PROSPECTIVE Sheffield Wednesday owner David Storch has confirmed that the club will get a 15-point deduction in League One next season if his takeover goes through.
Storch, 73, has penned a lengthy statement , claiming that the much maligned former owner has ignored requests to try and make things easier.
Prospective Sheffield Wednesday owner David Storch has released a passionate statement defending the clubCredit: Shutterstock Editorial
He confirmed the EFL will impose a 15-point penalty in League One for next seasonCredit: Shutterstock Editorial
The Owls, from the in February and still have minus points this season, are described as a club “in distress.”
And Storch is not hopeful of brighter times to come next year either, saying: “Without the right support and a fair regulatory approach, [the club] risks entering what could become one of the most challenging seasons in history.”
Despite this, Storch and his Arise Capital group, are determined to complete a deal before the end of the month.
He has asked for a #FairDealForWednesday from the EFL and committed to “immediately address the serious infrastructure issues” as long as there is a “reasonable approach to to be applied next season.”
Storch has come in to save Wednesday after a consortium led by James Bond had a deal collapse late on.
Ex-Newcastle owner Mike Ashley was then in the mix .
Storch and Co are thought to be backed by Tom Costin, who has previous experience in football with investments in Ligue 1 outfit Le Havre and La Liga side Leganes.
Storch’s full statement
“I want to speak directly to the supporters of Sheffield Wednesday and the wider football community at what is a critical moment for this historic club.
“Over the past several months, my 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 (EFL), we submitted detailed representations just ahead of Easter for consideration by the Board, with the aim of addressing their proposed sanctions and ensuring a fair and proportionate outcome.
“These submissions were supported by powerful representations made by The SWFC Supporters Trust, Clive Betts, Lord David Blunkett and a group of additional MPs.
“Despite these efforts, we have now been informed that a 15-point penalty is set to be imposed at the start of next season. We fundamentally disagree with this decision.
Storch hit out at former owner Dejphon ChansiriCredit: PA
His group outbid Mike AshleyCredit: Reuters
“We also requested the opportunity for this matter to be reviewed through independent arbitration— going as far as offering to cover all associated legal costs ourselves in the interest of transparency and fairness. That request has been denied.
“This is deeply frustrating, not just for us, but for everyone who cares about the future of Sheffield Wednesday.
“What makes this situation particularly difficult is that it is entirely unique.
“A significant portion of the club’s debt sits with its former owner, Dejphon Chansiri, who has not agreed to write down or restructure that debt.
“We have made repeated attempts, through the administrators, to engage with Mr. Chansiri in order to find a constructive resolution. Those requests have gone unanswered.
“At the same time, as our due diligence has progressed, the full scale of the serious infrastructure challenges has become apparent.
“These include inadequate water supply affecting even basic sanitation, and insufficient electrical capacity to support certain essential upgrades.
“The work required is significant and urgent, and likely to result in the need to invest substantial further sums.
“These are issues that Mr Chansiri must have known about for many years, yet we are required to fix them in months.
“Combined with a severely depleted playing squad and coming off such an unsuccessful season, these conditions point to a club in deep distress—one that, without the right support and a fair regulatory approach, risks entering what could become one of the most challenging seasons in EFL history.
“Despite all of this, let me be clear: it remains our absolute intention to complete this transaction by 1 May.
“Sheffield Wednesday is worth saving. We believe in its supporters, its history, and its future.
“And, as we have shown to date, we remain prepared to invest the time, capital, and energy required to rebuild this club properly—from its infrastructure to its footballing foundations.
“However, this is a unique situation, and it requires a fair and proportionate response.
“We are simply asking to be heard properly, for the circumstances to be fully considered, and for a decision that reflects the reality on the ground—not one that risks further harm to a club facing extraordinary challenges and that has already suffered substantial penalties.
“We have today responded in full to the EFL, and have committed that we will immediately address the serious infrastructure issues, on the basis that the EFL agree to .
“I remain hopeful that a constructive path forward can still be found.
“At the same time, I would encourage those who care about the future of the club to make their voices heard in a constructive and responsible way.
“Supporters and the wider football community can play an important role by engaging across social media using the hashtag #FairDealForWednesday.
“Together, we can help ensure that this historic club is given the fair opportunity it deserves.”
Eze Chidiebere Paul
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