Sheffield Wednesday is out of administration following the completion of its sale to Arise Capital Partners. The EFL confirmed the club met all requirements to exit, and opted not to impose an additional 15-point penalty.
The consortium, led by David Storch, Michael Storch, and Tom Costin, completed the takeover. David Storch said the move was about responsibility to the club and its supporters, vowing to deliver stability and ambition.
Wednesday endured a disastrous season under former director Dejphon Chansiri, receiving 12 points for entering administration and six for financial breaches. The club became the first in EFL history to be relegated as early as February, sitting on minus-three points after 45 games.
Chansiri was banned by the EFL last year from owning or directing any club for three years.