Below is a summary of the full article. Click here for the full version or go back to LFC Live.net

(Credit: Imago / Hasan Karim - Breaking Media)

Ben Palmer

Sat 2 August 2025 12:00, UK

Sheffield Wednesday’s worsening financial state is being exacerbated as the club are running out of players to sell.

The Owls have seen several key players depart for nothing this summer, and the EFL have placed an embargo on the club that only allows them to sign free agents or loan players.

Last season’s top scorer Josh Windass has joined Wrexham on a free transfer, and Michael Smith has departed for Preston North End.

Danny Rohl’s record as Sheffield Wednesday manager before leaving.

(Credit: Imago)

Exacerbating their issues, Danny Rohl quit as manager of Sheffield Wednesday just 13 days before their Championship curtain raiser against Leicester City.

And one of the most troubling departures this summer has been the exit of Caelan Cadamarteri to Man City.

This article contains exclusive comment from Dan Plumley, a football finance expert and senior lecturer at Sheffield Hallam University.

MORE FOOTBALL INSIDER STORIES

The Scotland and England youth international is viewed as one of the most promising players to come through at Hillsborough since the club’s inception.

But with so much uncertainty surrounding the club, Cadamarteri has chosen to move to City this summer.

Whilst the fee is undisclosed, it is thought to be in the region of £1.5million, with MailOnline reporting that the first instalment of the deal is worth £900,000.

That cash boost is much needed, but Plumley warned Football Insider that not only had it been spent already, but the club also needed to find a more reliable source of income: “I think it was rumoured to be in a region of £1-1.5m.

“The reality of that is it’s already been spent.

“It’s provided a real short-term boost in the sense that it’s enabled the club to pay some of the players and the staff, which has meant that the embargo on non-payment of players has been lifted from the EFL.

“But the reality is that money’s long gone.

“It’s just been used to cover the wages, and that’s the downside to this whole situation, is you’re having to sell players just to pay the bills, and it’s not a situation you want to be in.

“Because the money’s in and then the money’s out straight away because of the financial challenges of the club at the minute.”

Barry Bannan is a target for Middlesbrough and Millwall if he were to leave Wednesday this summer.

The ex-Aston Villa man has been with the Owls for a decade, but he is now out of contract with the Yorkshire side.

Despite being without a new contract, Bannan is still training with Wednesday, but with the team in such a precarious position, he may be forced to leave, despite his wishes to continue at Hillsborough.

Related Posts