Image source: Getty ImagesByDale JohnsonFootball Issues Correspondent2 May 2026 12:37 BSTUpdated an hour agoSheffield announced on Saturday that the US consortium Arise Capital Partners had bought the club. The group is led David Storch 73, who is an American executive with a background in aviation services. The EFL confirmed this news on Saturday and said it wouldn’t impose a deduction of 15 points on the club after its exit from the administration because this was “an incredibly complex and challenging for all parties. BBC Sport reported that sources told them that Chansiri, the former owner of the club, had either rejected or not responded to multiple offers. The EFL took this into consideration when deciding to waive the 15 point deduction. Wednesday will be under budget restrictions for two seasons, as part of “conditions to continue membership in the EFL”. However, they will still have the right to sign new players. Selling Sheffield WednesdayStorch’s son, Michael and Tom Costin completed the three-man group. Costin brings football expertise to Wednesday through Blue Crow Sports Group, a multi-club ownership and investment platform that has controlling interests in Leganes in Spain, Le Havre, France and Mexican club Cancun FC. Arise had set a 1 May deadline, aware of possible delays if the takeover wasn’t completed before the Independent Football Regulator (IFR) took control of new owner process on 5 May. David Kogan, chair of the independent football regulatory, said that this deal is good for Shefield Wednesday FC and the community who have endured a long period uncertainty. “Sheffield Wednesday is a timely reminder as to why the IFR was created in the first instance. The IFR will begin assessing new owners, directors, and senior executives of English football’s top five divisions next week. This will help ensure that only fit and proper people are allowed to own and run football clubs. The Owls were in administration since October 24. This led to a 12-point deduction. A further six points were deducted for charges related to missed payment to players, staff and HMRC, as well as transfer fees due to another club. Chansiri was banned from owning any EFL clubs for three years. However, the penalties did not affect the club’s fate. The majority of senior players were sold by Chansiri, or as part the administration process. Three days later, a takeover led Dunfermline Athletic’s James Bord fell through, leaving Wednesday in limbo. But Storch, the man who had been named Bord’s preferred bidder in December, returned and cut a deal. With Chansiri’s reign now over, and new owners in place to bring fresh hope, the club can look to a brighter future.Related topicsSheffield WednesdayChampionshipFootballEngland SportMore on this storyLatest Sheffield Wednesday news, analysis and fan views26 July 2022Listen to Sheffield Wednesday content on BBC Sounds
