Sheffield Wednesday have been in takeover limbo for some months, but there are indications that this could change in the coming weeks.

The Owls’ current condition is largely the result of mismanagement in the later years of Dejphon Chansiri’s dramatic and contentious 10-year tenure as Hillsborough chairman.

Wednesday has been under the joint control of Paul Stanley, Julian Pitts, and Kris Wigfield of Begbies Traynor since October 24th, when the Thailand-based businessman brought the aforementioned period to a much-needed close by putting the South Yorkshire outfit into administration.

Unsurprisingly, considering the Steel City side’s overall stature and heritage in English football, several high-profile business personalities have been extensively linked with takeover offers throughout the process – which has had its fair share of twists and turns.

Indeed, despite the fact that Mike Ashley, David Storch, and John McEvoy were frequently mentioned in takeover reports in late 2025, Begbies Traynor granted preferred bidder status to James Bord, who led a consortium that made a £47.8 million offer.

However, immediately after Wednesday suffered the earliest-ever relegation in EFL history on February 22nd, following only one win all season and an overall deduction of 18 points, Bord’s consortium announced its withdrawal from the process.

The administrators, on the other hand, emphasized that the process would not be restarted and that they hoped a resolution to the issue would be found as soon as possible.

And, in a surprising change of circumstances before of Henrik Pedersen’s side’s match against Watford in S6 on Tuesday night, there has been another twist – this time one that appears to be beneficial to supporters.

David Storch has emerged as the front-runner in the second Sheffield Wednesday preferred bidder campaign.

That’s because, according to the Sheffield Star, the aforementioned Storch has emerged as the front-runner for the position of second preferred bidder.

It had been thought that the American would face a two-horse fight with Ashley, who has been looking for a first step back into football ownership for nearly five years since selling his majority position in Newcastle United for £305 million to Saudi Arabian investors.

Storch had earlier failed to outbid the Bord-led bid in December, following reports that he had teamed up with McEvoy to become one of the club’s new owners.

However, after Bord withdrew his offer from the process, Storch indicated confidence in his ability to reach an agreement with BBC Radio Sheffield, and it has since been revealed that he is currently in the driver’s seat to be awarded such status.

It has been stated that the man who was previously linked with a takeover of Plymouth Argyle is collaborating with Tom Costin to put together a successful bid. Costin also owns shares in Le Havre, CD Leganes, and Cancun FC.

Storch is also supposed to be on UK soil and may be present at Hillsborough for the match against Watford, although Ashley has been widely reported to have been outbid despite putting the lowest bid by a significant margin.

Sheffield Wednesday fans will hope David Storch’s proposal has a different end after James Bord fiasco.

As things stand, this is undoubtedly good news for Wednesday fans, as the club seeks to provide some stability ahead of next season in League One.

New investment might mean that all present transfer and registration limitations are lifted, which would be a significant boost in what would otherwise be a difficult season due to the club’s high level of player and staff turnover.

Although Ashley is more recognized in the circles of English football ownership, the 61-year-old continues to divide opinion, whereas Storch does not at this time.

However, supporters will be hopeful that the takeover process goes smoothly from this point on, following the turbulence that unfolded in the closing weeks of Bord’s tenure as preferred bidder.