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David Storch publicly said he was “thrilled and excited” to take a step toward stewardship of Sheffield Wednesday, describing his group as custodians working alongside supporters. The apparent “limbo” around James Bord’s competing bid is now historical: Bord’s consortium withdrew in February 2026, and Storch’s Arise Capital Partners completed its purchase of the club on 5 May 2026.
What David Storch said about taking over Sheffield Wednesday
Storch’s public remarks in March 2026 conveyed enthusiasm about taking responsibility for the club, but they do not establish his private feelings. In Sheffield Wednesday’s 10 March preferred-bidder announcement, he said: “We are thrilled and excited to take this important step toward stewardship of this historic football club.”
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In a BBC Radio Sheffield interview published on 11 March, Storch said: “I am very sincere when I say the fans will own the club, we will be the custodians.” He also said: “We will be the partners of the fans as we look to restore the glory, and bring hope back to the fans.” Those statements describe the public vision he presented for the takeover: stewardship with supporters and renewed hope.
What happened to James Bord’s bid?
Bord’s consortium withdrew its proposed £47.8 million takeover on 25 February 2026, with Storch’s group still interested, according to BBC Sport’s report on the withdrawal. On 10 March, Sheffield Wednesday’s joint administrators named Arise Capital Partners LLC the preferred bidder. Arise comprised David Storch, Michael Storch and Tom Costin.
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The administrators said Arise had provided a substantial deposit and evidence of funds. It had also agreed to fund trading losses after eight weeks if the sale remained incomplete. They called its proposal the strongest received in the renewed process. The two bids therefore had different outcomes: Bord’s proposal was withdrawn, while Arise’s proceeded to completion. The available reporting does not establish that their funding or terms were equivalent.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.When the takeover completed—and what the deal meant for creditors
BBC Sport reported approval of the takeover between 2 and 5 May. The administrators formally announced completion on 5 May 2026 in their completion statement. The sale did not remain in limbo after Arise was selected.
The administrators said Arise’s offer was below the amount needed to repay creditors 25 pence in the pound. They described it as the best available outcome at that point, while acknowledging that it did not provide the same creditor return as the earlier proposed transaction. That is a material qualification to the successful sale; completion did not mean creditors reached the 25-pence threshold.
What happened with the EFL points deduction?
The administrators said the EFL used its discretion not to impose a 15-point deduction following the club’s exit from administration. BBC Sport reported Sheffield Wednesday would begin the upcoming season on zero points. This was the regulatory outcome for this sale and administration, not a general rule that clubs avoid points deductions in future cases.
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What Storch said he intended to prioritize
In a later letter shared by the club, Storch outlined plans to build a leadership team, invest in the training ground and infrastructure, improve supporter experiences, and operate within an agreed financial framework for two seasons. The letter also described a league-approved operating budget, no ownership equity funding and a defined transfer-fee budget. These are the club’s stated operating intentions in that letter, not independent financial analysis of the club’s prospects.
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