David Storch learns of major restriction ahead of Sheffield Wednesday takeover | OneFootball

Sheffield Wednesday individual player wages set to be restricted to £7k per week next season while David Storch has been named as preferred bidder

Sheffield Wednesday administrators have named David Storch as their preferred bidder, but guiding the Owls into their next chapter is set to pose unique and testing challenges.

Storch's consortium will now be granted exclusivity to complete a Wednesday takeover, while the Owls are set to begin next term's League One campaign with a 15-point deduction, due to the bid being worth less than the amount needed to pay creditors 25p in the pound.

The South Yorkshire outfit's previous bidder, James Bord, decided that his offer exceeded the value of the Championship club.

Meanwhile, Wednesday avoided defeat for the first time in 2026 with a 1-1 draw against Watford on Tuesday, but were left disappointed by the Hornets' late equaliser.

Sheffield Wednesday set for strict wage restrictions as David Storch takeover looms

Sheffield Wednesday Supporters' Trust representative Steve Chu has revealed talks he had with Storch, while journalist Dom Howson has revealed via X that the Owls' preferred bidder is confident that the EFL will approve the deal.

However, as per The Athletic, the American businessman has to answer questions about a $55million settlement AAR Corp paid in 2024 to settle investigations by the Department of Justice and the Securities and Exchange Commission into violations of the Foreign Corrupt Practices Act.

Storch was chairman of AAR Corp in 2019.

Meanwhile, according to the Sheffield Star, one of the restrictions the EFL will impose on the Owls next season will mean that individual player wages cannot exceed £7,000 per week, and their overall wage bill will be capped at £7million.

To put those numbers into context, Capology estimates show that eight current League One clubs have a wage bill that exceeds £7m per year.

The Owls also have 13 players who are estimated to be earning over £7k per week at present.

EFL wage restriction deemed unfair on Sheffield Wednesday

Wednesday have already endured an incredibly tough Championship campaign, winning just one game in 37 second-tier attempts so far.

Therefore, it is no surprise that the news that the South Yorkshire outfit are set to face incredibly stringent wage restrictions next term, alongside a 15-point deduction, has left those associated with the Owls feeling that the ruling is unfair.

Henrik Pedersen's side have already been deducted 18 points this season, while their financial turmoil has led to numerous player departures, including that of Hillsborough stalwart and legend Barry Bannan.

Former star players such as Josh Windass and Michael Smith left South Yorkshire last summer, when former owner Dejphon Chansiri was consistently failing to pay their wages on time.

Meanwhile, posting on X on Tuesday, the Sheffield Star's Joe Crann wrote: "I understand the -15, it's in the regulations, and if it's waived then it could set a dangerous precedent.

"But a £7k wage cap on top of the deduction and the fee restriction feels absolutely unnecessary and unjustified. Completely unfair."

One Owls supporter shared that sentiment by commenting on Crann's post: "Vindictive is the correct word, and it effectively puts the club at risk of another relegation.

"At every stage, it's the EFL rules that have made this situation worse than it should be. Rules that were created for an entirely different scenario than Wednesday's."

Should the Storch consortium complete their Wednesday takeover, they will likely find it tough to compile a squad that can avoid relegation to League Two despite their incoming deduction and restrictions.