Sheffield Wednesday are expecting to see light at the end of the tunnel after entering administration in October.

The Owls have had a catastrophic year both on and off the pitch as a result of financial mismanagement by previous owner Dejphon Chansiri.

However, a new owner has been identified: David Storch leads a group called Arise Capital that is attempting to buy the club.

The preferred bidder fended off interest from Mike Ashley during negotiations with administrators Begbies Traynor, and it is now hoped that EFL confirmation will follow.

Henrik Pedersen’s squad has already been formally relegated to League One, with minus six points from 39 games.

Sheffield Wednesday received a 12 point deduction punishment for going into administration, as well as a further six points for financial regulation violations.

Sheffield Wednesday administrators take Hillsborough action.

The Star claimed that Begbies Traynor has adopted a proactive approach to investigating the work required to introduce safe standing at Hillsborough.

It is thought that the administrators took this technique to avoid any timing constraints for the new owners.

Safe standing may be required as early as next season, and with the takeover not yet completed, it is unclear whether the new owners will be able to implement these stadium changes on time.

The North Stand was temporarily closed prior to the start of this campaign, but a solution was found just days before the first game.

According to reports, the club has met with Sheffield City Council’s Safety Advisory Group (SAG) to discuss the idea of adopting safe standing.

The club is trying to target places where fans already stand during games, with prior proposals from 2024 estimating 5,000 seats at a cost of £250,000.

Contractors may be booked soon, with work beginning before the new campaign.

The new Sheffield Wednesday owners will most likely have to spend in the club’s infrastructure as well as the first-team squad, which will include Hillsborough after years of underdevelopment.

It is hoped that the Storch proposal would be approved in time for the summer transfer window to start, but no formal decision date has been set.

The Owls’ next game is at Stoke City on April 3rd, with a 3pm kickoff.

Hillsborough will require investment from new owners.

Sheffield Wednesday’s new owners will have their job cut out for them once their takeover is finalised.

Investing on the team is obvious given how uncompetitive it has grown over the previous year, but they will also need to invest in infrastructure.

The implementation of safe standing would be a solid step toward improving the level at Hillsborough, a stadium that has suffered from a lack of investment under Chansiri.

Safe standing has been successful in other areas of English football since its reinstatement, and achieving it this year will be a great step forward for the Owls.