While big-money signings aren't likely to be an option, the Owls could still 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 clubs. For now, here's all the latest news and transfer gossip from the Championship.
5. Owls and Preston after Lyon youngster
Sheffield Wednesday and Preston North End are said to be battling it out to sign Lyon's starlet striker Reo Griffiths, who has been impressive for their second team since joining in 2018. (Mirror) Photo: Catherine Ivill
6. Whites fresh favourites to land wonderkid
Leeds United have been named the 3/1 favourites to land Argentina wonderkid Thiago Almada, ahead of Man Utd (8/1), Man City (9/1) and Arsenal (14/1). The Velez youngster has a £20m release clause. (Oddschecker) Photo: RODRIGO BUENDIA
7. Race heats up for Addicks ace
Derby County are set to join the likes of Norwich City and Fulham in chasing Charlton Athletic striker Macauley Bonne, who looks set to leave this summer following the Addicks' relegation. (The Sun) Photo: David Rogers
8. Former Tigers man speaks out on exit
Ex-Hull City ace Jackson Irvine has revealed there were "really no negotiations" before his exit, and claimed that the club refused to offer him the security of an extension clause if he became injured. (Yorkshire Post) Photo: Lewis Storey