Sheffield Wednesday's administration report has been published, revealing a £97k commercial payment and a £900k stadium haircut. The report confirms that the £7.4m owed to New Avenue Projects for a charge on Hillsborough stadium was negotiated down to £6.5m as part of the sale of Sheffield Wednesday to US consortium Arise Capital Partners. Investigations into director conduct in the time leading into administration are ongoing. The report also states that a sum of nearly £97k was paid to an unnamed football creditor as part of a commercial agreement with Arise. The latest publications are a mandatory six-month progress report coinciding with the fall of the club into administration on October 24. The report does not represent a closing report on behalf of BTG, which will be released in due course. The ultimate breakdown of the sale price of the club, which The Star has reason to believe resembles somewhere in the region of the £12.1m share issue placed into the consortium's holding company last month, will be confirmed in the closing statement. Shortly following the period of this report, on 1 May 2026, the sale of the Club and Stadium was completed to Arise. The consideration apportioned to the Company arising from the transaction is not reflected in the receipts and payments account for the period, as completion occurred after the reporting date. Full details of the transaction, including the associated realisations, will be provided in the next progress report. A charge held by New Avenue Projects (NAP) over Hillsborough Stadium was owed by Sheffield 3 and effectively by the club, with work having been undertaken to force the hand of former chairman Dejphon Chansiri to put the two businesses into the same administration process prior to the October 24 undertaking. That charge had been rolled over from an initial at just over £7.3m, with the charge appearing to have previously been 'rolled-up' with interest and annually re-issued from a sum of just over £6.4m in September 2020. The Star reported in the last months that the figure owed had grown, though the report makes clear the payment made to NAP will come out at £6.5m, with £700k rolled off.