Sheffield Wednesday had been in administration for over six months before the David Storch-led takeover was finally approved
Sheffield Wednesday have announced that US consortium Arise Capital Partners has bought the club, officially bringing to an end Dejphon Chansiri's ownership.
The group is led by David Storch, 73, an American executive whose background is in the aviation services sector.
The EFL confirmed the news on Saturday, and said it would not impose a 15-point deduction on the club following its exit from administration as this has been "an incredibly challenging and complex situation for all parties".
Sources have told BBC Sport that former owner Chansiri rejected or simply did not respond to multiple offers for the club, which the EFL took into consideration when choosing to waive the 15-point deduction.
