Sheffield Wednesday news: David Storch takes Hillsborough action, Kris Wigfield drops Owls takeover claim | OneFootball

Football League World rounds up all the latest Sheffield Wednesday news

Sheffield Wednesday are set for one of the most important summers of their modern history following the takeover completed by David Storch's Arise consortium.

Storch's ownership led the Owls away from administration and will allow the South Yorkshire club to move on from the years of hardship inflicted on them by former owner Dejphon Chansiri.

Chansiri's actions handed Wednesday an 18-point deduction this season, and they were consequently relegated to League One by February.

Both of the last two transfer windows have been incredibly tough for the Hillsborough Stadium outfit, who witnessed several key departures, such as that of Owls legend Barry Bannan, who is now vying to help Millwall reach the Premier League via the Championship play-offs.

Wednesday boss Henrik Pedersen had his hands tied this season, with a squad that has lacked both depth and quality, while Storch and Co are now set to oversee a major rebuild in the summer.

With a new era underway at Hillsborough Stadium, Football League World have taken a look at all the latest Owls news.

Max Lowe decides whether he is willing to stay at Sheffield Wednesday following relegation

Wednesday must recruit well this summer to ensure that they can compete at the right end of the League One table following their relegation to the third tier.

The EFL have confirmed that the South Yorkshire outfit will not be handed a 15-point deduction next season, which has largely extinguished the threat of a further relegation to League Two.

Wednesday appeared set for a 15-point penalty because Storch's bid fell below the amount required to pay creditors 25p in the pound, but the Championship, League One, and League Two's governing body opted to remove that punishment, as the Owls' new owner made an alternative offer to Chansiri, the main creditor.

As well as acquiring new signings, the S6 club must retain their current assets, such as Max Lowe, whose contract is set to expire this summer.

According to the Sheffield Star, Wednesday have offered Lowe a new deal, amid interest from Championship clubs, and the 28-year-old is open to staying at Hillsborough Stadium despite his side's relegation to League One.

The former Sheffield United defender made 28 second-tier appearances for the Owls this term.

David Storch takes vital action regarding Hillsborough Stadium loan

As well as making reckless financial actions that fast-tracked Wednesday's relegation to League One, former owner Chansiri was neglectful towards key club assets such as Hillsborough Stadium and the Middlewood Road training ground.

Consequently, Storch has been left with plenty of work to do regarding off-field matters, while also vying to assemble a squad that can compete in the upper echelons of the third tier.

As per football finance expert Kieran Maguire via X, Storch has paid off a loan secured against Hillsborough Stadium under Chansiri.

According to the Sheffield Star, the loan was worth around £7million, but could have risen slightly higher with interest.

Kris Wigfield reveals how he thinks David Storch is performing in early days of Sheffield Wednesday ownership

Storch's arrival as the Owls' new owner has embodied a fresh era of hope at Hillsborough Stadium, which was demonstrated by the party atmosphere among the sell-out crowd who witnessed their 2-1 victory over West Bromwich Albion on the final day of the Championship season.

Meanwhile, the fact that Pedersen's side managed just two wins in the second tier this term is indicative of the scale of the rebuild that Arise must oversee.

Wednesday supporter Kris Wigfield is an administrator who has helped keep the Owls afloat in recent months, and told BBC Radio Sheffield how he thinks Storch has performed so far: "Highly professional. Obviously, he has got a track record of being in charge of big businesses in a different industry, in the aviation sector.

"He does things properly, he is clearly going to get the right professionals in at the right levels; we have already seen David Bruce announced as the CEO.

"I know they will bring in other people at executive level. A football director and probably other key positions as well, so they will definitely do everything properly.

"They are definitely going to invest in the infrastructure, the stadium and the training ground. I think Wednesday fans can be pretty excited about what they are going to do in the next few years."