Sheffield Wednesday have suffered a number of points deductions in the EFL this season, but the Owls’ turmoil is far from over, with the Yorkshire outfit set to start next season with negative points.
Sheffield Wednesday are expected to receive points deductions next season (Image: Getty Images)
Plans to take over Sheffield Wednesday are on the brink, with the EFL warning that a further 15-point deduction could cause the deal to collapse.
The club’s preferred bidder, David Storch, has revealed that the EFL has told the club they will be subject to further deductions next season due to the club’s debts to much-maligned former owner Dejayvon Chansiri.
If Mr Storch’s £20m bid to buy the club falls through, it would be worth around 6p in the pound to unsecured creditors, of which Mr Chansiri is the chief. This is well short of the 25p needed to avoid a 15-point deduction next season.
In a lengthy statement, Storch said: “Over the past few months, the team at Arise Capital and I have worked tirelessly, professionally and in good faith to secure the future of Sheffield Wednesday. Following extensive and constructive discussions with the English Football League (EFL), we submitted a detailed representation just before Easter for consideration by the board, with the aim of addressing the proposed sanctions and ensuring a fair and proportionate outcome.”
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“These submissions were supported by strong representations from the SWFC Supporters Trust, Clive Betts, Sir David Blunkett and a group of other MPs.
“Despite these efforts, we have received information that a 15-point penalty will be imposed at the beginning of next season. We fundamentally disagree with this decision.”
“In the interest of transparency and fairness, we also asked for the opportunity to reconsider this matter through independent arbitration, even offering to cover all associated legal costs. That request was denied.”
Storch vowed to remain committed to completing the deal by May 1, but continued to insist that the penalty should not apply due to the club’s position.
The statement added: “What makes this situation particularly difficult is that it is a very unique set of circumstances. A significant portion of the club’s debt is owed by former owner Digifone Chansiri, who has not agreed to write off or restructure that debt. We have made repeated attempts to engage with Mr Chansiri through the management in order to find a constructive solution, but these requests have gone unanswered.”
Sheffield Wednesday are set to feature in League One next season (Image: Getty Images)
“At the same time, as our due diligence progressed, the full scope of serious infrastructure challenges became clear. These include an inadequate water supply that impacts even basic sanitation, and insufficient power capacity to support certain critical upgrades. The work required is important and urgent, and is likely to result in the need for further significant investment. These issues should have been known to Mr. Chansiri for many years, but we need to resolve them within the next few months.”
“These circumstances, coupled with the severe attrition of the squad and coming off such an unsuccessful season, indicate that the club is in serious distress. Without proper support and a fair regulatory approach, we risk heading into what could be one of the most difficult seasons in EFL history.”
Mr. Storch also put the hashtag #FairDealFor Wednesday at the heart of the campaign and called on supporters to join him on social media.
Wednesday’s stay in League One has already long been confirmed, with the Owls now down 18 points this season.
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