Sheffield Wednesday have been purchased by American investment group Arise Capital Partners, marking the conclusion of Dejphon Chansiri's tenure at Hillsborough.
The English Football League confirmed the transaction on Saturday, announcing it would not apply an additional 15-point penalty following the club's emergence from administration.
The governing body described the situation as "an incredibly challenging and complex situation for all parties" when explaining its decision to waive the potential deduction.
Wednesday, who dropped into League One after entering administration in October, will operate under financial constraints for the coming two seasons as a condition of their continued EFL membership, though they retain the ability to recruit new players.
The consortium is headed by David Storch, a 73-year-old American businessman with extensive experience in aviation services.
His son Michael joins him in the ownership group alongside Tom Costin, forming a three-person partnership.
Costin contributes significant football industry expertise to the venture through his involvement with Blue Crow Sports Group, a multi-club ownership and investment platform.
Sheffield Wednesday have been purchased by American investment group Arise Capital Partners, marking the conclusion of Dejphon Chansiri's tenure at Hillsborough
|GETTY
The group holds controlling stakes in several clubs across different leagues, including Spanish side Leganes, French outfit Le Havre, and Cancun FC in Mexico.
This international football network provides Wednesday with connections to an established multi-club structure as they prepare for life in the third tier.
The Owls had been operating under administration since 24 October, triggering an immediate 12-point deduction from their league tally.
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| PAA further six points were subsequently removed due to charges relating to unpaid wages to players and staff, outstanding HMRC obligations, and transfer fees owed to other clubs.
Chansiri has been handed a three-year prohibition from owning or serving as a director at any EFL club as a consequence.
Despite these substantial penalties, the points deductions proved irrelevant to Wednesday's ultimate fate, with most senior squad members departing either before or during administration.
A loss to Sheffield United on 22 February sealed the earliest-ever relegation in English football history, with 13 matches still remaining.
The new owners had established 1 May as their deadline for completing the acquisition, conscious that any delays beyond 5 May would bring the Independent Football Regulator into the approval process rather than the EFL.
| GETTYThe new owners had established 1 May as their deadline for completing the acquisition, conscious that any delays beyond 5 May would bring the Independent Football Regulator into the approval process rather than the EFL.
All necessary documentation was finalised on Friday, allowing the club to announce the completed deal before their sold-out final home fixture against West Bromwich Albion.
Storch had previously lost out to Dunfermline Athletic owner James Bord when preferred bidder status was awarded in December.
However, when Bord's proposed takeover fell through just three days after the Sheffield derby defeat, Storch re-entered negotiations with administrators to secure the purchase.