Sheffield Wednesday kicked off a new chapter with a 2-1 victory over West Brom on Saturday afternoon.

The completion of David Storch’s ownership of the Yorkshire club was announced prior to kick-off at Hillsborough, where a sell-out crowd attended their first match as owners.

Nathanial Chalobah and Liam Palmer scored to give the team its first home victory of the season, and only their second overall.

Henrik Pedersen’s side concluded the season with 0 points, having been punished 18 by the EFL for entering into administration in October and breaking their financial rules.

The new owners also announced that the Owls escaped a 15-point deduction penalty, which was expected for next season.

It was stated that an offer was made to previous owner Dejphon Chansiri, who was about to miss out on the £15 million payout he was entitled as part of the takeover, and that this offer prevented the points deduction.

Simon Jordan raises the Sheffield Wednesday takeover point.

Simon Jordan claims that the EFL’s policy regarding the 15-point deduction penalty is a guideline rather than a rule, and that going through the administration process should suffice as punishment.

He emphasized the disadvantages that teams experience as a result of their current financial situation, and suggested that the EFL reconsider this policy in the future to prevent other clubs from suffering at the hands of a former owner.

“This was guidance; no other business in the world offers a safety net for someone on their way out,” Jordan told Talksport.

“So the person who put the football club in a difficult situation gets a safe position of 25p on the pound; the EFL imposed that rule because they have a group of low-resolution thinkers in their governance who cry and scream like stuffed pigs because they’ll say it’s a disadvantage to us.

These clubs go through administration, come out the other side, are able to expand swiftly, and do not suffer any negative consequences.

“They appear to ignore the fact that most football clubs that enter financial administration have already incurred significant penalty.

“They’ve lost all their best players, they’ve lost all their facilities, they’re already in decay and disrepute and ultimately the money that can be invested in them is going to go out the door to the previous owner.”

Jordan opened up about his negotiations with the EFL, stating his view on eliminating this guidance while also asserting that a reasonable solution had been found to enable Sheffield Wednesday move on from the Chansiri era.

“When I spoke to the Football League, I said it’s a stupid policy, and you know it’s a stupid policy, it’s a badly constructed one, it’s not even a policy, it’s not even a rule, it’s guidance,” he continued.

“And have some balls and let Sheffield Wednesday work their way through it.

“And the clear position was going to be very simple: go to Chansiri and say, ‘we’re going to take a 15-point penalty and you’re going to get nothing, or you get something on a deal that makes sense to us, that gives us some upside when we get some upside, and you might get some money because you’re going to get nothing right now.'”

“And that’s what’s been done, and the EFL have been able to find a way to wave it through.”

Sheffield Wednesday were initially intended to be taken over by a group managed by James Bord, who had agreed to a £47.8 million agreement with administrators Begbies Traynor in December.

However, that transaction failed, and Bord became the next prospective owner in March.

Arise Capital, an American corporation, completed their ownership of the club in May and will now attempt to rebuild the team in preparation for League One next season.

Henrik Pedersen will continue in command, with the Owls aiming to return to competitive status as soon as possible.

Sheffield Wednesday can now move on from the Dejphon Chansiri period.

Sheffield Wednesday’s sensible decision was to start from scratch under new ownership, and that viewpoint has finally triumphed.

This episode has strained relations between Jordan and the EFL, and it would not be surprising if their policy changed as a result.

Owls fans will now be able to move on from the Chansiri period, after months of waiting for a solution to their administration.

The Thai billionaire ran the Yorkshire outfit into the ground, and it is a violation of the regulations that he could have benefited from their poor financial situation when that money should have been reinvested in the game itself.