BBC Sport
With Sheffield Wednesday set to be served with a winding-up petition over money owed to HMRC, fans are left wondering what happens next?
Could the club actually go out of business? Is administration more likely?
In terms of the immediate threat of liquidation, there are some things to consider. There is a new football regulator on the way who will be watching closely.
Per sources, the EFL are owed money – as are a group called New Avenue Projects. They are involved in a significant debt secured against Hillsborough Stadium.
It is unlikely that these creditors will allow the club to be wound-up.
When a winding-up petition is issued a court date is set which is likely to be four to eight weeks…
