US consortium takes over Sheffield Wednesday
Summary
Sheffield Wednesday football club has been bought by a US group called Arise Capital Partners, ending the previous owner Dejphon Chansiri’s time in charge. The club was in financial trouble and under administration for over six months before the takeover was approved.Key Facts
- Arise Capital Partners, led by David Storch, bought Sheffield Wednesday.
- The English Football League (EFL) confirmed the sale and did not penalize the club with a points deduction.
- The club had been in administration since October 24, leading to a total 18-point deduction.
- Previous owner Dejphon Chansiri was banned for three years from owning or directing any EFL club.
- Sheffield Wednesday was relegated early to League One during the financial troubles.
- The club must follow budget rules for the next two seasons but can still sign new players.
- The takeover deal was completed before a deadline to avoid delays from a new regulator.
- Tom Costin, part of the new ownership group, has experience in football club management.
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