Sheffield Wednesday have begun a new era under David Storch’s ownership, but the Owls have had an exceptionally difficult Championship season.

The Hillsborough Stadium club was relegated from the second division to League One in February, after they were defeated by cross-city rivals Sheffield United, after being docked 18 points after former owner Dejphon Chansiri forced them into administration.

This season, Henrik Pedersen’s men won only two Championship games, underlining their squad’s lack of depth and skill.

However, Storch’s Arise consortium completed their Wednesday acquisition ahead of the season’s last game, resulting in a celebration atmosphere during the Owls’ 2-1 victory over West Bromwich Albion last Saturday.

Before their match against West Brom, the South Yorkshire club learned that they would not be deducted another 15 points next season.

Wednesday were scheduled to get a 15-point penalty since Storch’s proposal was less than the amount required to pay creditors 25p in the pound.

The EFL ultimately decided against punishing the Owls because Storch proposed an alternate solution to principal creditor Chansiri.

Following the Sheffield Wednesday debacle, the EFL has been asked to review its insolvency regulations.

Now that Wednesday knows they will not be deducted 15 points next season, they can focus on returning to the Championship rather than worrying about relegation to League Two.

However, the Owls are subject to EFL budget constraints, and they must complete a massive rebuild this summer, having seen numerous exits in both of the previous two transfer windows.

Former stars Anthony Musaba and Josh Windass left Hillsborough Stadium last summer, and Wednesday icon Barry Bannan joined promotion contenders Millwall in the winter transfer window.

Meanwhile, following the EFL’s decision to suspend the 15-point punishment that was set to be imposed on Wednesday, former Everton CEO Keith Wyness has urged the Championship, League One, and League Two governing bodies to amend their insolvency policy.

Wyness told Football Insider: “It has to be updated. There is something incorrect with the regulations. Owners are currently engaging in difficult financial engineering.”Chansiri made an initial investment in the club, but it failed in the last two or three seasons.”So that needs to be considered as well. In cases like this, there is seldom a one-size-fits-all solution. Flexibility within guidelines is essential as each individual is unique.That’s what they need to strive to build in, flexibility, and in this case, they had it and used it effectively.”

The EFL was justified to waive Sheffield Wednesday’s point sanction.

Chansiri had already caused significant harm to the South Yorkshire club, causing them to undergo one of the most difficult seasons in their history and leaving supporters concerned about a potential existential danger prior to Storch’s acquisition.

Meanwhile, as reported by Sky Sports, Storch’s multimillion-pound offer to Chansiri played an important role in the EFL’s decision to lift the 15-point deduction.

Regardless of the financial details, Wednesday deserve to begin next season with the same number of points as their League One opponents.

The Owls’ recent troubles were solely due to Chansiri, and players, fans, and Pedersen do not deserve to have the failing owner’s legacy jeopardize their hopes of a successful campaign next season.

As Wyness mentioned, the EFL should consider modifying their rules in this area so that more teams in the future can avoid similar deductions.