Date: 7th September 2010 at 6:44pm
Written by:

Wednesday look to have survived the threat of administration today with their bank, the Co-operative Bank, understood to be stepping in to help them with their unpaid tax bill.

Earlier today the club were dealt with the news that they could be entered into administration within the next 24 hours if they failed to pay the bill, understood to be around £1.1 million.

It was depending on their creditors, the Co-op Bank, bailing them out yet again.

And following discussions today, it appears that the Co-op have agreed to help Wednesday avoid administration – and a ten point league penalty – and help pay their growing tax bill.

The club were at the High Court today to deal with their unpaid tax bill to the HMRC, which was delayed 28 days ago to allow the Owls further time to pay up.

And although the imminent administration threat seems to have gone for now, the club is still crying out for investment as the poor financial situation at Hillsborough appears to continue to grow.

The club, and the Co-op Bank, have yet to make a statement on today’s news but one is expected within 24 hours.