David Storch’s consortium is the preferred bidder for crisis club Sheffield Wednesday and has been waiting for a new owner to replace Digiphone Chansiri since coming to power in October.
Sheffield Wednesday are still waiting for the takeover to be completed (Image: Stuart Leggett/Getty Images)
Sheffield Wednesday owner candidate David Storch says he has had “productive conversations” with the Football League as the crisis-hit club approaches a new era. Mr Storch’s consortium was the preferred bidder on Wednesday and is looking for a new owner following the disastrous reign of Digiphone Chansiri.
The Owls have been in power since October and are now nearing the end of a miserable season and preparing to start next season in League One. Storch, his son Michael and Tom Kostin, who lead American private equity firm Arise Capital Partners, are working to complete the deal.
The process has dragged on, with Storch’s group stepping into a vacuum after James Board’s group dropped out in late February. Wednesday was deducted 18 points earlier this season, and the threat of further sanctions complicates matters.
A 15-point penalty could apply for the 2026/27 season under EFL rules requiring Wednesday’s creditors, including Mr Chansiri, to be paid. The club is heavily in debt and Storch and fellow investors are in ongoing negotiations with the EFL over their future direction.
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“I am delighted to have cleared a major hurdle yesterday as we move towards our goal of gaining ownership of this great club by the end of the season,” he wrote in X. “I would like to thank the EFL and administrators for such a productive conversation last week.”
“I want everyone to know that my team and I are working tirelessly and are fully committed to doing everything we can to get the best possible result for Sheffield Wednesday and our amazing fans.
“Tomorrow I will return to the UK to take part in a week of meetings with a range of experts to ensure we deliver on our commitments on and off the pitch. I look forward to seeing many of you in Sheffield and if you see me around town please stop by.”
Dejayvon Chansiri’s ownership was a disaster for the club (Image: 2018 Getty Images)
Storch’s consortium paid a “significant deposit” to become the preferred bidder and is keen to close the deal. “We want to get this done as quickly as possible,” he told BBC Radio Sheffield in early March.
“We have to go through a process and we are going to implement a ‘full-court press’ from our side. We want to be ready to play in the June transfer window, so our goal is to have this completed in early May.”
He has been trying to connect with his supporters, some of whom are wary after the unrest under Thai businessman Chansiri. “We are listening and collaborating with talented Wednesday fans across the city to ensure we deliver a best-in-class fan experience,” Storch wrote in X earlier this month.
“As we continue to work hard to be stewards of this unique and historic club, please know that we will do everything we can to create a ‘better Wednesday’ and a brighter future for everyone involved with Sheffield Wednesday.”
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