Owls £23mil in the red

  • Other Sport
  • Saturday, 14 Feb 2004

LONDON: English Second Division club Sheffield Wednesday are more than £23mil (US$43.53mil) in debt, according to the latest accounts for the year ending May 2003 released on Thursday. 

The club said the loss of revenue from both the defunct pay-TV service ITV Digital and Premier League 'parachute payments’ following relegation from the top flight in 2000 were the main factors behind an operating loss of £7mil. 

Wednesday, who have a proud history with four league titles and three FA Cup successes up to 1935, have fallen on hard times since their League Cup final victory over Manchester United in 1991 under manager Ron Atkinson. – Reuters  

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