How did Sheffield Wednesday avoid 15-point deduction?

Breaking news from the world of sport: How did Sheffield Wednesday avoid 15-point deduction? Figure caption, Selling Sheffield Wednesday - watch the story of the club's desperate fight for survivalByDale Johnson Football issues correspondentPublished15 minutes agoSheffield Wednesday's supporters had accepted their fate some time ago. Not just relegation from the Championship, but also starting next season in League One on -15 points.

That deduction seemed set in stone because Arise Capital Partners, who on Saturday completed a takeover of the beleaguered South Yorkshire club, were not going to meet obligations to pay unsecured creditors. The EFL's insolvency policy required those debts to be settled to 25p in the pound, but the offer from Arise had fallen well below that level. So, on top of the 18 points deducted this season for entering administration and other financial breaches, the Owls looked likely to start next season adrift at the foot of the third tier.

Match Details

Even so, a sell-out crowd - dressed in a Honolulu party theme - flocked to Hillsborough for Saturday's 2-1 win over West Brom. The fans were there to herald the new ownership, a consortium led by David Storch, his son Michael and Tim Costin. Supporters were told to get into the ground early - and were not disappointed.

After the group had been introduced, the big screen changed to show "-15" points, then ticked on to -14. As the countdown continued, the Wednesday fans cheered louder and louder. And then it reached zero.

Out of nowhere, the Owls had two huge reasons to celebrate - new owners, and no points deduction. But how did they pull it off? Owls turn to sports legal expert De Marco On 15 April, David Storch had put out a statement which left fans fearing the worst.

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The American businessman said the 15-point penalty was "set to be imposed" and a request for arbitration had been "refused" by the EFL. The details of what happened next may never be fully revealed, but Storch did what so many clubs do when taking on the establishment - he turned to Nick De Marco. De Marco is considered one of the leading sports lawyers, who in 2020 helped the Owls get a points deduction related to financial fair play reduced from 12 points to six.

A case as complicated as this - weighing up the interests of the club, the EFL and former owner Dejphon Chansiri - needed De Marco. Chansiri had made a claim for £64m in loans, meaning Arise would need to pay £16m to satisfy the 25p in the pound rule. Storch and his team were not comfortable paying Chansiri for failure, especially because so much money needed to be spent on the infrastructure of the stadium and the training base.

Was there a way around this which would satisfy the EFL? Deferred debt offer put to Chansiri's team Image source, Getty ImagesImage caption, Hillsborough requires huge investment to bring up to modern standardsReaching an agreement with Chansiri was never going to be easy.

The story has climbed to the top of the sports agenda, with fans and analysts following closely.