Financial turmoil and relegation to League One twice have blighted the club as a succession of managers have tried and failed to bring back top flight football to Hillsborough.
But which Owls boss can claim to be the club’s most ‘successful’ this century? We take a look at the records of the 15 men – including Garry Monk, sacked on Monday evening – who have been in the Wednesday hotseat since Peter Shreeves failed to save the club from relegation in the 1999/2000 season.
9. Gary Megson, February 2011 to February 2012
Megson was sacked as manager with the Owls third in League One. At the time he had the third best win percentage of any manager in Wednesday's history. His last result before being fired was a 1-0 victory over Sheffield United. In total, Megson won 28 of his 62 games in charge at S6, losing 22 and drawing 12 matches. His win percentage was 45.16, the highest of any manager at the club this century. Photo: Matthew Lewis
10. Dave Jones, March 2012 to December 2013
Jones led Wednesday to promotion from Football League One to the Championship just two months after taking charge. He was dismissed with the club second from bottom in the Championship, having won only one league match all season in December 2013. Jones' record at S6 saw him win 29 out of 81 games, losing 30 and drawing 22. His win percentage was 35.80 Photo: Matthew Lewis
11. Stuart Gray, December 2013 to June 2015
Gray was initially appointed as caretaker manager before being confirmed as head coach in January 2014. In his one full season in charge, he guided the Owls to 13th in the Championship. Following the takeover by Thai businessman Dejphon Chansiri, Gray was sacked in the summer of 2015 and replaced by Carlos Carvalhal. He had a win percentage of 38.24 per cent, winning 26 of 68 games. He lost 19 and drew 23 matches during his time at Hillsborough. Photo: Michael Regan
12. Carlos Carvalhal, June 2015 to December 2017
Carvalhal led the Owls to two successive Championship play-off finals during his time at Hillsborough, but lost them both to Hull City and Huddersfield Town respectively. He left the club by mutual consent on Christmas Eve 2017 with Wednesday in the bottom half of the table. He managed the club for 131 games, winning 56; losing 38 and drawing 37. The Portuguese left S6 with a 42.75 per cent win record, second behind Megson in the 21st century. Photo: Harry Trump