EXCLUSIVE: Sheffield Wednesday are late filing their accounts again - this is why
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The accounts were due to be handed in by midnight on July 31 – five days ago – but have not yet been handed over.
The Star understands the delay is due to the ongoing arm wrestle over the club’s EFL charge of misconduct due the £60m sale of their Hillsborough stadium, which an independent commission ruled was wrongly included in the accounts for 2017/18 and last week saw the Owls slapped with a 12-point deduction heading into next season.
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Hide AdA statement from the club following the verdict indicated they were considering an appeal once they had seen the written reasons for the judgement, from which point they have 14 days to lodge any appeal. Any written response is yet to have been handed over to the club or the EFL.
Should Wednesday be successful in overturning any potential appeal it is likely that the sale of Hillsborough would stay within the 2017/18 accounts. Should the ruling stand it would most likely be included in the 2018/19 accounts.
The Star can confirm that the club has not been placed under any transfer embargo – the deadline passed is one for Companies House and not the EFL. Wednesday are understood to be in regular conversation with the EFL over the matter, which is not believed to be of concern to either party.
The July 31 deadline had been extended from the end of April thanks to an amended Government ruling over company accounts due to the coronavirus crisis.