The 2025–26 season was the 158th season in the existence of Sheffield Wednesday, and the club's third consecutive season in the Championship. In addition to the domestic league, the club also competed in the FA Cup and the EFL Cup.
Wednesday endured a disastrous season, primarily due to financial woes brought about by the mismanagement of owner Dejphon Chansiri. The club entered administration in October and was deducted 12 points as punishment. They were deducted a further 6 points in December for additional late payments, bringing their total penalty to −18 points.
Wednesday's performance on the pitch was likewise unprecedentedly poor. They finished the regular season with two wins, a record low in Championship history. Combined with the 18-point penalty, Wednesday finished with 0 points, the lowest points total in the history of English football.
Season overview June On 3 June, the club and owner Dejphon Chansiri were charged with multiple breaches of EFL Regulations relating to payment obligations by the EFL.
On 4 June, local MP Clive Betts called on Chansiri to sell the club.
On 5 June, the club were placed under a registration embargo.
On 16 June, Sheffield-born businessman Adam Shaw, said he had had two bids for the club rejected worth up to US$75m.
On 17 June, former owner Milan Mandarić says he would attempt to buy back the club.
On 18 June, the EFL placed the club under a three-window fee restriction ban after exceeding 30 days of late payments, with the club confirming they would be appealing.
On 23 June, American businessman John Textor was linked with buying the club.
On 25 June, Milan Mandarić released a statement saying he was no longer pursuing a return to the club.
On 26 June, Chansiri confirmed he was willing to sell the club and looking for investment from new parties.
On 27 June, the club were placed under a further embargo by the EFL, over amounts owed to HM Revenue and Customs.
On 30 June, it was revealed that players and staff hadn't been paid for the second month in a row and for the third time in four months.
July On 1 July, several players handed in their 15-day notice, following the June wages being delayed.
On 2 July, Maheta Molango of the PFA called the situation at the club "shocking" and "not tolerable."
On 3 July, the club were placed in a triple embargo due to money Wednesday owed to Southampton and Norwich City for fees towards players Shea Charles and Akin Famewo.
On 11 July, American businessman Tilman Fertitta was linked with buying the club.
On 14 July, it was revealed money was still owed to Hull City for the transfer of Mallik Wilks.
On 15 July, Wednesday confirmed their new home strip for the 2025–26 season as well as Mr Vegas as their new front of shirt sponsor for the 2025–26 season.
On 29 July, Sheffield City Council issued a prohibition notice, reducing the North Stand's capacity to 0.
On 30 July, it was revealed that players hadn't been paid for the third month in a row and for the fourth time in five months.
August On 1 August, the EFL said they were increasingly concerned about the future of Sheffield Wednesday and their ability to fulfil their Championship fixtures this season.
On 5 August, Wednesday confirmed their new away strip for the 2025–26 season.
On 6 August, the EFL issued a statement, saying they were deeply concerned and frustrated by the ongoing and developing challenges at the club, with the current owner needing to either fund the club meeting its obligations or make good on his commitment to sell to a well-funded party, for fair market value – ending the current uncertainty and impasse. They also confirmed that proceedings against the Club and Chansiri, announced in June, remain ongoing, however because they have now surpassed 30 days of late payments for the year beginning 1 July 2025 the fee restriction ban has been extended to the end of the winter transfer window in the 2026–27 Season, as well as well as being placed under a further embargo for non-payment of players.
On 7 August, Wednesday confirmed their season squad numbers.
On 8 August, had their transfer embargos lifted after paying outstanding debts for players and transfer fees, but remained under a transfer-fee ban and are still bound by a business plan set out by the Club Financial Reporting Unit.
On 10 August, Wednesday confirmed their new third strip for the 2025–26 season.
On 13 August, Sheffield City Council lifted the Prohibition Notice previously in place for the North Stand meaning the stand would be open for their first home game of the season.
On 15 August, it was reported that unless Chansiri could give the EFL assurances that players and staff can be paid, they will not be able to sign anyone despite not being under any registration embargo.
On 28 August, staff and players were told they were expected to be paid on time, the first time since April.
September On 4 September, the Wednesday fans protested Chansiri outside the Thai embassy in London.
On 17 September, Wednesday were placed under two more embargoes for future financial information and secure funding linked to an inability to prove that the club can be funded going forward.
On 25 September, the club were placed under a further embargo by the EFL, over amounts owed to HM Revenue and Customs again.
On 26 September, the club were placed under a further two embargoes, so five in total, this time for football creditors and amounts due to another club.
On 29 September, senior players and staff were told not to expect wages on payday, the fifth time that calendar year.
October On 4 October, the match against Coventry City was delayed due to a fan protest on the pitch against the owner.
On 6 October, the club were hit with their sixth embargo after failure to pay players on time.
On 9 October, new chair of the Independent Football Regulator, David Kogan said Sheffield Wednesday's struggles are a "significant problem" and the new football regulator is seeking powers to investigate clubs in such situations. Unite the Union also issued a statement against Chansiri, for his continuous failure to pay non-football staff.
On 14 October, it was confirmed that the players and non-playing staff received the rest of their September wages removing one of their six embargoes.
On 16 October, it was reported that HMRC are close to issuing a winding-up order due to an unpaid tax bill of around £1m.
On 19 October, long-term physio Antonio Quintela left the club in October to join Premier League side Nottingham Forest.
On 22 October, the fans boycotted the fixture against Middlesbrough.
On 24 October, Julian Pitts, Kris Wigfield and Paul Stanley of Begbies Traynor were appointed joint administrators of Sheffield Wednesday Football Club Limited and of Sheffield 3 Limited, the company that owns Hillsborough stadium. On entering administration, the club were given a 12-point deduction by the EFL.
On 28 October, American billionaire John McEvoy was linked with buying the club.
On 30 October, players and staff were paid a day early, following huge fan backing after administration.
November On 1 November, former Newcastle United owner Mike Ashley was linked with buying the club.
On 8 November, Staysure founder Ryan Howsam was linked with buying the club.
On 12 November, Wednesday paid their outstanding transfer fee debts meaning their number of embargoes was down to four.
On 21 November, the Sheffield Wednesday Supporters Trust became the short sponsors for the rest of the season.
On 25 November, the owners of Sheffield United, COH Sports, were rumoured to be among 80 parties looking at buying the club, with potentially merging both clubs.
On 26 November, it was reported Mike Ashley had bid £20m for the club.
On 28 November, FC Midtjylland owner Anders Holch Povlsen was linked with buying the club, whilst Simon Jordan had been interested but wouldn't be going forward with an offer.
December On 1 December, Sheffield Wednesday were deducted a further six points with immediate effect for multiple breaches of EFL regulations relating to payment obligations, with the club's former owner, Chansiri, prohibited from being an owner or director of any EFL club for a period of three years. They also confirmed that they were not seeking any further point penalties and remained in discussions over their transfer fee restrictions.
On 3 December, Ryan Howsam confirmed he was interested alongside Simon Jordan, and they were both out of the running in buying the club.
On 5 December, it was reported John McEvoy and the Storch family had joined forces in their attempt to purchase the club.
On 6 December, the match against Blackburn Rovers was abandoned on the 60th minute due to a waterlogged pitch.
On 14 December, it was reported that James Bord, alongside John Colquhoun and other individuals from Europe and either side of the Atlantic were interested in buying the club, and were among the final three parties, with Mike Ashley and the joint McEvoy/Storch being the other two parties still in contention.
On 19 December, Joel Akpobi signed a two-year scholarship following a successful trial.
On 24 December, David Storch confirmed he'd made an offer the previous week, but was partnering with Tom Costin of Owl Ventures. Later that day, the administrators confirmed that they intended to grant preferred bidder status to a consortium following the conclusion of the initial bidding process, which was believed to be the James Bord bid.
January On 6 January, three individuals of the preferred consortium were announced as James Bord, Felix Roemer and Alsharif Faisal Bin Jamil.
On 30 January, Liam Palmer was appointed the new club captain following the sale of Barry Bannan.
February On 22 February, they were relegated to League One following the 1–2 defeat in the Steel City derby against Sheffield United, breaking the record for earliest ever relegation in the English Football League.
On 24 February, it was reported that head of recruitment, Kevin Beadell, would be leaving the club at the end of the month with the preferred bidders, taking on responsibility once their offer was ratified.
On 25 February, the consortium led by James Bord, Felix Romer and Abdullah Faisal Bin Jamil withdrew their bid of £47.8m to buy the club.
March On 1 March, it was confirmed by manager Henrik Pedersen that head of recruitment Kevin Beadell would now be staying following the James Bord consortium pulling out of a deal to buy the club.
On 3 March, it was reported that Charlie Methven was interested in purchasing the club.
On 10 March, it was reported there were three offers to buy the club, with David Storch the leading contender, with the other offers from Mike Ashley and Charlie Methven. That evening it was confirmed that Arise Capital Partners, which consists of David Storch, Michael Storch and Tom Costin, had become the new preferred bidder for the Club.
On 18 March, Sean Fusire pulled out of the Zimbabwe squad for the Four Nations Football Tournament due to personal reasons.
April On 15 April, the EFL informed the preferred bidders that Wednesday will start next season on –15 points.
May On 2 May, it was confirmed that Arise Capital Partners LLC had become the new owners of Sheffield Wednesday, and that they would start the following season without any points deduction. After the news, Wednesday beat West Bromwich Albion on the final day of the season, marking their first home win, and second win overall, to finish the season on zero points.
On 8 May, it was confirmed that Tim Bacich and John Ross had invested more than 10% alongside David Storch into Steel City Sports Fund, which is a subsidiary of SWFC Sports Holdings, the company who purchased the club.
On 16 May, the club issued their retained list following the end-of-the-season.
On 18 May, the club confirmed the appointment of David Bruce as their new Chief Executive Officer.