New Liam Palmer twist emerges at Sheffield Wednesday | OneFootball

Liam Palmer is in talks over extending his contract with Sheffield Wednesday

Sheffield Wednesday are building their squad ahead of the 2026/27 League One season, having suffered relegation from the Championship in tough circumstances this term.

The Owls spent the majority of the campaign in administration, while their relegation was officially confirmed when they were beaten by fierce rivals Sheffield United in February.

Henrik Pedersen's side were deducted 18 points, thanks to the wrongdoings of former owner Dejphon Chansiri, while they managed just two league victories.

However, Wednesday ended the season on a positive note as they defeated West Bromwich Albion on 2 May in front of a sell-out crowd who were celebrating David Storch's takeover.

Storch's Arise consortium are now intent on building a squad that can help the Owls compete at the right end of the League One table, following the news that they won't be handed a 15-point deduction.

The South Yorkshire outfit could have been given a 15-point penalty because their takeover bid fell below the amount required to pay creditors 25p in the pound.

However, the EFL opted against that sanction, with Chansiri failing to cooperate with Storch's alternative offer.

Liam Palmer's stance on Sheffield Wednesday future emerges

Wednesday are also tasked with deciding which of their out-of-contract players to hand new deals to alongside their search to acquire fresh talent this summer.

One Owls star whose current terms at Hillsborough Stadium are set to expire this summer is Liam Palmer, who made his debut back in the 2010/11 season.

Fittingly, Wednesday legend Palmer got himself on the scoresheet when Pedersen's men beat West Brom on an emotional afternoon earlier this month.

According to Alan Nixon on Patreon, the 34-year-old is now in talks with the South Yorkshire side about extending his contract.

The defender is happy to stay at Hillsborough Stadium despite his club's relegation to League One, and negotiations regarding the length of his deal are currently taking place.

Palmer has the option to extend his current contract by one year, but Nixon's report adds that he is keen on staying with the Owls for longer than that.

Remaining in S6 would, of course, allow Palmer to return to the Championship with the club he has represented for 16 years.

Barring a 2012/13 loan spell with Tranmere Rovers, the former Scotland international has only ever played for Wednesday during his senior career.

Liam Palmer fresh contract deal makes sense for all parties

Palmer has stuck with Wednesday through thick and thin over the years, which has been epitomised by the fact that he has made 47 appearances across all competitions for them this term, amid their severe financial worries.

In contrast, the likes of Josh Windass and Djeidi Gassama left Hillsborough Stadium last summer, when Chansiri was failing to pay his players' wages, although the aforementioned duo cannot be blamed for that.

Palmer's illustrious Wednesday career has seen him compete in the Championship play-offs, second-tier relegation battles, and promotions from League One.

The veteran could yet add another promotion to his CV by staying with the Owls, while it makes sense for all parties involved for him to sign a fresh contract.

Storch's consortium have plenty of work to do this summer, but life is easier for the Hillsborough outfit with Palmer on their books than it would be without him.