Sheffield Wednesday are preparing for life in League One with new owners Arise Capital.

The Owls had a dreadful season due to off-field troubles, including entering administration last October.

Dejphon Chansiri, the previous owner, oversaw major financial troubles during his final years at Hillsborough before David Storch supervised the club’s takeover, which was completed earlier this month.

The American will be seeking to give long-term stability and investment to Yorkshire, which is looking to rebuild and return to the Championship.

It was previously believed that the money owing to the Thai billionaire would not be paid as part of the buyout, resulting in a 15-point deduction penalty for next season.

However, Arise Capital was able to evade this punishment, ensuring that Sheffield Wednesday will begin the following season with a clean slate under Henrik Pedersen.

New information about Sheffield Wednesday’s arrangement with Dejphon Chansiri

The Star said that Sheffield Wednesday’s arrangement with Chansiri included an incentive scheme based on the club’s on-field achievements.

According to the EFL’s insolvency laws, the previous Owls owner was owed around £15 million after entering administration.

They specify that all unsecured creditors must be paid 25p each pound owing, which equated to the eight-figure sum for Chansiri.

Failure to achieve this condition would have resulted in a 15-point deduction penalty for following season, severely limiting the team’s ability to play in League One.

However, Arise Capital avoided penalty by making a good-faith offer to Chansiri in exchange for bonuses rather than the £15 million.

The 57-year-old is projected to receive little or no money from this bonus system, given he missed the deadline for accepting the arrangement by a matter of minutes.

It is thought that the bonuses included a payout to Chansiri if the club was promoted, while the other unsecured creditors received 25%.

This puts an end to any concerns that the Yorkshire club will struggle to adjust to life in League One following their relegation this year.

It has also been stated that Storch has already made his first cash injection to Sheffield Wednesday, paying approximately £12 million.

Sheffield Wednesday’s new era begins now.

The 2-1 victory over West Brom on the penultimate day of the season was a watershed moment for the club, signaling the start of a new era.

That new age has officially begun with Storch’s monetary injection, and a new CEO, David Bruce, has already been appointed.

More behind-the-scenes appointments are likely throughout the summer, during what promises to be a hectic period at Hillsborough.

The bonus system offer made to Chansiri was a fantastic piece of business, and the fact that he missed his deadline to accept it means that it is now his responsibility that he is unlikely to earn anything from Sheffield Wednesday as part of this takeover, which is the amount he deserves.