While big-money signings aren't likely to be an option, the Owls could well get their hands on some quality players, and will also look to use the loan market to bring in exciting young footballers from top tier sides. For now, here's all the latest news and transfer gossip from the Championship.
1. Brentford boss wants VAR
Brentford boss Thomas Frank has urged the EFL to consider using VAR in the Championship play-offs, after his defender Rico Henry was controversially sent off in his side's 1-0 first-leg loss to Swansea. (BBC Sport) Photo: David Rogers
2. Baggies eye Wigan star
West Brom have emerged as candidates to sign Wigan Athletic star Antonee Robinson, as they look to build a side capable of staying up in the Premier League next season. (The 72) Photo: Nathan Stirk
3. Porto keen on Loader
QPR sensation Danny Loader is said to be in 'advanced talks' with Portuguese giants Porto, and could be set to snub the likes of Crystal Palace and Swansea City to pursue a new challenge abroad. (Daily Mail) Photo: Harry Trump
4. Leeds eye Man Utd man
Leeds United have been linked with a shock move for Manchester United defender Axel Tuanzebe, who could provide a lower-cost alternative to current loan star Ben White. (The Sun) Photo: Alex Livesey