David Storch Aims to Acquire Sheffield Wednesday
David Storch is vying to become the next owner of Sheffield Wednesday.
After submitting a bid to acquire the Owls last Friday, Storch is facing competition from two other interested parties, including former Newcastle United owner Mike Ashley.
In an exclusive interview with BBC Sheffield, Storch introduced himself and outlined his vision for the club, which significantly contrasts with that of former owner Dejphon Chansiri.
"We have a desire to do things right, which means setting the tone at the top," Storch stated. "We aim for excellence in everything we do, ensuring a quality experience at the stadium, training ground, and academy. We will hire the right CEO and sporting director to achieve that."
Chansiri had often resisted the idea of appointing a sporting director, and the club has been without a CEO since Katrien Meire departed in 2019.
Alongside Storch and Ashley, Dunfermline owner James Bord is also in the running to take over Sheffield Wednesday, a Championship club that entered administration in October, marking the end of Chansiri's decade-long ownership.
Joint-administrator Kris Wigfield commented last Friday that "genuine progress is being made" toward identifying a preferred bidder. However, with 2026 approaching, the future leadership of the club remains uncertain.
Amazed by Atmosphere Amid Adversity
Storch, who has a background in the aviation services industry, is the founder and managing partner of Arise Capital Partners, working alongside his son, Michael.
Why are they interested in acquiring one of English football's most iconic yet troubled clubs? "When we attended the Wednesday game on November 5 against Norwich, I was blown away by the atmosphere, energy, and fan engagement," Storch recalled. "Here’s a team that, despite being at the bottom and facing relegation due to point deductions, left us incredibly excited about what we witnessed."
Storch has previously explored purchasing several English Football League (EFL) clubs. "We initially focused on US sports but shifted our attention to English football about two and a half years ago," he explained. "We seriously considered three different clubs, including a potential deal with Rob Couhig at Reading, and we reached an agreement with Vincent Tan to buy Cardiff City, though that transaction ultimately fell through."
A Long Journey, Not a Short-Term Fix
Taking over Sheffield Wednesday poses a significant challenge, as the club has not been in the Premier League for 25 years and has faced relegation to League One three times during that period. Due to current point deductions in the Championship, they are likely to face relegation again.
However, Storch asserts that he has conducted thorough research and has a clear strategy in place should he acquire the club. "We have a blueprint for proper governance, fan engagement, financial stability, sustainability, and a football strategy," he stated. "I am fully committed to this vision and have ensured that my partners share this commitment as well. The academy is critical to our strategy, and we plan to make improvements to provide players with the right training environment."
While there was speculation about Storch partnering with another American businessman, John McEvoy, he clarified that his bid for Wednesday is in collaboration with Tom Costin, co-founder and managing partner of Owl Ventures, a leading venture capital firm in education technology. Costin is also an investor in the Blue Crow Sports Group, which has controlling interests in several football clubs, including Le Havre in France and CD Leganes in Spain.
"We understand that this is a long journey, not a quick fix," Storch emphasized. "Tom and I are confident that we have sufficient capital to initiate this project, and as we stabilize the team and make progress on the pitch, we will be able to secure additional funding. My goal is not merely to own a football club, but to make a meaningful difference and give fans something to be proud of."
Our Offer Says We Will Not Accept a 15-Point Deduction
Storch confirmed that he submitted an offer for the club on Friday and is awaiting a response from the administrators. A primary concern among fans is whether the preferred bidder will comply with the EFL's '25p in the pound' rule, which mandates that a club exiting administration must pay its unsecured creditors at least 25p for every pound owed to avoid a further 15-point deduction.
"We have made a fair offer that aligns with our interpretation of the rules and regulations," Storch remarked. "We will not proceed with a 15-point deduction. Our offer includes a requirement that explicitly states we will not accept such a reduction."
Recent reports have suggested that the process involving the EFL's 'Owners' and Directors' Test' and the introduction of a new football regulator could be lengthy. Storch previously served as CEO of AAR, an aviation services company, which faced scrutiny after an employee bribed the Nepalese and South African governments, resulting in a $55 million settlement in 2024.
Will this be a barrier? "My lawyer doesn’t believe so," Storch responded. "The unfortunate circumstances at the company were due to a lower-level employee's actions. I have a 40-year business career that is unblemished, and the company self-reported the incident. My focus is on providing fans with something truly exceptional and restoring the club's past glory. I have never been rejected from anything in my life."