We want to bring hope back to fans - Storch

David Storch, one of the men at the helm of the new preferred bidder hoping to buy Sheffield Wednesday, says they want to "bring hope back to the fans".

Administrators at the relegated Championship club have begun an exclusive period of negotiation with American private equity company, Arise Capital Partners.

The consortium is led by Storch and his son Michael, and Tom Costin who were one of three bidders back in December.

"I am very sincere when I say the fans will own the club, we will be the custodians," Storch told BBC Radio Sheffield in an exclusive interview.

"We will be the partners of the fans as we look to restore the glory, and bring hope back to the fans.

"When we first met the Supporters Trust, they shared with us a document they had produced called 'A better Wednesday'.

"We felt that this is exactly how we want to behave as owners, and I had all our bankers, accountants and consultants read it, too. The fans are crucial, and they will have a voice."

The takeover, which has been welcomed by the club's Supporters Trust, is now subject to EFL scrutiny.

The consortium have paid a "substantial deposit" for the deal and evidence of funds to complete the takeover, including to cover the club's losses for eight weeks, allowing them to continue trading.

"We'd like to get this done as soon as possible," Storch added.

"We have to go through a process and we're going to put the 'full court press' on from our side.

We want to be ready to play in the June transfer window, so our goal is to have this done very early May.

"I've been blessed that I've been successful in my life's work, and we have a good financial plan which includes investments that we feel are required to compete and see the team get back to not just the Championship, but maybe even beyond that.

"We have the capital available and we're excited about it."

Storch confirmed that initial investment will come from himself and Costin, but admits for the club to enjoy sustained success, they will need additional investors.

"When you look at the breadth of investment required to live out our dream of getting back into the Championship, and then up into the Premier (League), it's going to require capital," Storch said.

"Our plan is once we've stabilised the club, and invested in the squad and the stadium, at that stage we will be a much bigger club, and at that stage we'll look for additional capital to help us live out our dream."

Sheffield Wednesday are already preparing to play in League One following their relegation last month.

They were deducted a total of 18 points this season, firstly for going into administration and then further financial breaches, leaving them 27 points adrift at the bottom of the table.

They could also begin life back in League One with a 15-point deduction.

Arise's offer is not set to meet the EFL's requirement to repay creditors 25p in the pound, including £15m to former owner Dejphon Chansiri, which would trigger the further points deduction.

Storch says he is restricted to what he can say at the moment.

"We know this is very important to supporters, and it's very important to us," he added.

"While we aren't at liberty to discuss it, what I can assure you is that we will do everything we can to put ourselves in the best position possible as we enter into next season."

The consortium watched Tuesday's 1-1 draw with Watford at Hillsborough and Storch said it had just reinforced their passion for the club and the fans.

"This is such an historic and exciting club," he added.

"When you look at the history, when you look at where this club have been, and you watch the fanbase.

"We came in November and at the time the team were at bottom of the table and assured of relegation, but still there were over 28,000 fans chanting and cheering and singing, and you couldn't help but come away and feel it. It's just infectious.

"We'd looked at other clubs, and there was nothing like what we saw here at Sheffield Wednesday. You really have to be here to feel the fan engagement, and we came away and said it would be great to do the right stuff for the fans."

Storch admits there are plenty of areas of improvement needed at the stadium, training ground and the squad if they were to take over.

"We want to put a competitive team on the pitch, and deliver a more fan-friendly environment for the fans," he said.

"It's going to require investment across the board."

The consortium confirmed they would soon begin the search for a new CEO, sporting director and commercial officer.

The previous preferred bidder, a proposed £47.8m deal led by former professional poker player James Bord collapsed after two months. So can Storch give fans assurances that their bid will go through?

"I can't speak for the last preferred bidder, but I can speak for us and I can tell you we are very committed," Storch said.

"When we weren't the named preferred bidder last time, we never lost hope.

"When it did re-emerge, we worked through many nights, its been very intense, but it's been worth the effort."