“We have a desire”: David Storch admits Sheffield Wednesday takeover proposal and unveils exciting Owls intentions.

David Storch, an American businessman, has announced that he has made an offer to buy Sheffield Wednesday and has laid out some of his ideas for the club if he is successful in his bid.

Wednesday have been on the market since former owner Dejphon Chansiri placed the club and the firm through which he controlled the stadium into administration in October, effectively ending his troubled decade-long stint at Hillsborough.

The Owls’ administrators had hoped to name a preferred bidder by December 5th, but that process has been delayed in recent weeks, and three parties are now believed to be in the running: Storch, former Newcastle United owner Mike Ashley, and James Bord, who previously worked as a transfer consultant for Sheffield United.

According to reports on Friday, Ashley was set to be announced as the preferred bidder for Wednesday, and because his bid is less than £30 million, the club could face a 15-point deduction in League One next season, but while he is still in the running, the 61-year-old does not appear to be in pole position just yet.

Storch was initially thought to have teamed up with John McEvoy in his bid to buy the Owls, but he has now revealed that he has teamed up with Tom Costin, an investor with the Blue Crow Sports Group, a multi-club football ownership and investment platform with stakes in French side Le Havre, Spanish club CD Leganes, and Mexican outfit Cancun FC in Mexico.

Storch, the founder and managing partner of investment firm Arise Capital Partners, has previously expressed an interest in owning an English club, with Reading, Blackpool, and Cardiff City among his targets, but after submitting an offer for Wednesday on Friday, he will be hoping to close the deal this time.

David Storch speaks up on Sheffield Wednesday ambitions after launching the Owls takeover bid.

In a wide-ranging interview with BBC Radio Sheffield, Storch revealed some of his ideas for Wednesday if he takes over the club, confirming that he would aim to rebuild the stadium and training facilities, as well as establish a proper board structure.

“We have a desire to do things right, that means setting the tone at the top,” Storch reported.

“Excellence in everything we do and a high-quality product at the stadium, training facility, and academy.

“We will hire the proper CEO (chief executive officer). We want to make sure we get the proper sporting director.”

Following the Owls’ financial difficulties in the final months of the Chansiri era, Storch insisted that such problems would not occur under his ownership, stating: “You’ll see that we have a blueprint for proper governance, fan engagement, financial stability, sustainability, and football strategy.

“I’ve fully committed to it, and I’ve required that all of my partners here, as well as my entire team, do the same.

“I believe the academy is important to our plan. We’ll look to improve there so that players have the best training environment possible.”

“We recognise that this is a long journey – this is not a short term fix,” Storch droned on.

“We have faith, Tom and I, that we have enough capital to get this thing going, and our idea is that as we sustain the team and make success on the pitch, getting back up in the Championship, we will be able to raise additional capital.

“I am not doing this to own a football club. I am doing this to make a difference. I want to give folks something to be proud of.

There have been growing concerns that Wednesday will be docked 15 points in League One next season if the club’s new owner does not comply with the EFL’s 25p in the pound rule, which requires unsecured creditors to be paid a minimum of 25p for every pound owed after the club exits administration, but Storch has stated that he will not accept the penalty.

“We’ve submitted an offer. “We believe it is a fair offer that meets our interpretation of the rules and laws of the land,” Storch added.

“We will not proceed with a 15-point deduction. The offer we submitted specifies that we will not accept the 15-point reduction.”

During Storch’s tenure as CEO of aviation company AAR, an employee allegedly bribed the Nepalese and South African governments, resulting in the company agreeing to a $55 million settlement in 2024, but he does not believe this will be a stumbling block in his bid to purchase the Owls, claiming that he has “a 40-year business career that is unblemished.”

Sheffield Wednesday fans will definitely welcome David Storch’s comments amid Mike Ashley and James Bord worries.

Given Bord’s ties to Sheffield United’s poor summer recruiting and rumors that Ashley is willing to accept a 15-point deduction next season, Wednesday fans have grown increasingly apprehensive about the club’s takeover position in recent days.

However, with Storch expressing his big plans for the club, they will have a renewed sense of confidence, and while he will need to back up his bold statements with deeds if he does complete a takeover, he appears to be a credible candidate.

It is no secret that the Owls’ stadium and training ground are in desperate need of renovations, and it has been a long time since they have had a proper structure at board level, so with Storch promising to deliver all of those improvements and speaking of his desire for financial stability, many supporters will undoubtedly be hoping that he is granted preferred bidder status.