Sheffield Wednesday has been acquired by Arise Capital Partners, a US consortium led by 73-year-old aviation executive David Storch, the club announced on Saturday. The deal officially ends Dejphon Chansiri's ownership, which saw the club enter administration last October.
The English Football League confirmed the takeover and stated it would not impose a 15-point deduction following the club's exit from administration, citing the complexity of the situation. Sources indicate that former owner Chansiri rejected or ignored multiple offers, a factor the EFL considered in waiving the penalty.
As part of the agreement, Sheffield Wednesday will operate under budget restrictions for the next two seasons but can still sign new players. The consortium includes Storch's son Michael and Tom Costin, who brings football experience through Blue Crow Sports Group, which holds controlling interests in Leganes, Le Havre, and Cancun FC.
The takeover was completed just before a deadline on May 1, as the Independent Football Regulator was set to assume control of the new owner approval process from the EFL on May 5. David Kogan, Chair of the IFR, praised the deal as good news for the club, community, and fans who endured prolonged uncertainty.
Sheffield Wednesday had been in administration since October, resulting in an initial 12-point deduction and an additional six points for missed payments. Chansiri received a three-year ban from owning or directing any EFL club. The club's final-day match against West Bromwich Albion at Hillsborough was sold out.