

Thank you to our fans for your patience and support. Thank you to our players and coaches for continuing to give their best. Thank you to our staff for their continued hard work and unwavering loyalty.

Kris Wigfield
Joint Administrator
Sheffield Wednesday Football Club