Sheffield Wednesday takeover news: Kris Wigfield update, 'positive' Storch takeover development | OneFootball

Football League World rounds up all the latest takeover news from Sheffield Wednesday

Sheffield Wednesday remain in administration and were handed their 29th defeat of the Championship campaign when they were beaten 3-1 by Hull City on Saturday.

David Storch is undergoing the EFL's Owners' and Directors' Test, having been named as the Owls' preferred bidder, and is hopeful of completing his takeover by May.

If Storch's transaction is not completed by May, he will then be subject to the Independent Football Regulator's ownership tests.

Crucially, the American's bid to buy Wednesday fell short of the amount required to pay creditors 25p in the pound, so the South Yorkshire side will be handed a 15-point deduction next term.

The Owls have already been docked 18 points this season, thanks to the severe financial mismanagement overseen by former owner Dejphon Chansiri.

Meanwhile, Football League World has taken a look at the latest takeover developments at Hillsborough.

Kris Wigfield addresses Sheffield Wednesday supporters in statement

Wednesday supporters are constantly seeking updates on the future of their club amid one of the toughest campaigns in their history.

The Owls faithful are hoping to see their side earn their second league win before the Championship season ends, but off-field developments have become more important.

Administrator Kris Wigfield posted an update via X on Saturday: "This process has been an emotional roller coaster. Five months of highs and lows.

"Moments of real progress, followed by unexpected setbacks. That’s the reality of complex situations: nothing moves in a straight line. Today, things feel positive. Still work to do."

Sheffield Wednesday handed positive update about EFL spending restrictions

One of the main challenges that Wednesday are set to face in League One next season, alongside their points deduction, is that their weekly wages are set to be capped at £7k per player.

Such restrictions will decrease the Owls' chances of avoiding a further relegation to League Two, but Storch's Arise consortium have appointed sports lawyer Nick De Marco, who could challenge the EFL's sanctions against the Hillsborough outfit.

BBC Radio Sheffield's Rob Staton reported on X on Saturday: "Understand talks continued through the week between Sheffield Wednesday's administrators, Arise Capital and the EFL, discussing the spending restrictions for next season. At this stage, all parties seem to feel positive about those talks."

The Sheffield Star have added that talks between the Arise consortium and the EFL have been going well, and further meetings are set to take place in the coming days.

Storch and Co are said to be confident that they will pass the Owners' and Directors' Test, and have moved quickly to supply documents and information.

Henrik Pedersen hails loyal Sheffield Wednesday supporters amid administration struggles

Owls fans have been subject to an incredibly difficult season, in which their side have lost several key players over the last two transfer windows, including club legend Barry Bannan, who joined Millwall.

The Wednesday faithful have witnessed their side win just one game in 39 Championship attempts, and were left particularly hurt when their side's 2-1 defeat to Sheffield United in the Steel City Derby at Bramall Lane relegated Henrik Pedersen's side to League One.

Despite their side's poor performances, which have largely come down to the fact that Pedersen's squad is down to bare bones, Owls fans have still turned out to support their side in numbers since Chansiri's exit.

While fans still wait for a takeover at Hillsborough, the Wednesday boss hailed their commitment during their defeat to Hull as he told the Sheffield Star: "It was a little bit of a challenge for me to get contact with the players sometimes, because we couldn't hear anything because they were singing so much.

"But it was amazing. I have said this before. This unconditional love, what they're showing everyone around this club, it is amazing. They were amazing today."