Sheffield Wednesday takeover news: Arise reshuffle, CEO update, takeover date for David Storch | OneFootball

Football League World has rounded up all the latest news regarding the Sheffield Wednesday takeover

Sheffield Wednesday remain in administration, but David Storch's Arise consortium are making positive steps towards completing their takeover ahead of next term.

The Owls' difficulties this season were epitomised when they were relegated to League One in February, thanks to a 2-1 defeat to fierce rivals Sheffield United.

Wednesday never had a fighting chance of avoiding relegation to the third tier, as former owner Dejphon Chansiri's financial wrongdoings meant that the Hillsborough club were deducted 18 points, and several players left last summer.

The winter transfer window was no easier for the Owls, as club legend Barry Bannan joined Millwall, to help the Lions in their promotion push.

Meanwhile, Storch's bid fell below the amount required to pay the creditors 25p in the pound, meaning that the South Yorkshire outfit are set for a 15-point deduction next term.

However, the Arise consortium are working hard to ensure that Wednesday can be as competitive as possible in League One next season, despite their current struggles.

Football League World has rounded up all the latest takeover news emerging from Hillsborough.

Lee Gregory could be handed Sheffield Wednesday role in Arise reshuffle

Prospective owner Storch previously told BBC Radio Sheffield how he intends to build a club that Owls fans identify with, following the years of hardship under Chansiri and subsequent time in administration: "When we first met people from the Supporters' Trust, they shared with us a document they had produced called A Better Wednesday, and we read through the document and felt this was exactly how we want to behave and operate as owners.

"In fact, as we started going down the path of submitting our bid, I actually had all of our team, our bankers, our lawyers, our accountants, our consultants. I had them all read A Better Wednesday to get comfortable with the concept, because this is the concept, this is how we're going to behave."

Perhaps with that in mind, Storch's Arise consortium may turn to Lee Gregory, who is a familiar face with the Hillsborough faithful, thanks to his playing days.

According to the Sheffield Star, the former striker, who has been helping to coach the Owls academy in recent weeks, could be handed a more permanent role.

The Arise consortium are expected to build a new coaching group once their takeover gets over the line.

Arise make fresh Sheffield Wednesday plans including CEO appointment

There is still no guarantee that Arise will be named as Wednesday's next owners, but matters are clearly moving in the right direction, which gives Owls fans plenty of cause for cautious optimism.

Former preferred bidder James Bord's Wednesday takeover collapsed, but Storch is currently undergoing the EFL's Owners' and Directors' Test, and no concerns have been raised so far.

Meanwhile, the Arise consortium will have plenty of off-field and on-field matters to sort once their transaction is over the line.

As reported by the Sheffield Star, Storch and Co are vying to appoint a CEO to run the South Yorkshire club on a day-to-day basis.

The Star's report adds that the identity of the CEO has not yet been disclosed, although they are believed to have worked at a high level of football before.

Alongside their plans to appoint new board members, Arise are also keen to revamp the Owls' megastore, while other infrastructure improvements are required in areas such as the North Stand at Hillsborough.

Sheffield Wednesday's prospective takeover date remains the same

Storch has always shared his desire to complete his Owls takeover by 1 May, and previously told BBC Radio Sheffield: "We'd like to get this done as soon as possible. We have to go through a process, and we are going to put full-court press on from our side and hope that we can get to completion.

"We want to be ready to play in the June transfer window, so our goal is to have this done very early May. I have been blessed. I have been successful in my life's work, and we have a good financial plan, which includes investments we feel are required to compete. That will see the team get back not just to the Championship but maybe beyond that."

The Sheffield Star's Alex Miller has revealed via X that 1 May remains that date that Storch is vying to have his takeover completed by.

If Storch gets the takeover done by next month, he will only be subject to the EFL's Owners' and Directors' Test, but if his transaction is not over the line by May, he will have to undergo the Independent Football Regulator's checks.