Reaction given to David Storch's Sheffield Wednesday takeover update - 'I get why people are worried' | OneFootball

FLW's Sheffield Wednesday fan pundit has given his reaction to prospective owner David Storch's statement on the latest takeover situation.

Arise Capital Partners are closing in on their takeover of Sheffield Wednesday, but it seems there may be more pain to come for Owls supporters.

Almost six months on from former owner Dejphon Chansiri's exit in late October, Wednesday remain in administration, but they moved a step closer to securing new ownership when Arise Capital Partners were named as the preferred bidder last month.

Arise are aiming to complete their takeover of the Owls by 1st May, but as that date approaches, there may be further hurdles to overcome in the next few weeks before a deal is finalised.

With Wednesday's prospective new owners unwilling to meet EFL rules that state that creditors must be paid 25p in the pound - regulations that would have seen Chansiri receive around £15 million from the sale - it has long been reported that the club could be hit with a 15-point deduction in League One next season.

Those fears were confirmed on Wednesday night when David Storch, who is leading Arise's takeover bid, revealed on social media that the EFL are planning to impose the sanction, something that he said he and his business partners "fundamentally disagree" with.

Storch claimed that attempts to reach out to Chansiri and get him to restructure his portion of the club's debt have gone "unanswered", while he also took aim at the Thai businessman, who he believes was aware for many years of "serious infrastructure challenges" behind the scenes at Hillsborough.

David Storch backed for strong Sheffield Wednesday statement as EFL stance criticised

When asked for his reaction to Storch's statement, FLW's Sheffield Wednesday fan pundit Patrick McKenna praised the American businessman for challenging the EFL, but he admitted that he has some concerns about Arise potentially walking away from the takeover deal.

"To be honest, I wish it was a statement he didn't have to make," Patrick told FLW.

"The fanbase has been interpreting it in different ways.

"Some are getting quite worried about it because they see it as an ultimatum and a danger that he will walk away.

"To be honest, I'm kind of caught in two minds about it.

"I still do have faith that they want to push this deal over the line, but I get why people are worried and see a more negative outcome.

"I think that Storch is taking the right approach here, he is exposing the EFL.

"Their stance on this points deduction is ludicrous, and hopefully this will put more pressure on them.

"He has highlighted in their ignorance in not even considering an independent arbitration, which shows that they have something to hide.

"They know deep down that forcing through a points deduction as if it's mandatory is pathetic.

"I think it's needed.

"If the EFL are going to be like that, then call them out, and that is exactly what Storch is doing.

"He clearly suffers no fools, and he is highlighting the fact that the EFL are a bunch of fools."

EFL must reconsider Sheffield Wednesday points deduction stance amid David Storch pressure

While EFL rules state that Wednesday must be given a 15-point deduction upon exiting administration if their 25p in the pound rule is not satisfied, it could be argued that a common sense approach should be applied in this situation.

The Owls have already suffered plenty of damaging consequences for Chansiri's mismanagement of the club, and with the former owner no longer in control at Hillsborough, it would be unfair to further punish the club and fans for his actions.

It seems that Storch is a credible candidate to buy Wednesday, with genuine plans to get the club back on track, so the EFL are also risking his Arise consortium pulling the plug on their takeover deal if they go ahead with imposing fresh sanctions.