Sheffield Wednesday takeover news: EFL stance, David Storch message, Hillsborough action taken | OneFootball

All the latest news surrounding the Sheffield Wednesday takeover process

Sheffield Wednesday are still awaiting ratification from the EFL to finalise David Storch’s takeover of the club.

The American formed a group, Arise Capital, that was named as the new preferred bidder by administrators Begbies Traynor earlier this month.

The Owls have been in administration since October, with the initial preferred bidder, James Bord, pulling out of his takeover deal in February.

The Yorkshire outfit have already suffered relegation from the Championship, and will now be hoping to get to work on building a competitive team for life in the third tier.

However, no decision has yet been made by the EFL regarding Storch’s takeover, with the club at risk of a 15 point penalty for the next campaign.

Here we look at all the latest news surrounding the takeover situation at Sheffield Wednesday…

EFL’s Sheffield Wednesday takeover stance

According to the Daily Mail, latest talks between the EFL and Arise Capital last Friday were positive.

The league are confident in the strategy put forward by the prospective new Sheffield Wednesday owners, including business plans, budgets and financing.

However, the potential 15 point deduction penalty is still at the mercy of former owner Dejphon Chansiri, who could waive the money still owed to him by the club so that they can avoid the penalty.

But it remains to be seen whether he would be willing to do such a thing, with it being reported that he is owed £15 million as per the EFL’s rules.

David Storch’s message to Sheffield Wednesday supporters

Storch issued a message to fans following this meeting with the EFL, assuring supporters that talks had gone well and that progress was being made on the completion of his bid to take over the club.

He claimed that a major hurdle had been cleared with the league, with Arise Capital taking a major step towards finalising their deal to buy the Owls.

“I'm pleased that we cleared a major hurdle yesterday as we move towards our goal of taking ownership of this wonderful club by the end of the season,” wrote Storch, via his X account.

“I'm grateful to the EFL and the administrators for such productive conversations this last week.

“I want you all to know that my team and I are working tirelessly, and are absolutely committed to doing everything we can to fight for the best possible outcome for Sheffield Wednesday and our incredible fans.

“Tomorrow, I fly back to the UK for a week of meetings with a wide range of experts to ensure we hit the ground running and deliver on our promises both on and off the pitch.

“I look forward to seeing many of you in Sheffield.

“Please do come over and say hi if you see me around town.”

Begbies Traynor take proactive Hillsborough action

It has been reported by The Star that Begbies Traynor have taken a proactive approach to exploring the introduction of safe standing to Hillsborough.

It’s believed that they have taken these measures in order to avoid any potential timescale issues for the new owners, amid fears that safe standing may be required from next season.

It’s been claimed that talks have been held with the Sheffield City Council’s Safety Advisory Group (SAG), with the possibility of bringing safe standing back to Hillsborough being revisited.

It is hoped that contractors could even be booked quite soon, with work being targeted in areas of the stadium where fans already predominantly stand.

Sheffield Wednesday are aiming for 5,000 safe standing seats at a potential cost of £250,000.

Sheffield Wednesday administrator’s first move revealed

Sheffield Wednesday have been in administration since October, and it has been revealed what Begbies Traynors did when they first took over at Hillsborough.

According to the Daily Mail, the administrators ordered 40 laptops for the club due to outdated computer equipment.

Paul Stanley, one of the joint administrators, claimed that some of the computers were “older than some of the staff.”