The Owls already have a number of new faces in the door and are busy working on others, with all focus now on giving themselves the best-possible chance of a return to the Championship at the end of this season.
Everyone knows how Wednesday had Eric Cantona on trial, but what about the tales surrounding a handful of other European legends that never quite made it to S6, the £5m bids that went untouched and the request for a world record fee?
In the first instalment of our flick-through guide to the transfers that never quite came off for whatever reason, we journey through Manchester United icons, Celtic legends and Rangers favourites.
How nice would it be to have Wednesday linked with players of this calibre once again?
In the first instalment of our flick-through guide to the transfers that never quite came off for whatever reason, we journey through Manchester United icons, Celtic legends and Rangers favourites.
5. Dani
This was a big one and would have seen Wednesday part with a record fee of around £5m if personal terms could have been agreed with the then-Real Mallorca man. It came ahead of the 1999/2000 season and just before the draw-bridge was pulled up financially at the club. As it happened, Dani sensed his rising stock and held on to join Barcelona for £9m soon afterwards. Photo: CESAR RANGEL
Somewhat past his best by the time he was seen as a serious transfer target for Wednesday, Gazza was approached by Chris Turner to join back in December 2003. Available on a free after a failed trial at Wolves, Turner said at the time: "Our dressing room could do with a personality like Gazza's. He'd love the big pitch here and he would thrive in front of the 20,000 crowd." Photo: Alex Livesey
Manchester City went bold in scaring Wednesday out of their bid to grab the Georgian trickster back in August 1996. David Pleat had tabled a £5m bid but City chairman Bernard Halford told the press the Owls would have to beat the £15m record just paid by Newcastle for Shearer to get their man. Photo: Gary M. Prior
In August 1996 Lombardo to Wednesday from Juventus went as far as having a £3.7m fee agreed - before outlandish wage demands killed a deal. Owls secretary at the time Graham Mackrell said: "After we worked very hard and agreed a fee with Juventus, and went to Italy twice, the player's expectations were such that we had to pull out. We weren't prepared to pay what can only be described as crazy money.'' Photo: Ross Kinnaird