Sheffield Wednesday’s relegation to League One has been confirmed for several weeks, and the focus is now on finding a new owner for their return to the third tier.

The Owls have been in administration since October, when Dejphon Chansiri ended his decade-long reign as Wednesday owner following months of late wage payments to both playing and non-playing personnel, fan protests, and general dissatisfaction with the club.

Given the large number of interested parties, it appeared that the administration process would move quickly, and exclusivity was granted to a consortium led by former professional poker player James Bord in December.

Unfortunately, the group withdrew their bid three months later, claiming that the £47.8 million bid they submitted was no longer justifiable. Many people thought this bid was excessive at the time, but it would have assured that everyone who needed to be paid got paid, and no additional on-field penalty would be imposed.

Any proposal less than £30 million would result in a 15-point deduction for the Owls due to outstanding taxes, as well as other football creditors who must be paid 25p for every £1, including former owner Chansiri, who would be owed around £15 million.

The Storch Group is willing to accept a 15-point deduction to purchase Sheffield Wednesday.

The Storch family appears to be in control right now, as the bidding resumed after James Bord withdrew. According to the Sheffield Star, David Storch is now in the UK and bid a “considerable” sum more than rival Mike Ashley.

According to an update from Alan Nixon, the Storch group is willing to accept the 15-point deduction in order to purchase the club.

According to the article, the leading bidders intend to bid roughly £18 million, which is less than the £30 million benchmark required to avoid on-field penalties.

There were some concerns that the potential of a 15-point deduction would deter the Storch group from making the acquisition, but it is now understood that this will not be an issue.

The reduced bid will result in former owner Dejphon Chansiri receiving significantly less than the planned £15 million, but Sheffield Wednesday will begin the next season in League One with -15 points.

Sheffield Wednesday may have to pay for new ownership through a points deduction in 2026/27.

For Sheffield Wednesday, having a new owner in place is likely more vital than any other conclusion right now, as the club is once again on the verge of insolvency the longer this administration process continues.

Ultimately, the final few years of Chansiri’s reign, combined with the costs of being in administration, have left the Owls with few assets, and, while a £30 million bid would remove any difficulties regarding creditors not being paid what they are owed, it is just no longer a viable option.

In a way, it’s bittersweet. Dejphon Chansiri, who has caused so much misery and turmoil for Wednesday supporters in recent years, hasn’t benefited as much as he would have wanted from this, but it comes at the cost of a -15 point deduction to start next season.

If the Storch family can come in, stabilize the club, and start the rebuilding process, Wednesday should be fine, and a probable slide to the fourth tier for the first time should not be a concern.

It may jeopardize their prospects of returning to the Championship in 2026/27, but that may be the price they must pay to ensure their long-term success.