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.
5. Fletcher 'very keen' on Celtic move
Ex-Sheffield Wednesday star Steven Fletcher has been linked with a big move to Scottish champions Celtic, with his former teammate Tam McManus claiming the 33-year-old is "very keen" joining them. (The Star) Photo: George Wood
6. Robins winger could move abroad
Turkish side Fenerbahce are believed to be stepping up their interest in Bristol City winger Niclas Eliasson, who could well leave the Robins in search of top tier football this summer. (Sport Witness) Photo: Catherine Ivill
7. Forest new favourites to land Taylor
Nottingham Forest have powered past Burnley to become the new favourites to sign ex-Charlton Athletic goal-machine Lyle Taylor, who has also been linked with the likes of Preston and Brighton. (Bet Victor) Photo: Jack Thomas
8. Almada eyes Bielsa link-up
Reports from Argentina have claimed that Thiago Almada, who has a £19m release clause at Velez, could join Leeds over the likes of Man Utd and Man City as he's keen to play under Marcelo Bielsa. (Daily Mail) Photo: Marcelo Endelli