Wednesday bidder Storch excited by Owls opportunity

David Storch wants to be the next owner of Sheffield Wednesday.

Having made a bid to buy the Owls last Friday, Storch faces competition from two other parties, including former Newcastle United owner Mike Ashley.

But who is he, and what is his plan for the Hillsborough club?

In an exclusive interview with BBC Sheffield, the American introduced himself and his vision - which appears to be very different from that of former owner Dejphon Chansiri.

"We have a desire to do things right, that means setting the tone at the top," Storch said.

"Having excellence in everything we do and a quality product — at the stadium, the training ground and academy.

"We'll bring in the right CEO (chief executive officer). We want to make sure we bring in the right sporting director."

Chansiri would often baulk at the idea of a sporting director and the club has not had a CEO since Katrien Meire left in 2019.

Storch and Ashley are believed to be joined by Dunfermline owner James Bord in the running to take over at Wednesday.

The Championship club entered administration in October, which ended Chansiri's decade-long ownership.

Joint-administrator Kris Wigfield said in a statement last Friday that "genuine progress is being made" to name a preferred bidder but with 2026 on the horizon, it is unclear who will lead the club into the future.

Storch, who has also worked in the aviation services industry, is the founder and managing partner of investment firm Arise Capital Partners, working alongside his son Michael.

But why are they trying to buy one of English football's most recognisable yet troubled football clubs?

"When we went to the Wednesday game on 5 November (against Norwich), I just couldn't believe the atmosphere, the energy, the singing, the fan engagement," Storch said.

"Here's a team that not only is in the cellar, but you know, for certain, about to be relegated due to the point deductions.

"We came away unbelievably excited about what we saw."

As it happens, Storch has come close to buying several English Football League (EFL) clubs.

"We started focusing on US sports and then we started looking at English football about two-and-a-half years ago," he said.

"We've given serious consideration to three different clubs. We did go down the path with Rob Couhig at Reading. We took a look at Blackpool, although we quickly dismissed that one.

"Then we submitted an offer team with Gareth Bale to buy Cardiff City and actually reached agreement with Vincent Tan to purchase the club. Unfortunately, he decided to hold on and we never got that transaction complete."

Taking on Sheffield Wednesday would be a significant challenge. It is a club that has not been in the Premier League for 25 years.

In that period they have been relegated to League One three times and, given their points deductions in the Championship this season, they will almost certainly make that four.

But Storch has said he has done his homework and has a clear strategy should he take over the club.

"You'll see that we have a blueprint for proper governance, fan engagement, financial stability, sustainability and football strategy," he said.

"I've bought into it 100% and I've insisted that all of my partners here, all of my team that's surrounding me, that they buy into that as well.

"I think the academy is critical to our strategy. We'll look to make improvements there so that players can have the right environment in which to train."

There had been talk of Storch joining forces with another American businessman, John McEvoy - but he revealed his bid for Wednesday has been made in partnership with Tom Costin, the co-founder and managing partner of Owl Ventures.

The company, whose name is a coincidence and not linked to Wednesday's nickname, describes itself as "the largest venture capital firm in the world focused on education technology with over $2 billion assets under management".

Costin is an investor with the Blue Crow Sports Group - a multi-club football ownership and investment platform with controlling interests in French club Le Havre, Spanish side CD Leganes and Cancun FC in Mexico. Costin is also a board director at Le Havre.

"We recognise that this is a long journey - this is not a short term fix," Storch added.

"We have confidence between Tom and I, that between us, we have enough capital to get this thing going, and our plan is that as we sustain the team, and as we start making progress on the pitch, get back up in the Championship, it will be possible for us to go ahead and raise additional capital.

"I'm not doing this to own a football club. I'm doing this to make a difference. I want to give people something to feel proud about."

Storch confirmed he made an offer for the club on Friday and said he is now waiting to hear from the administrators.

The main topic of discussion among fans currently is whether the preferred bidder will meet the EFL's '25p in the pound' rule - which requires that a club exiting administration must pay its unsecured creditors a minimum of 25p for every pound owed - to avoid a further 15-point deduction in the future.

"We've put in an offer. We feel that it's a fair offer and satisfies our interpretation of the rules and the laws of the land," Storch said.

"We will not move forward with a 15-point deduction. The offer that we've put in has a requirement that stipulates that we will not accept the 15-point reduction."

There were also recent reports suggesting the process involving the EFL's 'Owners' and Directors' Test' - plus the introduction of a new football regulator - could be a long one.

While Storch was CEO of AAR, an aviation services company, an employee reportedly bribed the Nepalese and South African governments, leading to the company agreeing a $55m settlement in 2024.

Will that be a stumbling block?

"My lawyer doesn't think so," Storch said.

"The circumstances that happened at the company were rather unfortunate. I have a 40-year business career that is unblemished. This was a lower-level employee that did some things they shouldn't have done. The company self-reported it.

"What I'm all about here is giving the fans something really exceptional, and restoring the past glory. I've never been rejected from anything in my life."