What David Storch has promised Sheffield Wednesday fans after takeover breakthrough | OneFootball

David Storch has been named as the new preferred bidder for Sheffield Wednesday

David Storch has been named as the new preferred bidder to buy Sheffield Wednesday.

The American was originally linked with a takeover prior to the consortium led by James Bord reaching an agreement with the administrators in December.

But the former poker player’s attempt to buy the Owls collapsed in February, which reopened the bidding process.

Storch has fended off interest from Mike Ashley to become the new prospective owner of the Championship side.

The 73-year-old will be taking his first step into football ownership if the takeover is ratified by the EFL.

Sheffield Wednesday will be planning for life in League One, with Henrik Pedersen’s side already officially relegated from the second division.

David Storch issues message to Sheffield Wednesday supporters

Storch has issued a statement following confirmation that his bid has been chosen by Begbies Traynor as their preferred option to take over Sheffield Wednesday.

The 73-year-old has outlined his ambitions for the Owls, promising a brighter future for the team and its supporters after a tumultuous last 12 months under Dejphon Chansiri.

“We are thrilled and excited to take this important step toward stewardship of this historic football club,” said Storch, via the club’s official website.

“As we continue through this process, we are looking forward to working with the local community, engaging transparently with fans and embarking together on this journey to restore Sheffield Wednesday to its rightful place.

“We are absolutely committed to delivering a brighter future for our fans and bringing joy back to Hillsborough.”

Sheffield Wednesday have been in administration since October following significant financial mismanagement under Chansiri.

However, it’s been reported that Storch’s offer will not fulfil the EFL’s requirement to pay all of the club’s creditors at 25p on the pound, which is likely to incur up to a 15 point penalty for next season.

The American businessman’s offer is understood to be a little below £20 million, which is significantly below the £30 million reserve price set by the administrators.

However, supporters will be glad that there is now some light at the end of the tunnel, as it has been a very difficult last 12 months for the team.

Several key players have departed over the last year, and the club have gone from finishing 12th in the table in 2025 under Danny Rohl to already being officially relegated from the Championship.

Sheffield Wednesday have already received up to 18 points worth of deduction penalties from the EFL this season, which has left the team on minus six points with only nine games to go.

But Pedersen’s side ended their losing run on Tuesday night with a 1-1 draw at home to Watford.

A 90th minute goal from Vivaldo Semedo dashed their hopes of a second win of the season after Jerry Yates had given the Owls a 1-0 lead in the 54th minute.

Next up for Sheffield Wednesday is a home clash against promotion-chasing Ipswich Town on 14 March in a 3pm kick-off.

David Storch news is a big breakthrough for Sheffield Wednesday

Sheffield Wednesday are nearing the end of this terrible period in the club’s history, and confirmation of Storch’s takeover will be the beginning of a new era.

Fans will be glad to finally see the back of Chansiri for good, as he proved a disastrous owner for the Owls.

Storch will have a lot of work ahead of him to turn things around at Hillsborough, and heavy investment in the squad and infrastructure will be needed.

It could take some time, but this offers fans the hope that the side can be competitive again in the near future.