Sheffield Wednesday legend Chris Waddle has warned that the Owls could become "another Bolton or Wigan" if owner Dejphon Chansiri doesn't sell the club.
Both clubs have been close to financial ruin in recent years, with Bolton now down in League Two after suffering back-to-back relegations – a feat the Latics will match if they don't avoid the drop this term.
The North West duo could both be League One clubs next term, with the Trotters having launched a serious promotion push, and Wednesday are on course to join them in the third tier at the moment.
The Owls installed new boss Darren Moore to try and help them avoid relegation but they face an uphill battle, with the six-point deduction they started the season with looking as if it could well be fatal.
Speaking to the Daily Mail, Waddle has suggested that Chansiri deserves the blame for the Yorkshire club's current struggles.
He said: "I'm gutted for the punters. They deserve so much better and it would be nice to see the people at the top put their hands up.
"This is not about Darren Moore, Tony Pulis, or even Garry Monk, it's about Chansiri. He needs to admit he's made a mess of the club.
"He threw his eggs in one basket when he came in, making a big statement, signing players for good money. They reached the play-offs for two years but since then it's been disastrous. It's gone from bad to worse; no investment, changing managers, no structure. It's been run like a Carry On film."
Waddle also offered a warning about the future of Wednesday should their current owner not sell up soon.
He said: "He's got to put the club first and move on but he's stubborn. I can see Wednesday being another Bolton or Wigan."
Results this weekend could be key for the Owls but they face two tough tests in the form of second-place Watford and play-off chasers Cardiff City.
The Verdict
Wednesday fans will likely echo the words of their club legend because this is a worrying time for the Hillsborough outfit.
Chansiri deserves a huge amount of the blame for their current struggles and, right now, it's hard to see at this point how they can turn things around under his ownership.
A fresh start could be just what the Owls need but there doesn't seem to be any signs of that happening soon.