EFL told to change 'wrong' rule after Sheffield Wednesday takeover saga | OneFootball

The EFL have been told to change their insolvency policies following the Sheffield Wednesday saga this season

Sheffield Wednesday have entered a new chapter under David Storch's ownership, but the Owls have endured an extremely difficult Championship campaign.

The Hillsborough Stadium outfit were relegated from the second tier to League One by February, when they were beaten by cross-city rivals Sheffield United, having been deducted 18 points after former owner Dejphon Chansiri plunged them into administration.

Henrik Pedersen's men managed just two victories in the Championship this season, highlighting the lack of depth and quality in their squad.

However, Storch's Arise consortium completed their Wednesday takeover ahead of the final game of the season, meaning a party atmosphere accompanied the Owls' 2-1 triumph over West Bromwich Albion last Saturday.

The South Yorkshire outfit also received the good news that they wouldn't be deducted a further 15 points next season before their clash with West Brom got underway.

Wednesday were set to be handed a 15-point penalty because Storch's bid fell below the amount required to pay creditors 25p in the pound.

However, the EFL ultimately opted against giving the Owls that punishment, because Storch offered main creditor Chansiri an alternative solution.

EFL told to reconsider insolvency rules after Sheffield Wednesday drama

Now that Wednesday know they will not be deducted 15 points next season, they can eye an immediate Championship return, rather than worry about the prospect of a further relegation to League Two.

However, the Owls are under EFL budget restrictions, while they must complete a significant rebuild this summer, having witnessed plenty of departures in both of the last two transfer windows.

Former star players such as Anthony Musaba and Josh Windass left Hillsborough Stadium last summer, while Wednesday legend Barry Bannan joined promotion chasers Millwall in the winter window.

Meanwhile, following the EFL's decision to remove the 15-point penalty that was due to hit Wednesday, former Everton chief executive Keith Wyness has called for the Championship, League One, and League Two's governing body to change their insolvency policies.

Wyness told Football Insider: "It’s got to be revised. It’s something in the rules that are wrong. We’re finding some very difficult financial engineering that happens now with owners.

"Chansiri, he came in, and he did make an attempt to invest in the club initially, but it all went wrong, certainly in the last two or three seasons.

"So that’s got to be taken into account as well. There’s never a one size fits all in these sorts of situations. Each one tends to be very unique, and so having flexibility within the rules is key.

"That’s what they’ve got to try and build in, is that flexibility, and in this case they did have that flexibility, and they used it wisely."

EFL were right to waive Sheffield Wednesday point deduction

Chansiri has already inflicted plenty of damage on the South Yorkshire side, causing them to endure one of the most difficult seasons in their history, and leaving supporters worried about a potential existential threat before Storch's takeover.

Meanwhile, as reported by Sky Sports, Storch's multimillion-pound offer to Chansiri was a crucial part in the EFL's decision to remove the 15-point deduction.

Regardless of the financial technicalities, though, Wednesday deserve to start next season with the same amount of points as their League One rivals.

The Owls' struggles in recent months were entirely down to Chansiri, and players, supporters, and Pedersen don't deserve to see the failed owner's legacy hinder their chances of having a successful campaign next term.

As Wyness