Sheffield Wednesday could be forced into administration in the next 24hrs
Tue 7th Sep 2010 | Football Club Administration
Sheffield Wednesday Football Club look likely to be forced into administration in the next 24 hours unless they can pay a tax bill of £1.1m.
Speaking to BBC Radio Sheffield sources close to the club confirmed that last-minute talks are continuing with their bank.
However there are real fears that fresh money will not be made available to pay off the debt.
The club faced a winding up order over an unpaid tax bill of £550,000 two months ago when an agreement was met and the case adjourned
Now Sheffield Wednesday are due before the High Court in London on Wednesday with the amount owing to HM Revenue & Customs having risen to £1.1m.
So far the club's bankers, the Co-op Bank, have refused to release any extra cash to meet the new debt.
The league leaders would be deducted 10 points if they do enter administration.
It might also have an impact on the club's ambitions to host World Cup matches in 2018 should England win their bid to stage the tournament.
Wednesday were relegated from the Championship last season and the club estimates this has already lost them more than 20% of last year's income.
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