Relegated Wednesday avoid another points deduction after U.S. takeover

Sheffield Wednesday avoided a fresh 15-point deduction for next season after US consortium Arise Capital Partners completed its purchase of the financially-stricken club on Saturday.

Wednesday, already relegated from English football's second-tier, announced the news on the pitch ahead of their last fixture of the season, at home to West Brom.

They were left with a mountain to climb after being docked 12 points for entering administration in October and a further six in December for repeated late payment of wages under the controversial ownership of Thai businessman Dejphon Chansiri.

By contrast David Storch, who led the US consortium, received a rapturous reception from Owls fans at Hillsborough on Saturday.

"The Joint Administrators of Sheffield Wednesday Football Club Limited are pleased to confirm the successful completion of the sale of the club to Arise Capital Partners LLC, a consortium led by David Storch, alongside Michael Storch and Tom Costin," said a statement.

It added: "As part of this process, the EFL (English Football League) board exercised its discretion, as provided by the insolvency policy, and concluded that it would not be appropriate to impose a 15-point deduction on the club following its exit from administration."

Storch said the club had now been "reborn", saying in a statement: "Sheffield Wednesday deserves stability, ambition and a clear direction. That is what we are here to deliver.

“We know trust must be earned. We are humbled by the opportunity, we take this seriously as stewards of this incredible club – we will approach this with humility, transparency and a long-term commitment to doing things the right way."

In what Owls fans hope will be a sign of things to come, Wednesday marked the takeover with a 2-1 defeat of West Brom.

It was just Wednesday's second league win of the season and meant they finished on zero points after being hard-hit by the deductions earlier in the 46-game campaign.