Sheffield Wednesday are currently in the process of preparing for their return to Sky Bet League One after suffering relegation from the Championship in the season just gone. 

Darren Moore faces a rebuilding job this summer as he looks to put a side together that would be capable of challenging for promotion and a subsequent return to the second tier at the first time of asking.

The likes of Jordan Rhodes, Adam Reach and Keiren Westwood have all left Hillsborough for pastures new, whilst there is also a lot of uncertainty over the future of Osaze Urhoghide, as the youngster continues to stall over a new deal.

Meanwhile the club are also busy looking for fresh blood to bring in over the next few months, with several names having already been linked with a move to the Steel City in recent weeks.

Here, we round up all of the latest transfer gossip that has been swirling around the Sheffield outfit recently.

Owls dealt striker blow

The Owls were dealt a transfer blow earlier today, with news emerging that Portsmouth have agreed a fee with Preston North End to sign striker Jayden Stockley this summer.

As per HampshireLive, the 27-year-old had also been of interest to Wednesday, Sunderland and Charlton Athletic prior to this recent development.

Stockley previously spent time on loan with Pompey whilst playing for his former club Bournemouth and appears keen to move closer to his hometown of Poole.

The striker has only scored on eight occasions for Preston since joining the club from Exeter City back in 2019.

Defender set for exit

As reported by The Sun, young defender Isaac Rice is set to leave the club in the near future as he closes in on a move to Scottish Championship side Dunfermline Athletic.

It comes after the 20-year-old was named as one of several players who will not be given a new deal by the Owls, after they released their retained list.

Rice hardly ever featured at first team level for Wednesday and wasn't even given a chance to showcase his skills out on loan.

He will now depart the Steel City club after coming through the youth ranks at Hillsborough.

Julian Borner latest

As per German publication Sportbuzzer, Julian Borner's expected move to Hannover 96 is set to be completed by next Monday, with the Bundesliga.2 side wanting to have him on board for pre-season.

The centre back appears set to leave Hillsborough on a free transfer after Wednesday reportedly agreed to let him leave in order to sign a three year contract in his homeland.

It is said that the German outfit are now just waiting for the English club to give their approval before the transfer can be completed.

Borner still has a year left on his contract with the Owls, but the need to sort out their financial issues appears to have been the driving force behind this deal as they look to slash their wage budget.