Sheffield Wednesday are attracting financing from US businesspeople in addition to the already announced trio of David Storch, Michael Storch, and Tom Costin.
US businessmen who have spent a’significant amount’ in Sheffield Wednesday’s takeover have been disclosed, with more on the way, The Star understands.
Wednesday was acquired out of administration by US consortium Arise Capital Partners over the weekend, with directors David Storch, Michael Storch, and Tom Costin revealed as the club’s new owners on Saturday in front of a sell-out Hillsborough crowd.
It has since been found that the firm that purchased the club, SWFC Sports Holdings, is a subsidiary of Steel City Sports Fund, LP. It is understood that this has been established up as a holding company to pump finances into the club, which includes a number of investors, as well as to facilitate the movement of shares. It is known that the acquisition was structured to include many companies, most likely for business reasons. The corporation is registered at the location of Arise Capital Partners.
David Storch is one of three individuals that control ten percent or more of Steel City Sports Fund. The other two are US businessmen Tim Bacich and John Ross, who reports say have invested’significant sums’ in Sheffield Wednesday. The Star is made to understand that more investment from individuals has yet to be disclosed. Both are noted for their enormous net worth.
Tim Bacich grew up in St. Louis, Missouri, and attended the University of Connecticut. He was a successful collegiate soccer player and is now the Executive Chairman of BioTAB Healthcare, which he created in 2003. Over the years, he has expanded the company from treating patients in Missouri to providing durable medical equipment nationally. The Star is told that BioTAB is now the industry’s second largest company, trailing only a publicly traded corporation. Bacich also co-founded Pacific Valley Dairy (PVD), a dairy start-up that he sold six years later in 2010.
John Ross is also a sports fan, and he is believed to have attended Saturday’s season-ending victory over West Brom. Another native of St. Louis, he runs the JSR Holding corporation, which is largely a commercial real estate corporation with a portfolio of office and retail properties in the area. He is also a passive owner of numerous joint real estate enterprises and has a stake in a few private equity investments.
According to the club website, David Storch, Bacich, and Ross are the principal interest holders in the holding company, each having 10% or more. Storch is said to be the primary shareholder.
A legal page on the site states, in part, that Sheffield Wednesday Football Club is owned by Wednesday 1867 Limited (company no. 17111133), a wholly owned subsidiary of SWFC Sports Holdings 2026 Limited (company no. 17106486). SWFC Sports Holdings 2026 Limited is a wholly-owned subsidiary of Steel City Sports Fund, LP (a Delaware limited partnership).
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