US consortium takes over Sheffield Wednesday

US consortium takes over Sheffield WednesdayImage source, Getty ImagesImage caption, Sheffield Wednesday had been in administration for over six months before the David Storch-led takeover was finally approved ByDale JohnsonFootball issues correspondentPublished2 minutes agoCommentsSheffield Wednesday have announced that US consortium Arise Capital Partners has bought the club, officially bringing to an end Dejphon Chansiri's ownership.The group is led by David Storch, 73, an American executive whose background is in the aviation services sector.The EFL confirmed the news on Saturday, and said they would not impose a 15-point deduction on the club following its exit from administration as this has been "an incredibly challenging and complex situation for all parties". As part of the agreement, Wednesday will remain under budget restrictions for the next two seasons as part of the "conditions of continuing membership in the EFL" but they will still be permitted to sign new players. Storch's son, Michael, and Tom Costin complete the three-man consortium.Costin brings football experience to Wednesday through Blue Crow Sports Group - a multi-club football ownership and investment platform with controlling interests in Leganes from Spain, Le Havre in France and Mexican club Cancun FC.Arise had set a deadline of 1 May, aware that there could further delays if the takeover was not completed before the Independent Football Regulator took control of the new owner process from the EFL on 5 May.The final paperwork was completed on time on Friday before the club announced the takeover was done ahead of their sold-out, final-day game at Hillsborough against West Bromwich Albion on Saturday.The Owls had been in administration since 24 OctoberThat led to an immediate 12-point deduction, with a further six points taken off for charges related to missed payments to players, staff, HMRC and transfer fees due to other clubs. As a result, Chansiri received...