US investment consortium Arise Capital Partners has completed its takeover of Sheffield Wednesday, ending the club’s six-month spell in administration and closing the chapter on Dejphon Chansiri’s turbulent decade at Hillsborough
Arise Capital Partners completed its takeover of Sheffield Wednesday, bringing an end to the club’s six-month administration and marking the conclusion of Dejphon Chansiri’s ownership.
The deal announced on 2 May, and confirmed ahead of the Owls’ final Championship fixture against West Bromwich Albion at a sold-out Hillsborough, was ratified by the English Football League (EFL), which simultaneously confirmed it would not impose a further 15-point deduction on the League One-bound club.
The consortium is led by David Storch, a 73-year-old American aviation services executive, alongside his son Michael Storch and business partner Tom Costin. The three-man group operates through Arise Capital Partners, which was named as the preferred bidder in March following the collapse of a rival takeover led by Dunfermline Athletic owner James Bord in February.
Storch said at the announcement: “Ever since we attended the match against Norwich City at Hillsborough on 5 November and saw the excitement and enthusiasm from the fans, we’ve been hooked.
“From the very beginning, this has been about more than an acquisition. It has been about responsibility – to the club, to its history, and most importantly to its supporters. Sheffield Wednesday deserves stability, ambition and a clear direction. That is what we are here to deliver.”
He added: “We know trust must be earned. We are humbled by the opportunity, we take this seriously as stewards of this incredible club – we will approach this with humility, transparency, and a long-term commitment to doing things the right way.”
The completion followed the finalisation of all necessary documentation on the Friday prior, with the consortium conscious any delay beyond 5 May would have brought the newly established Independent Football Regulator into the approval process rather than the EFL.
EFL waives 15-point deduction
Joint administrators Julian Pitts, Kris Wigfield and Paul Stanley of BTG Begbies Traynor – appointed on 24 October 2025 when both Sheffield Wednesday Football Club Ltd and Sheffield 3 Ltd, the separate entity owning Hillsborough stadium, entered administration – confirmed the transaction in a formal statement.
“The sale secures the long-term future of the club and marks the beginning of a new era for Sheffield Wednesday – one built on stability, responsibility, and renewed belief,” the administrators said.
The EFL acknowledged the complexity of the situation in its own statement, noting that it had exercised discretionary powers in waiving the 15-point deduction that would ordinarily accompany a club’s exit from insolvency proceedings.
“This has been an incredibly challenging and complex situation for all parties,” the governing body said. “The EFL Board has exercised its discretion, as provided by the Insolvency Policy, and concluded that it would not be appropriate to impose a 15-point deduction on the club following its exit from administration.”
EFL CEO Trevor Birch added: “Over this period there has been much discussion in relation to the many and varied issues which have arisen, but throughout the process the League has remained focused on engaging with the relevant parties to try and find a solution to secure a stable and sustainable future for Sheffield Wednesday, whilst always acting in the best interests of the EFL and the game more generally.”
Wednesday will nonetheless operate under budget restrictions for the next two seasons as a condition of continued EFL membership, though the club will be permitted to recruit new players within the terms of an agreed business plan.
New era under American ownership
The takeover brings multi-club investment experience into the ownership structure. Tom Costin is affiliated with Blue Crow Sports Group, which holds interests in Spanish side Leganes, French club Le Havre, and Cancun FC in Mexico – providing Wednesday with access to an established international network as they prepare for third-tier football next season.
Wednesday’s relegation to League One – the earliest in English Football League history, confirmed on 22 February with 13 games still to play – was the culmination of a protracted collapse under Chansiri, who received a three-year ban from holding any role at an EFL club.
The club accumulated an 18-point deduction across the season, including 12 points on entering administration and a further six for missed payments to players, staff, and HMRC.
