"Arise Capital Partners has bought Sheffield Wednesday, officially ending Dejphon Chansiri's ownership. The group is led by David Storch, an American executive with a background in aviation services."
"The EFL confirmed that it would not impose a 15-point deduction on the club following its exit from administration, acknowledging the complexity of the situation."
"Sheffield Wednesday will remain under budget restrictions for the next two seasons but will still be permitted to sign new players as part of the conditions of continuing membership in the EFL."
"The takeover was completed on time before the club's sold-out final-day game against West Bromwich Albion, following a challenging period that included a 12-point deduction."
Arise Capital Partners has officially purchased Sheffield Wednesday, concluding Dejphon Chansiri's ownership. David Storch leads the consortium, which includes his son Michael and Tom Costin. The EFL confirmed no 15-point deduction will be imposed following the club's exit from administration. Sheffield Wednesday will remain under budget restrictions for two seasons but can sign new players. The takeover was completed just before a crucial match against West Bromwich Albion, following a challenging period of administration that resulted in significant point deductions and player sales.
Read at www.bbc.com
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