Captain Tom Lees has welcomed the prospect of new signings now that Sheffield Wednesday's transfer embargo is over.
The Owls issued a statement tonight confirming that they can recruit again following lengthy consultations with the English Football League.
"Sheffield Wednesday are pleased to inform supporters that the current transfer embargo imposed by the EFL has been lifted with immediate effect," they said on their website.
"The club have worked diligently alongside the EFL in a bid to ensure compliance with Profitability and Sustainability regulations.
"We would like to place on record our thanks to the EFL Executive for the support and guidance given to Sheffield Wednesday surrounding this issue. We would also like to thank our loyal fans for their continued support as we move forward together on and off the pitch."
The Championship outfit had been blocked from bringing in players since April after breaching Profitability and Sustainability rules but today's announcement leaves them free to strengthen their squad.
Lees said: "It will be good, though I am not sure if a bit too late. It is just positive that the club is not getting punished any more. Hopefully, that means they are rectifying things.
"For us (as players), it doesn’t make too much difference. But it is a sign that hopefully things are getting sorted out."
The skipper was speaking after last night's 2-0 Carabao Cup win at Sunderland when speculation was growing that the Owls were close to a resolution over the embargo.
The deadline for permanent moves has passed, but Wednesday have until August 31 to exploit the loan market.
Lees added: "Maybe we can get a couple of loan players. You have seen over recent years that one or two loan players come down into the Championship and then go back to their (Premier League) parent clubs having done so well that they start to play a part.
"Some always catch the eye so hopefully we can get one of them."
The Owls have not added to their squad in seven months and holding midfielder Joey Pelupessy remains Jos Luhukay's only addition since the Dutchman became Owls boss in January.
Meanwhile, Lees has called on Wednesday to start games as they finish them on the eve of their toughest test of the season so far.
The Owls head to Brentford on Sunday to take on a Bees side who are unbeaten in their opening two Championship matches and were victors in the Carabao Cup in midweek.
Wednesday, with their three-man rearguard trying to play the ball out from the back, have struggled defensively in the opening stages of their first three matches but on every occasion have been the dominant side late on.
"The organisation is the big thing, making sure everyone knows their role," said Lees . "A lot is made about what you do with the ball and it will be obvious to anyone watching what we are trying to do. It is important not to forget what to do when we don’t have the ball.
"We have to remind ourselves. I do think we are finding out in first halves of games what suits us and what doesn’t.
"If you look at the games so far, we have done better in the second half. That is because we are figuring out. We just need to do this from the start now, as we can’t afford to be two or three goals down like the first game of the season."
Lees was in the team which beat the Black Cats at the Stadium Light, following a 3-2 league defeat at Wigan on August 4 and a 1-1 Hillsborough draw with Hull City last Saturday.
"It was good to get through to the next round and also get that first win," the skipper said. "That can hopefully boost confidence. We still look like there is quite a bit of work to do. I felt we made hard work of it, at times. But we'll take a clean sheet and two goals.
"With changing the way we have been asked to play, some people are doing things that they are not comfortable doing. It is about nailing down how we want to play - that style and format of play. Getting that nailed down is the thing."
Wednesday have fitness concerns over Fernando Forestieri (groin), Joost van Aken (ankle), Lucas Joao (groin) and Morgan Fox (back).