Update on progress with Sheffield Wednesday accounts deadline rapidly approaching

The deadline has come around quicker this year compared to those submitted in recent seasons played out in the Championship as the deadline differs for clubs operating in League One or League Two.

As per EFL regulation 16.2, Championship clubs are given until the March following the end of the financial year of said accounts to publish to the EFL before they face possible punishment. Clubs in the two divisions below that must submit on the same date as the Companies House deadline, which is July 31.

With financial penalties for handing over accounts to Companies House relatively small in business terms, Championship clubs including Wednesday have often published later than the deadline put in place put in place by Companies House.

In football terms, it is the EFL sanction clubs seek to avoid. Such sanctions can include transfer embargoes, though they can also be far less stringent depending on the length of time taken to submit.

Owls chairman Dejphon Chansiri maintained at a recent fans forum that he was confident that the club would be able to satisfy that July 31 deadline.

Vitally, while as of Thursday lunchtime it is understood that their accounts had yet not been submitted, The Star understands that that confidence remains that the club will hand over the accounts to both bodies in the coming days, successfully and on time, thus avoiding threat of sanction.

As per Companies House, Wednesday have recently changed auditors - following the retirement of previous auditors - which could in theory have stood to extend the audit process.

The publication of the accounts can take a few days from official submission. Once published, they will provide a clearer idea of Wednesday’s financial landscape and standing in terms of Profit and Sustainability regulations.

At the same fan forum, Chansiri described losses of around £10m in both seasons they spent in League One, a steep drop in previous seasons heavily impacted by the difficulties of the Covid-19 pandemic.