The Owls are searching for a new manager.

It became somehow inevitable that Sheffield Wednesday would be searching for a new manager sooner or later - and that the sacking of Henrik Pedersen came sooner gives the new man plenty of time to work his way into whatever the season will bring.

Beyond the decision to give Pedersen a shot at League One initially, the appointment of a new boss is the first major and formative football decision the club's new regime will make, guided by sporting director Simon Wilson and ultimately informed and signed-off by those above.

The walk towards Pedersen's demise was signposted for some weeks and so of course the club will not be working from a standing start when it comes to a next appointment. The name out of the gate will be that of the uncontracted Dave Challinor, the former Stockport County manager whose partnership with Wilson provided a historic rise to the entrance to the Championship. It's been whispered around the industry for some time that the 51-year-old is ready and available for the job and while he no doubt open as the favourite, the sense is that this is no open-and-shut appointment.

Well-informed reports in Greater Manchester suggest the old colleagues remain on good terms and that compensation would not be owed to the Edgeley Park club in the case of his appointment. The viability of a compensation hire is not known amid EFL business plan restrictions. But if not Challinor, who else?

A speculative glance down the list of unattached names likely to be linked in the coming days is an interesting one. Paul Heckingbottom, a former Sheffield United figure whose association with the Blades is not seen as a stumbling block due to his promotion-winning efforts with Wednesday as a player. He ruled himself out of the running for Bradford City in the last weeks but may well prove a solid fit for the Owls' new project.

Gary Rowett is a free agent having left Leicester City and has been suggested for the Owls job previously. In September he spoke to suggest he was keen to step away from the merry-go-round of Championship football in favour of a longer-term project - one he'd certainly find at S6. Ryan Mason would serve as an interesting and youthful option, though inexperienced. Former Barnsley boss Gerhard Struber would be provide the sort of clear playing style Wednesday appear to be after as would Liam Manning, though his personal circumstances are not clear. Luke Williams was a name considered by Wednesday in its previous life but his star has fallen a touch, as has that of Matt Bloomfield.

You can never rule out a wild card of course, though gut feel suggests EFL experience will be key. American owners have been swayed by big-name appointments in seasons gone by but that feels unlikely. Could it be someone in a job? As said, the terms of their EFL business plan is unclear and with a number of viable options on the market, the burden of compensation may not be required. You'd fancy serial promotion-winner and MK Dons boss Paul Warne to be interested if that is a route to be ventured or what of Yorkshire-born Plymouth Argyle chief Tom Cleverley? Hell, what about a shock return for England’s Darren Moore?

They'll look at the squad's profile and work accordingly, they'll look at CVs and interview qualities and search for alignment in their vision for what comes next. For now we're in the realms of speculation. The enquiries have gone out and the calls ventured. It's understood a long caretaker period is unlikely and we may well have a clearer idea as the answers come back in the coming days. Stay tuned, this is Wednesday. It won't be boring.