THE SHEFFIELD Wednesday Supporters’ Trust says it stands ready to propose a “credible fan-led takeover” if necessary following the club’s entry into administration.

The Owls’ longstanding financial issues have finally come to a head, signalling the end of Dejphon Chansiri’s controversial ownership and leading to an instant 12-point deduction by the EFL.

The supporters’ trust has been backing a boycott in recent times, of matches and merchandise, but now says it wants to move from “a phase of resistance” to “a phase of renewal.”

And while that includes a call to return to Hillsborough and help fill the coffers, work has also been done to construct a potential takeover — even if the club’s history, fanbase and potential may mean it is not ultimately required.

“The trust expects strong interest from prospective buyers. However, should a suitable sale not materialise, supporters can be assured that, for the last few months, we have been working to develop a credible, fan-led takeover proposal,” read an open letter.

“This ensures that even in the worst-case scenario, the threat of liquidation will not be an option.

“The trust has already opened dialogue with them (the joint administrators) and will play a full part in safeguarding the long-term survival and sustainable future of our club.”

Reacting to the news, the trust said: “Today marks one of the most bittersweet days in our club’s proud 158-year history.

“Entering administration was the inevitable outcome of years of financial mismanagement, a lack of accountability, and repeated failures to engage credible buyers. Administration is not something to be celebrated. It needn’t have ended this way. But we are overjoyed to have Dejphon Chansiri out of our club for good.

“Administration represents a necessary turning point. With the club now totally out of Chansiri’s hands, this may be the first step to getting our Wednesday back.”

In the short term that means encouraging fans to spend the cash they have been withholding during the boycott.

“Every ticket bought, every shirt worn, every pie and pint enjoyed in Hillsborough helps the club rebuild from the ground up,” read a second letter.

“The money that once stayed away can now go where it belongs — back into our club, sustaining jobs, players, and the matchday experience that defines Wednesday.

“Those who stayed away in protest can now return in pride, starting with [Saturday’s] match against Oxford United. Those who chose not to buy the kit can now wear it as a badge of hope for the future.”