Sheffield Wednesday: Mike Ashley will be waiting in the wings as David Storch uncertainty looms

Sheffield Wednesday’s preferred bidder David Storch has released a statement that could point to Mike Ashley being primed to take over as the new owner of the Championship club soon.

Storch is leading the Arise Capital consortium that has been named as Wednesday’s preferred bidder in the last few weeks.

They have seemingly been edging ever closer to completing a takeover and becoming the new owners, but the EFL’s latest action has plunged the move into uncertainty.

Arise have been informed that the Owls will start next season on minus 15 points in League One as their purchase price of £20million falls well short of the 25p in the pound owed to unsecured creditors.

Storch is clearly not happy about that prospect, and Ashley could well be back in contention to seal a deal to take over at Hillsborough soon.

David Storch could pull out of Wednesday deal with Mike Ashley a potential replacement

Storch took to X on Wednesday to release a statement detailing his grievances with the EFL and their plan to impose another hefty points deduction on the club next season.

The American businessman dismissed the proposals as “deeply frustrating” and insisted that the Arise consortium will do all they can to reverse it.

He stated that their “absolute intention” remains to complete a takeover deal, but the statement certainly had an air of uncertainty about it, and Arise could well walk away if the EFL do not budge.

The potential for that to happen surely leaves Ashley primed and ready to return to the table for the Owls, after previously being named as a front-runner to be their preferred bidder last year.

He would not be a popular choice among Wednesday supporters, but would likely still proceed with a deal even if they head into the third tier on minus 15.

Not only that, but the fact that he was outbid by Storch and Arise would surely not matter, as the EFL are planning to deduct those points regardless, with even the highest offer not being enough to fulfil their financial requirements for exiting administration.

What do Wednesday fans think of Storch’s statement?

Speaking to Football Insider last month, former Everton CEO Keith Wyness slammed Wednesday’s administrators for how slowly the takeover process has taken.

Storch and Arise want to complete a deal for the club by 1 May, with many Owls supporters still keen to see them take over.

In response to his statement on X, one fan said: “My heart stopped for a second, I thought you were pulling out! I can assure you that you have our backing, you’re saving our club, of course we can have patience.”

Another added: “Stick with us! Give us sensibly priced tickets and we’ll turn up in MASSIVE numbers and give those players EVERYTHING! After the past 8 years of neglect, we don’t mind a longer term plan for progression!”

Those supporters could end up desperately disappointed if Storch and Arise do walk away from the deal and Ashley returns to contention soon, which seems more likely than ever if the EFL continue to hold their current stance.

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