The joint administrators of Sheffield Wednesday Football Club have officially named Arise Capital Partners LLC as the new preferred bidder to take over the historic club. The US-based consortium is led by aviation executive and billionaire investor David Storch, alongside his son Michael Storch and investor Tom Costin.
This development follows the collapse of a previous takeover bid by a consortium led by James Bord last month, which had plunged the club’s future into uncertainty.
Key Details of the Bid
While the selection of a preferred bidder provides a much-needed path toward stability, the deal comes with significant financial and sporting implications:
- Exclusivity Agreement: Arise Capital Partners has entered into an exclusivity period with the club’s administrators (Begbies Traynor). As part of this, the consortium has committed to funding the club’s trading losses for eight weeks if the transaction is not finalized within that timeframe, ensuring the club can continue to operate normally during the regulatory process.
- Potential 15-Point Deduction: The offer submitted by Arise Capital Partners—while deemed the strongest available—does not meet the threshold required to avoid a sporting penalty. Under English Football League (EFL) regulations, new owners must pay non-football creditors 25p in the pound to avoid an automatic deduction. Because the current bids do not satisfy this requirement—specifically the £15 million owed to former owner Dejphon Chansiri—the club is currently set to start the 2026-27 League One season with a 15-point deduction.
- Administrators’ Stance: The joint administrators acknowledged that while the offer does not deliver the same level of creditor return as previous proposals, it remains the “best available outcome currently achievable” to secure the club’s long-term future.
Who is Arise Capital Partners?
The consortium brings together significant investment experience:
- David Storch: Founder and managing partner of Arise Capital Partners and former CEO/Chairman of the global aviation services company AAR Corp.
- Michael Storch: Managing Director of Arise Capital Partners, with a background in corporate finance and leadership at AAR Corp.
- Tom Costin: Co-founder of Owls Ventures, who also maintains investments in a multi-club network (including stakes in clubs in Spain, France, and Mexico).
The consortium’s bid was selected after edging out competition from other parties, including a rival bid from former Newcastle United owner Mike Ashley. The next steps involve the group passing the EFL’s “Owners’ and Directors’ Test” before the transaction can be officially completed.