Cannon in, Smith out: The dream start to Sheffield Wednesday's summer transfer window | OneFootball

It was an excellent end to the season for Sheffield Wednesday as they secured survival in the Championship.

The Owls were promoted from League One last season after beating Barnsley in the play-off final at Wembley in May, and they had looked set to make an immediate return to the third tier.

Wednesday made their worst start to a season in their history, resulting in the sacking of Xisco Munoz in October, but performances and results improved significantly under Danny Rohl.

The Owls were one of the form sides in the division in the second half of the season, and they secured safety with a 2-0 win at Sunderland on the final day, finishing 20th in the table.

Given the outstanding job Rohl has done at Hillsborough, keeping hold of the German is likely to be one of Wednesday's biggest challenges this summer, but there is also plenty of work to do on the squad, with 19 players out of contract.

Ahead of what looks set to be a busy few months for the club, we looked at the potential dream start to the summer transfer window for the Owls.

In: Tom Cannon

Wednesday were first keen on striker Tom Cannon last January, according to journalist Alan Nixon, but he instead joined Preston North End on loan from Everton.

Cannon scored eight goals and provided one assist in 21 games during his temporary spell at Deepdale, and Wednesday reignited their interest in the summer, but they again missed out on his signature as he made a permanent move to Leicester City for a fee of £7.5 million.

Injury prevented Cannon from making his debut for the Foxes until December, but after he scored three goals in two games against Huddersfield Town and Millwall in early January, it looked as though he was finding his feet at the club.

However, Cannon struggled to force his way into the team, and he made just one substitute appearance in the final two months of the season, frequently being left out of the matchday squad altogether.

Cannon's lack of game time raises serious question marks over his long-term future at the King Power Stadium, and if he did not feature regularly in the Championship, it seems unlikely he will receive many minutes in the Premier League next season.

If Cannon does become available, he will have no shortage of suitors in the second tier, and Preston and Blackburn Rovers are both said to be keen to sign him on loan this summer.

Wednesday would likely only be able to afford a loan deal for Cannon, but he is the type of statement signing the Owls need to make this summer to convince Rohl to stay at the club, and he could be the prolific goalscorer that they desperately need.

Out: Michael Smith

Striker Michael Smith is one player who looks likely to depart Hillsborough this summer.

Smith joined Wednesday from Rotherham United in June 2022, and he scored 20 goals and registered eight assists in 49 games in all competitions to help the Owls to promotion last season.

However, Smith's minutes became limited in the Championship, and according to BBC Derby Sport, Derby County made a loan offer for him in January, including a "significant wage contribution", but Wednesday were said to be "demanding an excessive fee in return".

Smith remained at Hillsborough in January, and he was used by Rohl in the second half of the season, mainly featuring as a substitute or starting games in which the Owls took a more direct approach.

The 32-year-old is undoubtedly a useful option for Wednesday, but reinforcements in the forward areas are likely to be a priority for Rohl this summer, and given that Smith scored just four goals in 34 games this season, it would be no surprise to see him move on.

Having won promotion from League One, Derby may now have the funds to be able to afford a deal for Smith, but if the Rams decide against a move, he should attract plenty of third tier interest.