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.
9. Alan Shearer
Another Francis near-miss, Wednesday could have landed one of the best of all-time had the board been a little lighter with their purse-strings. In his autobiography, Francis claims that in 1992 he tried to persuade the Owls board to part with £3m for the then-Southampton striker. The board refused, rendering him too much of a gamble at such a young age. Whatever became of him? Photo: Clive Mason
Yet another lost Wednesday deal to involve a Manchester United icon, Big Ron's attempt to add Norman Whiteside to his squad in the 1990/91 season came and went as the Northern Irishman struggled with injury and retired soon afterwards. He had been available on a free transfer from Everton but decided against joining his old manager and prolonging the inevitable. Photo: Getty Images
One of Europe's hottest properties back in the early months of 1999, Michael Mols travelled to South Yorkshire ready to sign for the club after a £2.5m deal had been agreed between Danny Wilson's Wednesday and his club Utrecht. With Ajax and Rangers sniffing, Mols asked the Owls for £20k per week. The deal collapsed and by the time Wednesday looked to resurrect it he'd signed for Rangers that summer. Photo: Jamie McDonald
Another mid-90s flirtation that ended up going nowhere, England international Platt was twice on Wednesday's radar. In 1993 he came closest to signing, mulling over a deal to sign from Juventus, but ended up at Sampdoria. Interest reared again in 1995 before he signed for Arsenal. Photo: Shaun Botterill