9 Biggest Downward Spirals By Former Premier League Clubs

8. Sheffield Wednesday

Unlike most of the teams on this list, Sheffield Wednesday suffered a steady decline as opposed to a seismic collapse, but a club of their history and standing deserves better. The early 1990s were a good period for the club, winning promotion to the top flight in 1991 under the management of Ron Atkinson. The Owls also won silverware that season, with victory in the League Cup. They finished third the following year, and the first ever Premier League season saw Wednesday reach both domestic cup finals and finish 7th. Things looked good for the Owls but a succession of managers failed to keep up such good form; David Pleat and Danny Wilson spent large sums of money on squads that could not deliver the desired results. The club's debts grew and Wilson was sacked in March 2000, but caretaker manager Peter Shreeves could do nothing to keep Wednesday up. The rot set in further in Division One and they were relegated to the third tier in 2002-03. They managed to win promotion through the playoffs in 2005, but by 2010, the club had once again dropped down into League One. Over the summer of 2010, Wednesday faced a series of HMRC winding-up orders for unpaid tax and VAT bills. The club was saved by former Portsmouth owner Milan Mandaric's purchase of the club and he settled Wednesday's debts as part of the deal. The club has stabilised since the Mandaric deal and has been back in the Championship since 2012. Wednesday's new owner Dejphon Chansiri has stated he aims to have the club back in the top flight by 2017, the club's 150th anniversary; he has invested big money in the Wednesday squad and facilities, but the anniversary may come a little too soon for Chansiri's ambitions.