Breaking news: David Storch returns with revised multi-million proposal for Sheffield Wednesday

Sheffield Wednesday may have officially entered a new era under David Storch, but the shadow of former owner Dejphon Chansiri still lingers over the club.

Chansiri’s tenure ended in turmoil, with the Owls falling into administration earlier this season and receiving an 18-point deduction that ultimately sealed their relegation to League One.

His failure to meet financial obligations—including delayed wage payments—also contributed to key departures, with manager Danny Rohl and players like Josh Windassand Djeidi Gassama leaving the club last summer.

On the pitch, the impact was clear, as Wednesday managed just two Championship wins all season. However, their 2-1 victory over West Bromwich Albion on the final day provided a rare positive moment for supporters.

Fresh offer adds new twist

By the time of that final fixture at Hillsborough Stadium, Storch’s Arise Capital consortium had completed its takeover, marking a significant turning point. Fans were also given a major boost when it was confirmed that the club would avoid a further 15-point deduction next season.

That potential penalty had been linked to the structure of the takeover deal, particularly whether creditors—including Chansiri—would receive 25p in the pound. However, a new development has changed the situation.

According to reports, Storch has tabled a multi-million-pound offer to Chansiri, which played a key role in the English Football League deciding to remove the additional points deduction.

Storch had previously refused to meet Chansiri’s demands in full, arguing that doing so would significantly inflate the overall cost of acquiring the club—especially given the financial damage left behind.

Conditions attached to the deal

The latest proposal is understood to be conditional, with payment linked to the club securing an immediate return to the Championship. The offer is also time-sensitive, with a deadline set before the end of the month.

This could represent Chansiri’s final opportunity to recover a portion of his financial outlay following a turbulent and widely criticised spell in charge.

Relief and a reset

Despite the continued involvement of the former owner in negotiations, the mood around the club has shifted significantly. The removal of the 15-point deduction has been widely welcomed, giving Wednesday a clearer path to rebuild in League One.

Storch himself has publicly praised the EFL for their role in resolving the situation, highlighting the collaborative effort required to finalise the takeover and stabilise the club.

For supporters, the focus now turns firmly to the future—hoping this marks the end of a difficult chapter and the beginning of a more stable and successful period at Hillsborough.