The turbulence surrounding the Owls’ takeover continues, as both the Sheffield Wednesday Supporters’ Trust and preferred bidder David Storch have pressed the EFL for answers regarding a potential 15-point deduction.
The Trust confirmed that Storch has reassured them he intends to complete his purchase of Sheffield Wednesday even if the club begins next season on –15 points. Storch, along with his son Michael and business partner Tom Costin, still aims to finalise the deal by May 1 despite major obstacles including the looming points penalty and significant safety upgrades needed at Hillsborough Stadium which they addressed in a statement on Wednesday evening.
In his latest update, Storch reiterated that it is his “absolute intention” to move forward with buying the club, calling Sheffield Wednesday “worth saving,” a message he has also shared directly with the Supporters’ Trust in recent days.
Speaking to The Star, Trust representative James Silverwood said:
“The key message to all Sheffield Wednesday fans is that we’ve spoken directly with David Storch in the last 48 hours, and he has guaranteed that the takeover will proceed regardless of whether the EFL imposes a 15-point deduction. That is the clearest assurance we can give they are going ahead with the purchase.”
Despite the numerous hurdles, Silverwood said the club is “extremely fortunate” to have a determined and forward-thinking prospective ownership group. He also revealed that Storch’s team has committed to ensuring all local creditors receive the required 25p-in-the-pound payment under EFL rules, stressing that they do not want local businesses to suffer.
He added:
“One example of their commitment to rebuilding around supporters and the community is their promise communicated to the Trust within the last 48 hours to pay local creditors in line with EFL regulations. The EFL is well aware that its insolvency policy effectively protects only one person: former owner Dejphon Chansiri, whose mismanagement put Wednesday in this position.”
In his statement, Storch accused the EFL of refusing to budge on the 15-point penalty because the takeover does not meet the 25p-in-the-pound rule a requirement Silverwood argued has “no legal basis in English law.” However, The Star reports that the EFL considers the rule firmly embedded within its regulations.
Silverwood continued:
“In line with Storch’s statement, we are demanding independent scrutiny of the EFL’s insolvency policy. If the EFL truly believed in the strength of its rules, it would welcome arbitration. Instead, by resisting transparency, they appear to be an organisation aware of the weakness of their position an organisation running scared.”
The 15-point deduction could disappear entirely if Chansiri were to withdraw his substantial creditor claim — money he would not receive under the terms of the Storch bid regardless.
When asked for a message to the former owner, Silverwood said:
“Withdraw your claim. If you care about Sheffield Wednesday, that is the right thing to do. And if not, then at least work with your lawyers to reach an agreement with the new owners so we can start next season on zero points.”
