Sheffield Wednesday hours away from long-awaited £20million takeover by US businessman

Crisis club Sheffield Wednesday are expected to have a new owner today, talkSPORT understands.

The £20million takeover by US businessman David Storch is at the final paperwork stage.

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Storch has flown in to complete the deal ahead of Wednesday’s final sold-out home game of the season with West Brom tomorrow.

It marks a positive end to a catastrophic campaign for the Owls, who suffered the earliest ever relegation in English Football League history.

The club entered administration in November 2025 after months of unpaid tax bills and wages, forcing hugely unpopular owner Dejphon Chansiri out of the club.

With a decimated squad and two separate deductions worth 18 points, Wednesday enter the final day of the Championship season on -3 points with a goal difference of -61, having claimed just one victory all season.

If they lose or draw tomorrow, they will set another unwanted record as the first team in the top four tiers of English football to go an entire season without a home win.

And while Storch’s takeover signals a long-awaited new era, the nightmare is not over just yet.

The Owls will begin their 2026/27 League One campaign on -15 points after the American refused to meet the ’25p-in-the-pound’ rule by covering a quarter of Chansiri’s debts.

It would have cost Storch an extra £15m to satisfy the rule, with Chansiri owed £60m, and much like talkSPORT’s very own Simon Jordan, the businessman believes the rule is ridiculous.

Hitting out at the decision to dock Wednesday more points, he said: “We are being asked to hand over millions to the individual who created this catastrophe.

“We refuse to prioritise the enrichment of the former regime over the survival and rebuilding of Sheffield Wednesday.”

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He added: “The rule is being applied as a blunt instrument. We are simply asking for a decision that reflects the reality on the ground—not one that risks further harm to a club that has already suffered enough.”

However, the EFL denied the club’s request for arbitration, despite Storch offering to cover all legal costs.

More to follow.