Sheffield Wednesday fans can finally breathe a sigh of relief. After months of uncertainty and the looming threat of a 15-point deduction to start next season in League One, the Owls will now begin the campaign on zero points. Here's how they pulled off this remarkable turnaround.
Relegation from the Championship was painful enough, but the prospect of starting the new season with a severe penalty seemed inevitable. The club's new owners, Arise Capital Partners, appeared unwilling to meet the EFL's insolvency requirements to pay unsecured creditors 25p in the pound. That left Wednesday facing a double blow: 18 points deducted this season for administration and financial breaches, plus another 15 next season.
But football has a way of delivering drama when you least expect it. On Saturday, a sell-out crowd at Hillsborough—many dressed in Honolulu party gear—gathered not just for the 2-1 win over West Brom, but to welcome the new ownership consortium led by David Storch, his son Michael, and Tim Costin. The atmosphere was electric from the start.
The moment that truly stunned everyone came when the big screen displayed "-15" points, then began counting down. With each number, the crowd roared louder. When it hit zero, the stadium erupted. In one unforgettable moment, fans had two reasons to celebrate: new owners and a clean slate.
Just weeks earlier, Storch had warned that the 15-point penalty was "set to be imposed" and that the EFL had refused arbitration. But behind the scenes, the club turned to a familiar ally: Nick De Marco, one of the most respected sports lawyers in the game. De Marco had already helped Wednesday reduce a 12-point deduction to six in 2020, and this time, he worked his magic again.
The details of the negotiations remain murky, but De Marco navigated the complex interests of the club, the EFL, and former owner Dejphon Chansiri—who had claimed £64 million in loans. In the end, Wednesday emerged with their points intact and a fresh start.
For the fans, it's a victory as sweet as any win on the pitch. And for the Owls, it's a chance to rebuild—on and off the field.