It is understood that the Canaries and the Seagulls are both keeping tabs on the 17-year-old’s current situation at Hillsborough.
Shipston has yet to make his debut for the Owls and was utilised at Under-18 level by the club during the previous campaign.
The midfielder is set to begin the second year of his scholarship next month and will be keen to capture Darren Moore’s attention by producing some impressive performances for Wednesday’s youth sides.
Shipston did train with the Owls’ first team on several occasions last season as the club missed out on promotion to the Championship.
After qualifying for the play-offs on the final day of the regular campaign, Wednesday suffered defeat at the semi-final stage of this competition to Sunderland who went on to clinch a place in the second-tier.
Set for another year in League One, the Owls will be desperate to emerge as legitimate contenders for automatic promotion later this year.
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With Norwich and Brighton both keeping an eye on Shipston, it will be interesting to see whether the Owls decide to take action in order to fend off interest from these two clubs.
It is currently unclear as to whether Wednesday have considered offering the midfielder his first professional deal.
If they believe that the teenager could make the step up in level in the not-too-distant future, the Owls should consider tabling a contract.
By continuing to make strides in terms of his development, Shipston may be able to force his way into contention for a place in Wednesday’s match-day squads for their cup games next season.
Alternatively, the Owls could find it beneficial to give Shipston his first taste of senior football by loaning him out to a team in a lower division.