Sheffield Wednesday have had a very eventful previous year, with Dejphon Chansiri’s financial mismanagement, the club falling into administration, and two prospective new owners stepping forward.

A syndicate fronted by former poker player James Bord was initially chosen the favored bidder by administrators Begbies Traynor, despite heavy competition from a number of investors.

However, their deal collapsed in February, leaving the consortium led by David Storch as the next in line to purchase the Owls.

The group, Arise Capital, is still seeking EFL approval to complete its takeover, but there is hope that there is now light at the end of the tunnel.

While Henrik Pedersen’s side has been demoted to League One and may face a 15-point deduction for the following season, a new, bright dawn is finally on the way.

And supporters have every reason to believe that another huge bullet was avoided with recent revelations regarding John Textor, who was also linked with taking charge at Hillsborough.

Sheffield Wednesday will be relieved to avoid the John Textor debacle.

It was claimed in the summer that Textor was in talks with Chansiri about acquiring Sheffield Wednesday before the club went into administration in October.

The American was previously a Crystal Palace shareholder through his company Eagle Football Holdings, and it was speculated that he was looking for a takeover at Hillsborough in order to return to English football.

Given how badly things were going under Chansiri, practically anyone was regarded as an upgrade over the Thai businessman.

However, in the months after, it has become increasingly evident that a Textor takeover would have simply exacerbated the situation.

The 60-year-old has also owned Botafogo in Brazil and Lyon in France, which has sparked controversy.

It was speculated in January that he could lose ownership of the Serie A team, having already suffered the same fate with Lyon, just a few months after his probable takeover of Sheffield Wednesday.

And now his authority over Eagle Holdings Football has evaporated, with the firm being placed into administration by its primary creditor, Ares Capital Corporation.

With the Owls seeking to emerge from administration in the coming weeks, the contrast in fortunes serves as a sharp warning that the next awful owner is always around the corner.

Sheffield Wednesday fans will be thrilled with the David Storch outcome.

Storch has spoken of a hopeful new owner in recent weeks, visiting Hillsborough to speak with employees and making plans for when the takeover is finalized.

It pales in compared to Bord’s consortium’s lack of urgency and transparency, which spent two months failing to get their plan accepted by the EFL.

Of course, Storch must still walk the walk and deliver on his promises when the time comes, but there is more enthusiasm at Hillsborough than there has been in a long time.

Sheffield Wednesday may not play in the Championship next season, but the short-term anguish of relegation will certainly outweigh the long-term pain that could have been avoided had Textor taken control last year.

The American was also linked with a takeover at Derby County, and both teams will be relieved to have avoided this situation.

While his time with Crystal Palace included an FA Cup victory, he had little participation in the team’s development or the choice of Oliver Glasner as head coach.

The ruin and chaos he brought to Botafogo and Lyon were the result of his significantly more active role as owner.

And Sheffield Wednesday will no longer have to worry about the potential harm he could have caused at Hillsborough as a new era dawns for the Yorkshire club.