EFL Imposes 15-Point Penalty on Sheffield Wednesday Over Takeover Bid

Sheffield Wednesday's preferred bidder has been formally informed by the EFL that the club will start next season with a 15-point penalty.

“- Published The EFL has informed the preferred bidder for Sheffield Wednesday that the club will start next season in League One with a 15-point penalty”

BBC

The sanction stems from EFL regulations requiring any takeover bid to return at least 25 pence in the pound to existing creditors.

BBC

Arise Capital's £20million offer will represent about 6p in the pound to unsecured creditors, of which former owner Dejphon Chansiri would be the major beneficiary.

Storch said the group fundamentally disagree with this decision and requested independent arbitration, which was denied.

The situation is entirely unique because a significant portion of the club's debt sits with the former owner who has not agreed to write down or restructure that debt.

Despite the penalty, Storch reassured fans the group still intends to complete a takeover by May 1.

Storch described the facilities at Hillsborough as inadequate and requiring significant and urgent work.

The full scale of the serious infrastructure challenges became apparent during due diligence.

GB News

These include inadequate water supply affecting basic sanitation and insufficient electrical capacity to support essential upgrades.

These are issues that Chansiri must have known about for many years.

Combined with a severely depleted playing squad, these conditions point to a club in deep distress.

Storch pledged to invest the time, capital, and energy required to rebuild the club properly.

The takeover bid was supported by powerful representations from The SWFC Supporters Trust and several MPs.

“Sheffield Wednesday's prospective new owners have been informed by the EFL that the club will start next season with a 15-point deduction”

talkSPORT

Storch appealed for a #FairDealForWednesday.

Despite ongoing difficulties, the consortium remains prepared to invest in the club's future.

Sheffield Wednesday have already suffered 18 points in deductions this season.

This contributed to the earliest Championship relegation on record.

Next term, they face the prospect of dropping to the fourth tier for the first time in their 149-year history.