Championship side Sheffield Wednesday have filed for administration, according to a court filing.
The club currently sit bottom of the Championship, the second tier of English football, with just six points after 11 games.
Known as The Owls, they are one of the oldest surviving clubs in world football, with more than 150 years of history.
Court records confirm the club have filed for administration.
A notice was filed at a specialist companies court at 10.01am.
The Owls, who host Oxford United on Saturday, have been in turmoil for a long time.
On 3 June, owner Dejphon Chansiri, who took over in 2015, was charged with breaching EFL regulations regarding payment obligations.
Weeks later Mr Chansiri said he was willing to sell the club in a statement on their official website.
Their crisis deepened just days later when another embargo was imposed on the club relating to payments owed to HMRC, before players and staff were not paid on time on 30 June.
In the months that followed, forwards Josh Windass and Michael Smith left the club by mutual consent before manager Danny Rohl, now at Rangers, also left my mutual consent.
Please use Chrome browser for a more accessible video player
The Owls were forced to close the 9,255-capacity North Stand at Hillsborough after a Prohibition Notice was issued by Sheffield City Council.
This breaking news story is being updated and more details will be published shortly.
Please refresh the page for the latest version.
You can receive breaking news alerts on a smartphone or tablet via the Sky News app. You can also follow us on WhatsApp and subscribe to our YouTube channel to keep up with the latest news.
