Henrik Pedersen drops huge Sheffield Wednesday takeover update | OneFootball

Sheffield Wednesday manager Henrik Pedersen is optimistic that the club's takeover by Arise Capital Partners will be completed imminently.

After a nightmare period, it seems there could be some good news on the horizon for Sheffield Wednesday as Arise Capital Partners close in on their takeover of the club.

Over six months on from former owner Dejphon Chansiri's exit in October, Wednesday remain in administration, and it has been a nightmare season on the pitch, with the South Yorkshire outfit suffering the earliest relegation in English football history when their fate was confirmed in February.

It had looked as though James Bord's consortium were in pole position to buy the club, but they withdrew from the takeover process in February, opening the door for Arise — a group led by David Storch — to be granted preferred bidder status the following month.

Storch had set a target of 1st May to complete his takeover of the Owls, but fears emerged the American businessman could walk away from a deal when he released a statement on social media last month criticising the EFL's plans to impose a 15-point deduction on the club next season, something that he claimed he and his business partners "fundamentally disagree".

However, while it is unclear whether Wednesday will avoid a points penalty, significant progress has been made in recent days, and it appears Storch is on course to meet his deadline, with a source telling The Star that the deal is "basically done".

With lawyers having worked through the night to complete the necessary paperwork, an announcement is thought to be imminent, and Storch is expected to be present for Saturday's game against West Bromwich Albion, along with his son Michael and fellow consortium member Tom Costin.

Henrik Pedersen issues exciting Sheffield Wednesday takeover reveal

Despite winning just one of his 49 games in charge so far, Wednesday manager Henrik Pedersen is set to remain in charge next season, and it seems the Dane has already formed a strong relationship with the club's incoming owners.

A sell-out crowd will be in attendance at Hillsborough for the visit of West Brom in the final game of the Championship season on Saturday, and with Owls supporters hoping to welcome in the start of a new era, Pedersen has revealed that he is optimistic the takeover will be completed ahead of kick-off.

"You can feel where we are going that everyone is asking, ‘When will it happen? When will it happen?’ We are looking forward so much so we can start this rebuild of Sheffield Wednesday," Pedersen told The Star.

"So there is a very positive energy around it. It first has to be done and right now it is in the hands of the lawyers, and we all have a big confidence that it will happen tomorrow and hopefully before the game.

"Of course, it has been a tough, tough period for the players, the staff, the employees, the fans, for everyone who has a little or a big, big heart for Sheffield Wednesday. With those guys who are coming in now, with David, with Michael and with Tom, they are fantastic guys, and we are looking forward."

Sheffield Wednesday supporters should be optimistic as David Storch takeover looms

As the Championship season draws to a close, Wednesday will be hoping to get their first home win of the campaign against West Brom and move onto zero points, but Saturday's game will be about far more than events on the pitch.

It has been a nightmare period for Owls supporters, and there have been times over the past year when it looked as though the future of the club was in serious doubt, but a bright new era could be ahead under the ownership of Arise.

Storch has certainly made a positive early impression on Wednesday fans in recent weeks with his open and honest communication on social media, as well as outlining plans to revert back to the popular old badge, and while he will ultimately be judged on results, it seems that the club will be in safe hands moving forward.