Sheffield Wednesday's divisional rivals could grab £16.5m man on loan, Reading could lose star man next month - Championship gossip

Sheffield Wednesday breathed a sigh of relief last weekend, as they finally ended a nine-game run without a win as they grabbed a 1-0 victory over recently-promoted Coventry City at Hillsborough.
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Championship

Next up, the Owls will look to continue their rise up the table on Boxing Day, when they travel to take on Blackburn Rovers at Ewood Park, in what could be a tricky encounter against a side boasting goal-machine Adam Armstrong. Here's all the latest news and transfer gossip from the Championship:

Leeds United, Leicester City and Crystal Palace are all said to be interested in signing Reading's Michael Olise in, who Danny Mills has claimed could cost up to £40m. Palace are said to be the front-runners to seal the deal. (Mirror)

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Birmingham City boss Aitor Karanka has batted away early talk of the Blues succumbing to relegation, insisting he is merely focusing on the next game. His side are in 17th place, with 22 points from 20 games. (Birmingham Mail)

Huddersfield Town new boy Danny Grant has branded the Terriers a "massive club", and claimed that the Championship is one of the best five leagues in the world. He's recently joined from Irish club Bohemians. (Club website)

Stoke City's Michael O'Neill has revealed that Rangers or Celtic could have signed star man Tyrese Campbell for just £400k in compensation before he penned a new deal last January. He's currently out with a long-term knee injury. (The Athletic)

Watford have confirmed the appointment of ex-Valencia man Xisco Munoz as their new head coach. The 40-year-old left Georgian side Dinamo Tbilisi to become the Hornets' fifth manager in little over a year. (BBC Sport)

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Stoke City are set for a major boost heading into the new year, with key midfielder Joe Allen set to make his return in an U23s game today following nine months out with an Achilles tendon injury. (Club website)

Derby County's hopes of bringing in Manchester United's Phil Jones on loan look to have been improved, following reports that the Red Devils could cover the bulk of his £120k-per-week wages to allow him to move. (Star)