"The Championship outfit were placed in administration in October and a preferred bidder was appointed in December. The preferred bidder is now funding the club's forecast operating losses during the exclusivity period. It has also been revealed that since the administrators took over, an unused 1m supporter loan has been repaid in full, and about 350,000 has been spent on essential safety and remedial works to the North Stand roof."
"and are on a club-record run of 23 league matches without a win. Long-serving captain Barry Bannan and young striker Bailey Cadamarteri left for Millwall and Wrexham respectively during the January transfer window. The administrators have said that, while money from player sales was not essential to keep Wednesday afloat, they "must ensure the club has the finances available to continue to trade under any scenario"."
Administrators confirm Sheffield Wednesday has sufficient funds to operate through the end of the season. The club entered administration in October and a preferred bidder was appointed in December. The preferred bidder is funding forecast operating losses during the exclusivity period. An unused 1m supporter loan has been repaid in full and about 350,000 has been spent on essential safety and remedial works to the North Stand roof. The club sits 39 points adrift at the bottom of the Championship after two points deductions and a 23-match league winless run. Barry Bannan and Bailey Cadamarteri left in January. Administrators say player sales were not essential but finances must cover all scenarios. The Owls visit Blackburn next.
Read at www.bbc.com
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