BBC Sheffield understands there are interested buyers and that the administrators are already in active discussions and are also inviting formal offers from other credible potential investors.
Wigfield, a managing partner at Begbies Traynor, said: “The joint administrators have taken over the running of the club with immediate effect to protect the interests of creditors, and to ensure Sheffield Wednesday can continue operating while we seek a new owner as swiftly as possible.
“Like many football clubs, it has been trading at a significant loss for many years, with those losses historically funded by the owner. Mr Chansiri is no longer willing to provide that financial support.
“While the recent fan boycott has not directly caused the insolvency, it has increased financial pressure on the club. As a result, the owner has chosen to place the club into administration.
“Supporters are the backbone of any football club. The money they spend at the gate and in the ground is vital. I’ve been a season ticket holder since 1984 and know first-hand the passion of this fanbase.
“Now, more than ever, we need fans back in the ground – buying tickets, merchandise, pies and pints. Every penny spent will go directly to supporting the day-to-day running of this club, not to the former owner or professional costs. This will help stabilise the club while we secure a suitable buyer.”
Creditors of the club have been encouraged to contact the administrators to register a claim.
Stanley, one of the other joint administrators, said: “There should be no interruption to the fixture schedule and we are in close contact with the EFL to ensure the effects of this administration on the employees, supporters, the community and the players are minimised as far as possible.
“Sheffield Wednesday is a massive, historic club with a loyal fanbase in a city that lives and breathes football. If more fans return to Hillsborough, the club can cover its day-to-day costs and move towards a viable sale to a new ownership capable of restoring long-term stability.
“With the right ownership structure, we are confident the club has a bright future and will meet all EFL regulatory obligations.”
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