Sheffield Wednesday F.C., one of the oldest football clubs still in active (second oldest overall in England), founded in 1867, has filed for administration, declaring insolvency. The club owner since 2015, Dejphon Chansiri, was charged with breaching financial regulations from the EFL (English Football League) last June. Fans have been protesting against the owner, a Thai magnate owner of the largest producer of canned tuna, as it has brought financial ruin to the club (via Sky News).
The failure of the club to fulfil their staff and players resulted in the departure of several players as well as their manager, Danny Rohl, now at Rangers. The club is now administrated by Begbies Traynor, a firm specialised in corporate restructuring, and will focus on rescuing it from their huge debts.
Sheffield Wednesday, nicknamed The Owls, is currently at the bottom of the Championship table, second division in English football, having last played in top flight in 2000. Following the filing for administration, they will be deducted 12 points in the league, which would leave them 13 points behind the second worst team in the league, Blackburn Rovers.