Sheffield Wednesday avoid 15-point deduction after successful takeover

Sheffield Wednesday’s long takeover saga is finally over after U.S. consortium Arise Capital Partners completed its purchase of the club and a 15-point deduction has been avoided.

The already-relegated Championship club announced the news on the pitch ahead of the last fixture of the campaign, at home to West Brom.

David Storch, who led the consortium, was introduced to a rapturous welcome to officially bring a painful chapter to a conclusion after financial problems had impacted the Owls in recent years under old owner Dejphon Chansiri and looked set to roll into next season, but a 15-point deduction will no longer be issued.

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“The Joint Administrators of Sheffield Wednesday Football Club Limited are pleased to confirm the successful completion of the sale of the club to Arise Capital Partners LLC, a consortium led by David Storch, alongside Michael Storch and Tom Costin,” a statement read.

“The transaction has been completed following constructive engagement with key stakeholders, including the English Football League (EFL), and in accordance with all relevant regulatory requirements.

“As part of this process, the EFL Board exercised its discretion, as provided by the Insolvency Policy, and concluded that it would not be appropriate to impose a 15-point deduction on the club following its exit from Administration.

“As such, the club will begin the upcoming season on 0 points. A position has also been agreed on wage and transfer parameters that is both acceptable and supportive of the club’s forward progress.

“The sale secures the long-term future of the club and marks the beginning of a new era for Sheffield Wednesday — one built on stability, responsibility, and renewed belief.”