David Storch’s Sheffield Wednesday takeover: Will it be completed by May 1st? | OneFootball

The latest surrounding whether Sheffield Wednesday's prospective takeover will be completed by May

Sheffield Wednesday have been living in hope for the entire campaign of new ownership coming in at Hillsborough, and time is running out to make that a reality.

The Owls have been in administration for close to six months now, after Dejphon Chansiri finally relinquished control of the Championship side in October, following a near-decade of financial mismanagement that was amplified in the final few months of his reign.

The whole 2025/26 campaign on the field has been a write-off, as points deductions and a threadbare squad led to Wednesday suffering the earliest relegation in EFL history back in February when they lost the Steel City Derby against neighbours Sheffield United.

Off the field, administrators at Begbies Traynor have been hard at work securing new ownership. Their first choice, a consortium led by former poker player James Bord, ended up pulling out of their bid three months after they were announced as the preferred bidder, citing that their sizable £47.8 million bid could "no longer be justified."

That was in late February, and it meant that Wednesday were left scrambling for new buyers once more. Just two weeks later, a new group, led by David Storch, was announced as the preferred bidder, and the cogs have been turning since that day in mid-March to get the takeover over the line by the target date - May 1st.

Why Sheffield Wednesday's new owners want the takeover to be completed by May 1st

May 1st has been a significant date in the football diary ever since the Football Governance Act became law in July 2025.

The new government-established Independent Football Regulator set out dates in which they could intervene and ensure that football owners were operating to a suitable extent. In December, they were able to intervene and act against them, and from the start of next month, any new prospective owners must undergo their Owners, Directors and Senior Executives test.

Currently, David Storch and the rest of his Arise consortium are partaking in the EFL's Owners and Directors test, and if the necessary checks aren't completed by the start of next month, the takeover process threatens to elongate further, as the process would have to start over again under fresh jurisdiction.

Luckily enough, the Sheffield Star has reported in the past week that May 1st remains the target date for the takeover to be completed, citing the desire to avoid the change to the IFR's tests, but also the financial complications that would occur by starting a seventh straight month in administration.

The article does state that there is still "a great deal of work" to be done, but David Storch has been in the UK this month to partake in meetings as he hopes to accelerate the process further.

Sheffield Wednesday's final-day decision provides hope of a positive takeover update come May 1st

Ultimately, only time will tell whether the takeover will be completed by the start of next month, but with the plans in place for Wednesday's final game of the campaign on May 2nd against West Brom at Hillsborough, the club are seemingly preparing to have a cause for celebration.

The most expensive adult ticket for the game against the Baggies is £20, and the Owls are anticipating a capacity crowd. Additionally, Wednesday fans are being encouraged to wear Hawaiian fancy dress and bring inflatables as a 'Honolulu Wednesday.'

The end of the campaign is a cause for relief more than anything for Sheffield Wednesday, as it'll put a stop to weekly poor results and a year where they may likely not break into a positive points tally, and the initiatives on show are to help bring a bit of joy to an otherwise dismal year; but there may be alterior motives, too.

There's going to be a party atmosphere at Hillsborough on the final day, and that day comes after the hopeful completion date of the Arise takeover.

Hopefully, Wednesday fans won't just have the end of the season to celebrate, as the dismal period of administration coming to a close, and the definitive end of Dejphon Chansiri's time at the club, can provide reasons to be happy, too.