Sheffield Wednesday have officially exited administration after confirming the completion of their takeover by Arise Capital Partners on Saturday. As a result, the Football League has decided against imposing a 15-point deduction.

The consortium, led by David Storch, Michael Storch and Tom Costin, finalised the deal, with the English Football League (EFL) confirming that all conditions required for the club to come out of administration had been met.

“From the outset, this has been about more than just acquiring a club,” David Storch said in a statement.

“It’s about taking responsibility—for the club, its history, and above all, its supporters.

“Sheffield Wednesday deserves stability, ambition and a clear sense of direction, and that’s exactly what we aim to provide.”

Four-time top-flight champions Sheffield Wednesday have endured a disastrous campaign under former owner Dejphon Chansiri, having been hit with a 12-point deduction for entering administration and a further six points for breaching financial regulations.

As a result, they became the first club in EFL history to suffer relegation as early as February. After 45 matches, they have managed just one win, alongside 12 draws and 32 defeats, leaving them on minus three points heading into the final round of fixtures.

The club will also be relieved to have avoided an additional 15-point deduction following their exit from administration.

“This has been an incredibly complex and challenging situation for all parties involved,” the EFL said in a statement.

“The Board has exercised its discretion under the Insolvency Policy and determined that it would not be appropriate to impose a further 15-point penalty after the club’s exit from administration.

“This decision follows careful consideration of the proposals put forward to Mr Chansiri by the joint administrators and the new ownership group.”

Chansiri, who took control of the club in 2015, was banned by the EFL last year from owning or directing any football club for a period of three years.