"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. 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."
"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 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."
"The facilities at the club's Hillsborough home are inadequate and require significant and urgent work. Despite the ongoing difficulties, Storch reassured fans the group still intends to complete a takeover by 1 May."
"Sheffield Wednesday is worth saving. We believe in its supporters, its history, and its future."
Sheffield Wednesday will begin the next season in League One with a 15-point penalty. Arise Capital Partners, led by David Storch, is the preferred bidder but their £20m offer falls short for creditors. Storch disagrees with the penalty and requested independent arbitration, which was denied. He highlighted the unique situation of the club's debt being primarily with former owner Dejphon Chansiri, who has not engaged in restructuring discussions. Storch emphasized the need for urgent improvements at Hillsborough and remains committed to completing the takeover by May 1.
Read at www.bbc.com
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