Progress has been reported in efforts to sell the troubled English football club Sheffield Wednesday, with the head of an American private equity group scheduled to meet with team staff this week, according to UK media reports.
Arise Capital Partners, a consortium headed by investor David Storch, is the preferred bidder for the club, which has been waiting for a new owner to replace Thai investor Dejphon Chansiri since the side entered administration in October last year.
Mr Storch said he had held “productive conversations” with the Football League as the crisis-hit club edges closer to a new era, The Mirror reported.
Attempts to sell the club have dragged on, with Arise stepping in after a proposed £47.8-million deal with a group fronted by former professional poker player James Bord fell through in February. The value of the Arise offer has not been disclosed.
Fans of Wednesday resorted to mass boycotts of home matches to force out Mr Dejphon after the club’s finances reached crisis point in mid-2025.
Wednesday were subsequently deducted 18 points for financial governance breaches and could face further sanctions next season if the new owners cannot move quickly to settle the club’s debts — including £15 million owed to Mr Dejphon.
The Owls are resigned to starting next season in League One — the third tier of English football — as their miserable campaign on the pitch winds down.
Wednesday are currently in last place in the Championship with 1 win, 9 draws and 29 losses for -6 points, taking into account the points deduction.
Founded in 1867, Wednesday is one of England’s oldest professional football clubs with a rich early history including FA Cup wins and League titles.
It was a founding member of the Premier League in 1992, but it was relegated in 2000, followed by years of financial instability and fluctuation between the Championship and League One.
Mr Dejphon, whose family controls the SET-listed seafood giant Thai Union Plc, acquired 100% control of Sheffield Wednesday in January 2015 for a reported £37.5 million.
The takeover aimed to return the club to the Premier League, and he was estimated to have invested £167 million in the years following the purchase.
Before the club entered administration, Mr Dejphon had been looking to sell Wednesday for £100 million, a price considered high for a club deep in financial crisis.
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Dejphon Chansiri, whose family controls the SET-listed seafood giant Thai Union Plc, acquired Sheffield Wednesday in 2015 for a reported £37.5 million. (Reuters File Photo)
