David Storch came remarkably close to owning another EFL club before Sheffield Wednesday | OneFootball

David Storch came close to entering football ownership in the EFL before his takeover of Sheffield Wednesday

David Storch completed his takeover of Sheffield Wednesday at the beginning of May earlier this year.

The American is the leader of the group Arise Capital, who took the Owls out of administration when they bought the club.

The Yorkshire outfit had been the subject of significant financial mismanagement under previous owner Dejphon Chansiri, which contributed to their decline back to League One.

But now Storch will be hoping that the rebuild of Sheffield Wednesday under his ownership can bring the team back to the Championship as quickly as possible.

David Storch’s attempt to buy Reading and Cardiff City

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However, Storch’s purchase of Sheffield Wednesday wasn’t his first attempt to get into the world of football ownership in the United Kingdom.

It was reported that the American was encouraged by his son Michael, who is also a part of Arise Capital, to purchase a minority stake in Reading.

Storch could have become a partner to Rob Couhig, who took over the Royals under similar circumstances to Sheffield Wednesday in 2025, albeit the Berkshire outfit never quite went into administration.

However, Storch went on to consider a full takeover of Cardiff City in the immediate aftermath of their relegation to League One last year.

The protracted Sheffield Wednesday takeover process

Instead, Storch proceeded with his takeover attempt of Sheffield Wednesday following their move into administration last October.

However, it was a protracted takeover process, with Arise Capital initially losing out in the bidding process to a group led by James Bord.

But the former poker player’s attempt to buy the Owls collapsed in February 2026, which reopened negotiations.

Storch was named as the new preferred bidder by administrators Begbies Traynor in March, but they had to wait until May to complete the deal, just over six months on from when the club first went into administration.

Cardiff and Reading’s loss is Sheffield Wednesday’s gain

Cardiff remain under the ownership of Vincent Tan, who oversaw the club’s promotion back to the Championship at the first attempt in 2025/26.

Meanwhile, the Royals are on a far more stable footing with Couhig at the helm compared to their previous owner Dai Yongge.

But Sheffield Wednesday fans will be glad that those clubs’ loss is the gain of the Yorkshire outfit, with Storch making a big impact since becoming the new owner.

The Owls were in dire financial straits prior to the change in the ownership, and the future of the club was at stake, but now they have made a bright start to life in League One, and supporters can be optimistic that the team is going in the right direction.

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David Storch’s first team investment at Sheffield Wednesday

Storch’s first big move after completing his takeover of Sheffield Wednesday was to install David Bruce as the new CEO, with Simon Wilson then arriving quickly behind as the new sporting director.

The pair worked alongside head coach Henrik Pedersen to oversee the rebuild of the Owls’ first team squad.

The League One side completed 18 signings before the close of the summer transfer market, with Barry Bannan’s return being the most notable arrival.

There were other big name additions, such as Louie Barry from Aston Villa and Billy Mitchell as a free agent.

Loan deals for Harry Gray, Mason Burstow and Davis Keillor-Dunn bolster the squad’s attacking options, and Jaden Heskey returned for another spell after impressing last season.

And it has put Sheffield Wednesday in a position to compete again, with optimism now building among the fans that a promotion push could be on the cards in 2027.