Sheffield Wednesday's transfer embargo has been lifted

The Championship outfit have been operating under an embargo for several months after handing over their accounts for the 2017/18 season late.

But, following lengthy talks with the EFL, the Owls are understood to have satisfied the governing body's requirements and been given the all-clear to trade freely once again.

We understand one or two finer details are still to be ironed out but Wednesday have been given permission by the EFL to sign players.

The restriction has significantly hampered Wednesday's ability to bring in reinforcements this summer. Julian Börner, Moses Odubajo and Kadeem Harris have moved to Hillsborough but the trio were all free agents.

The embargo and Steve Bruce's controversial move to Newcastle United has overshadowed the Owls' preparations ahead of the 2019/20 season, which begins next week. Wednesday, who were also placed under an embargo last year after breaching Profitability and Sustainability regulations, have reported the Magpies to the Premier League over their "conduct" in hiring Bruce as their manager.

The Owls have yet to name a replacement for Bruce, with Lee Bullen standing in during pre-season. They round off their pre-season programme with a Hillsborough tussle against La Liga side Espanyol on Sunday, kick-off 3pm.

Bullen, who is without goalkeeper Joe Wildsmith (knee), said: "We have assessed the players in every training session and game to try and work out what we feel will give us the best opportunity to beat Reading next week.

"The team that starts the game against Espanyol is not necessarily going to be the team that will play against Reading. It is up to the players to go on the pitch, whether they are on for five minutes or 75 minutes, to do the best for themselves and the club and make it as difficult for me and the rest of the coaching staff to pick a team for Reading."