Sheffield Wednesday stands at a "turning point", according to an insider, after the historic English side entered administration and was hit with a 12-point deduction.
The club, which is one of England's oldest football organisations, has already been slapped with multiple charges for failing to pay staff wages on time.
Despite the miserable backdrop, An ex-player, who was part of the academy at the time Dejphon Chansiri took over the club, has told GB News he thinks the development is a "turning point" and a "positive step forward".
He told Britain's News Channel: "Going into administration isn’t something usually celebrated, I guess, but it’s more of a relief than anything and symbolises a turning point after years of gloom."
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Speaking on the general mood around the club, the insider said: "Over the last seven months especially, the atmosphere around the club has felt flat, I think mainly because a lot of fans were fed up with decisions made by the owner.
"Anything positive or worth celebrating was soon trumped by the man at the top whose name is plastered across the stand that he didn’t even ensure was safe, so to see that removed today I think summed up how big a turning point today is.
He stressed that the administration must "stabilise the club in the short term and work to bring in a fit and proper ownership team".
"Credit to Ian Bennett and the supporters trust as well for organising fan protests, including the one against Middlesbrough which attracted the necessary media attention, it goes to show that fans aren’t powerless."
Historic football side Sheffield Wednesday have filed for administration | GETTYThe People's Channel also spoke to a lifelong Wednesday fan and current season ticket holder, who said the club's current position "breaks my heart".
He explained: "Honestly at this point I welcome it… that’s how bad it’s got for Wednesday fans.
He revealed he has been a season ticket holder and attended games since the age of seven, adding: "It breaks my heart to see where we are right now."
"We don’t get to find anything out until it’s announced on social media. We desperately need support from the EFL and FA because we’re such a historic, massive club and we might be at risk of going under with this man in charge!"
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Last month, in the 10th minute of their Championship fixture against Coventry, dozens of Owls supporters broke through security and onto the pitch, forcing the game to be halted
| PAHe added: "This chairman must be one of the worst to ever be in English football.
"It almost feels like he’s not selling the club out of pettiness, as if he wants to make the fans hurt. That’s how it feels now. He’s had options, he’s had bids, and nothing gets done."
Earlier today, a notice was filed after reports of an "imminent" winding-up petition over unpaid tax debt.
The former Premier League side now a face heavy 12-point deduction, as confirmed by the EFL.
Sheffield Wednesday chief Dejphon Chansiri took over in 2015
| PA"Whilst this development results in the automatic deduction of 12 points in accordance with Regulations agreed by all Clubs, it also presents Sheffield Wednesday with the opportunity to move matters towards a successful sale and secure future under new ownership," an official statement read.
The club, which has won four league titles, three FA Cups, and one League Cup, currently sits at the bottom of the Championship, the second tier of English football, after winning just one of their opening 11 fixtures.
Protests have been held against current owner Dejphon Chansiri, with fans boycotting cup matches against Leeds and Grimsby.
Last month, in the 10th minute of their Championship fixture against Coventry, dozens of Owls supporters broke through security and onto the pitch, forcing the game to be halted.
The Owls' home ground is the infamous Hillsborough Stadium, where they will face fierce rivals Sheffield United in the Steel City derby next month.
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