Sheffield Wednesday should rival Sheffield United for Ike Ugbo alternative after £4.5m reveal: View | OneFootball

Sheffield Wednesday should reignite their interest in Leicester City striker Tom Cannon.

It has been a busy summer for Sheffield Wednesday after they secured survival in the Championship.

The Owls looked destined to make an immediate return to League One after a disastrous start to the season under Xisco Munoz, but they achieved safety after a remarkable turnaround under Danny Rohl as they finished 20th in the table.

Wednesday received a huge boost as Rohl signed a new long-term contract at the club in May, and the German has wasted no time in getting to work on rebuilding his squad.

Rohl has brought in nine new signings so far this summer, with James Beadle, Ben Hamer, Yan Valery, Max Lowe, Svante Ingelsson, Nathaniel Chalobah, Olaf Kobacki, Jamal Lowe and Charlie McNeill arriving at Hillsborough.

Liam Palmer, Dominic Iorfa, Di'Shon Bernard, Barry Bannan and Josh Windass have all signed new deals, but Cameron Dawson and Will Vaulks have departed after turning down the offer of an extension, while Ciaran Brennan, Reece James, George Byers, Tyreeq Bakinson, Juan Delgado and Lee Gregory have been released.

Wednesday supporters will be excited by the club's summer business, but if they are to climb the table next season, they will need to sign at least two strikers before the end of the transfer window.

Ike Ugbo transfer latest as Troyes set eye-watering transfer valuation

Wednesday are keen to bring Troyes striker Ike Ugbo back to the club after his successful loan spell last season, during which he scored seven goals and provided one assist in 19 appearances.

However, according to journalist Alan Nixon, the French second tier side are demanding around £4.5 million for Ugbo, and the Owls are unwilling to meet that valuation.

Wednesday reportedly "hope to agree to a compromise figure" with Troyes, but they face competition for Ugbo's signature from Stoke City, Birmingham City and Queens Park Rangers.

It remains to be seen whether Stoke, Birmingham or QPR could afford Ugbo, but with a number of stumbling blocks, the Owls may need to move on to other targets if a deal for the 25-year-old cannot be reached.

Sheffield Wednesday should join Sheffield United in Tom Cannon race

Wednesday are right to be cautious about paying £4.5 million for Ugbo, particularly given that he scored just once from March onwards last season, and with his return looking increasingly unlikely, one alternative option they should consider is Leicester City striker Tom Cannon.

The Owls were first linked with Cannon in January 2023 during their time in League One, but he instead made a loan move to Preston North End, where he scored eight goals in 21 appearances.

Wednesday reignited their interest in Cannon last summer following promotion, but they again suffered disappointment as he joined Leicester on a permanent basis for a fee of £7.5 million.

Cannon looked to be an exciting signing for the Foxes, but he struggled to force his way into the team last season, and his future at the club is uncertain after he made just one substitute appearance in the final two months of the campaign, frequently being left out of the matchday squad altogether.

New Leicester manager Steve Cooper is currently running the rule over Cannon in pre-season, but it has been claimed that Sheffield United, West Bromwich Albion and Stoke City are all interested in signing him if he is allowed to depart on loan.

Of course, it would be difficult for Wednesday to compete with those three clubs, but they could have a chance of winning the race for Cannon if they offer to pay the biggest proportion of his wages, while it is likely he would receive guarantees of regular game time at Hillsborough, which will be important for him after his frustrating campaign last season.

Rohl's reputation for developing young players may also help to convince Cannon to make the move to South Yorkshire, and the fact the Owls have twice attempted to sign him in the past could count in their favour.

Cannon proved during his loan spell at Preston that he can be a prolific striker at Championship level, which would make him the perfect solution to Wednesday's striker problems, and supporters would no doubt be delighted if they can beat their Steel City rivals to his signature.