Stuart Gray is refusing to give up on a Hillsborough return for Matty Fryatt though Hull are offering him a new deal.
There is no certainty that the striker will stay with the Tigers - and even if he does sign a contract there may be a chance of him ending up back with the Owls on loan, Gray feels.
“You need to have a few irons in the fire, which we have, and I’m not counting anybody out,” Gray told The Star.
“You can never give up hope. If Matty does re-sign with Hull, there could be an opportunity for him to come here on loan.
“Ideally, though, you want your own players in the building.”
Gray has also not ruled out a Hillsborough return for Leon Best, who has been transfer-listed by Blackburn.
The Owls boss said: “After he came here we got him fit and we saw the best of him; you never say never.” But even if Gray wanted to pursue Best he could be hard to land.
While Fryatt is falling out of contract at Hull and therefore available on a Bosman free if he chooses to leave, Best has two years left on his Blackburn deal and cost the club £3m, so would command a fee.
Best is also understood to be on wages that reflects his and Rovers’ Premier League pedigree.
Wednesday are likely to have have paid only a portion of those wages while he was on loan with them, but Rovers may not be so amenable in future as they are looking to offload him fully.
Personal terms will also be a factor in the Fryatt equation. Hull have said that talks with him are “ongoing.”