Overview
- Arise Capital’s David Storch said Wednesday the EFL informed the club they will begin the 2026–27 League One season on minus 15 points.
- Under EFL insolvency rules, clubs avoid the sanction only if unsecured creditors get at least 25p in the pound, yet Arise’s roughly £20m offer amounts to about 6p with most liabilities tied to former owner Dejphon Chansiri.
- Storch said his request for independent arbitration was refused and he still aims to complete a takeover by May 1 after paying about £2m for exclusivity.
- The Sheffield Wednesday Supporters’ Trust plans to ask the new Independent Football Regulator to review the decision, arguing a penalty of this scale needs an independent hearing.
- The EFL has not commented publicly as it continues talks with administrators, and a tight timetable looms with a May 1 takeover target, the regulator beginning work on May 5, and fixtures due to be released on June 25.