David Storch completes 'UK banking' work as Sheffield Wednesday takeover nears | OneFootball

Sheffield Wednesday have taken a further step closer to completing the takeover led by David Storch

David Storch is hoping to complete the takeover of Sheffield Wednesday by 1 May as the Championship season draws to a close.

The Owls have been in administration since October, but the group led by Storch have been the preferred bidders to purchase the club since March following James Bord's failed deal to purchase the Steel City club.

An agreement was reached with Begbies Traynor, and work is being made to complete the deal before the Independent Football Regulator steps in on 5 May.

The EFL are undergoing their current checks on prospective new owners, but the IFR will take over those duties next month, which could lead to delays in the bid to get the deal finalised.

It has already been confirmed that Sheffield Wednesday will have a full house at Hillsborough for their final game of the campaign, with anticipation building among supporters.

A new dawn is on the horizon for the Yorkshire outfit, who have suffered relegation to League One as a consequence of the financial mismanagement under previous owner Dejphon Chansiri but can begin looking forward to a new era if Storch and co can wrap up a takeover.

David Storch takes significant step forward in Sheffield Wednesday takeover

It has been reported by The Star that Storch has travelled to the UK this week to finalise some minor details of Arise Capital’s bid to buy the club.

It’s believed that he has formalised the group’s banking arrangements, which will be needed for the completion of the takeover.

This is a minor step towards finalising Storch’s bid to buy the Yorkshire outfit, but a significant move in the context of the 1 May deadline.

Confidence remains high behind the scenes at Sheffield Wednesday that the takeover will be completed in time for this weekend’s clash against West Brom.

A sold-out crowd is expected for what could be a very celebratory atmosphere, with supporters excited for the future of the club.

It has been a difficult campaign on the pitch, with relegation to League One suffered as a result of their off-field issues.

Henrik Pedersen’s side are bottom of the Championship table, and have won just one of their 45 games so far.

The Dane took charge in the summer, with financial issues plaguing the squad before going into administration in October.

Sheffield Wednesday have yet to win at home this season, and will be hoping to put that streak to an end when they host the Baggies on 2 May in a 12.30pm kick-off.

Sheffield Wednesday should meet 1 May deadline

The 1 May deadline for Storch to complete the takeover looks likely to be met at this stage, which is an exciting prospect for fans.

It’s been a very difficult season, but this latest step indicates that the end is almost near, with confidence high that Storch will be in charge by Saturday.

Any delays with the process moving to the IFR would be frustrating, and could be a huge setback in terms of their preparations for next season, so getting the deal done this week will be massive.

The atmosphere this weekend against West Brom will not be like anything seen by an already relegated side in quite some time, and should offer some optimism for the future of the club.