Sheffield Wednesday have been hoping for new ownership at Hillsborough throughout the campaign, and time is running short to make that happen.

The Owls have been in administration for over six months, as Dejphon Chansiri eventually handed over ownership of the Championship club in October, following a near-decade of financial mismanagement that was exacerbated in the final few months of his rule.

The whole 2025/26 season has been a write-off, as points deductions and a depleted team led to Wednesday’s earliest relegation in EFL history in February, when they lost the Steel City Derby to rivals Sheffield United.

Off the field, Begbies Traynor’s administrators have been working hard to secure new ownership. Their initial option, a consortium led by former poker player James Bord, withdrew from their proposal three months after being identified as the preferred bidder, stating that their huge £47.8 million bid could “no longer be justified.”

That happened in late February, and Wednesday was left hunting for new purchasers once more. Just two weeks later, a new company led by David Storch was identified as the preferred bidder, and the cogs have been spinning since that day in mid-March to complete the takeover by the target date of May 1st.

Why do Sheffield Wednesday’s new owners want the takeover completed by May 1st?

May 1st has been a key day in the football calendar since the Football Governance Act went into effect in July 2025.

The new government-created Independent Football Regulator outlined dates when they may intervene to verify that football owners were functioning appropriately. They were able to intercede and take action against them in December, and any new prospective owners must take the Owners, Directors, and Senior Executives test beginning next month.

Currently, David Storch and the rest of his Arise consortium are taking the EFL’s Owners and Directors test, and if the necessary checks aren’t completed by the beginning of next month, the takeover process threatens to drag on even longer, as the process would have to start over under new jurisdiction.

Fortunately, the Sheffield Star has reported in the past week that May 1st remains the target date for the takeover to be completed, citing the desire to avoid changes to the IFR’s tests, as well as the financial complications that would result from entering administration for the seventh consecutive month.

The article does mention that there is still “a great deal of work” to be done, but David Storch has been in the UK this month to attend meetings in the hopes of speeding up the process even further.

Sheffield Wednesday’s final-day decision provides hope for a favorable takeover update. May 1st

Ultimately, only time will tell whether the takeover will be finalized by the beginning of next month, but with arrangements in place for Wednesday’s final game of the season against West Brom at Hillsborough, the club appears to be gearing up to celebrate.

The most costly adult ticket for the game against the Baggies is £20, and the Owls expect a sellout crowd. Wednesday supporters are also urged to wear Hawaiian fancy dress and bring inflatables for ‘Honolulu Wednesday.’

The end of the campaign is a source of relief for Sheffield Wednesday more than anything else, as it will put an end to weekly poor results and a year in which they are unlikely to break into a positive points tally, and the initiatives on display are intended to bring some joy to an otherwise bleak year; however, there may be ulterior motives as well.

The final day at Hillsborough will be a festive atmosphere, following the Arise takeover’s anticipated completion date.

Hopefully, Wednesday fans will be able to enjoy more than just the end of the season, since the dreadful period of administration and the definitive end of Dejphon Chansiri’s stint at the club will also provide reasons to be joyful.