Owls missed out on signing Morgan Fox before the transfer window closed after Charlton Athletic snubbed three offers from the Championship club for the left-back.
It is believed Wednesday lodged the bids for Fox earlier this week, with one in the region of £2million, but the Addicks rejected them all.
Several second-tier clubs have been monitoring Fox’s situation. The Welsh Under-21 international has come through the ranks at The Valley, racking up 93 appearances for the South Londoners.
The full-back impressed as Charlton failed to retain their Championship status last season.
Meanwhile, Marnick Vermijl has joined Preston for an undisclosed fee, thought to be in the region of £600,000. He featured 12 times in his 18-month Owls spell.
Vermijl, who spent the majority of last season on loan with Preston, said: “It took some time to get it sorted but in the end we got there. I’m happy to sign three-years here, I had a great time last season so now that I know the club, I know how it works and I know everyone at the club, it will make it a lot easier.
“If I look at how I enjoyed last season, I can only say good things about it so I’m really happy that I’m back here, so let’s start playing!”
Lilywhites boss Simon Grayson has expressed his delight over bringing Vermijl back to Deepdale.
“Marnick is a player we enjoyed working with, he is still young and his is hungry and versatile and we know what we have got with him and we will work with him and develop him.,” he said.