Sheffield Wednesday’s prospective owner, David Storch, has disclosed when he plans to complete his takeover of the Hillsborough club.

The Owls avoided loss for the first time this year, drawing 1-1 with Watford on Tuesday, and are looking forward to a bright future once they are out of administration.

Storch outbid Mike Ashley to become Wednesday’s preferred bidder, and he has been allowed a period of exclusivity to complete the purchase.

The South Yorkshire club has already been relegated to League One, and Storch will face a difficult task in preventing the Owls from dropping to League Two next season if his takeover is successful.

David Storch aims to buy Sheffield Wednesday in time for a successful transfer window.

As reported by the Sheffield Star, Wednesday’s weekly salaries will be capped at £7k per player next season, making them less competitive in the third division.

Meanwhile, the Owls will be docked 15 points next season since Storch’s bid fell short of the amount required to pay the creditors at 25p per pound.

Wednesday has been docked 18 points this season and will be relieved to see the end of the campaign, but next season will again present difficult obstacles.

In better news for Owls fans, Storch told BBC Radio Sheffield: “We’d like to get this done as soon as possible.” We will focus on the procedure and hope to complete it successfully.We want to be ready to play in the June transfer window, so we plan to complete this as early as possible in May. I’ve been blessed. “I have been successful in my life’s work, and we have a good financial plan that includes investments we believe are necessary to compete, which will see the team return to the Championship and possibly beyond.”We have the funds available, and we are thrilled about it.”

Storch’s words suggest that the Owls could be purchased by May 1st, putting an end to the uncertainty that has plagued the Hillsborough club in recent months.

The Arise Capital Partners LLC consortium consists of David Storch, Michael Storch, and Tom Costin. David and Costin were at Wednesday’s draw with Watford.

David Storch’s developments reveal light at the end of the tunnel for Sheffield Wednesday.

The Independent Football Regulator will have the authority to sanction club takeovers by May, which means Storch’s consortium could face checks and balances from the new body rather than the EFL’s Owners’ and Directors’ test.

Meanwhile, Wednesday has endured years of difficulty under the unsuccessful ownership of Dejphon Chansiri, and has faced more challenges in management in recent months.

But speaking to BBC Radio Sheffield, Storch gave supporters fresh optimism by revealing: “When we first met folks from the Supporters’ Trust, they shared with us a paper they had created called A Better Wednesday, and we looked through it and realized it was exactly how we wanted to behave and operate as owners.

“In fact, as we began the process of submitting our proposal, I had our entire team, including our bankers, lawyers, accountants, and consultants. I had them read A Better Wednesday to familiarize themselves with the subject and expected behavior.Michael (Storch) and I, along with our colleague Tom Costin, prioritize fan engagement in order to engage players, fandoms, and communities.They will definitely have a voice.

Should Storch keep his word, Wednesday will enter a promising age of transparency, the polar reverse of the unpleasant experience they had under Chansiri.