Sheffield Wednesday’s new owner is scheduled to be announced today, according to talkSPORT.

David Storch, a US billionaire, is in the closing stages of his £20 million takeover.

Storch has flown in to seal the deal ahead of the season’s final sold-out home game against West Brom tomorrow.

It brings a pleasant end to a disastrous season for the Owls, who were relegated at the earliest possible date in English Football League history.

Following months of unpaid tax bills and wages, the club went into administration in November 2025, prompting owner Dejphon Chansiri to leave.

With a devastated roster and two consecutive 18-point deductions, Wednesday enters the last day of the Championship season on -3 points and a goal difference of -61, having only won once all season.

If they lose or draw tomorrow, they would become the first team in England’s top four tiers to go a whole season without winning at home.

While Storch’s takeover marks a long-awaited new era, the nightmare is far from over.

The Owls will start the 2026/27 League One season with -15 points as the American declined to meet the ’25p-in-the-pound’ criterion by covering a quarter of Chansiri’s debts.

It would have cost Storch an additional £15 million to comply with the rule, with Chansiri due £60 million, and the businessman, like talkSPORT’s own Simon Jordan, thinks the requirement is ludicrous.

He criticized the decision to dock Wednesday’s points, stating, “We are being asked to hand over millions to the individual who created this catastrophe.”We refuse to put the past regime’s profit ahead of Sheffield Wednesday’s survival and reconstruction.

He continued, “The regulation is being administered as a blunt instrument. We only ask for a judgment that represents the facts on the ground, rather than one that risks more harm to a club that has already suffered enough.”

However, the EFL refused the club’s request for arbitration, despite Storch’s offer to pay all legal fees.