Jamie Vardy to Sheffield Wednesday or Leicester City may hinge on one crucial twist | OneFootball

Jamie Vardy may still be under contract at Cremonese if they stay in Serie A, which would be a big roadblock in his route back to England

Remarkable rumours surfaced on Tuesday morning linking Jamie Vardy with a move back to England to play in League One for the first time in his career.

Joe Crann reported that the new higher-ups at Sheffield Wednesday had held discussions about the possibility of bringing their former academy product back to Hillsborough, 24 years on from releasing him as a teenager.

But, while Vardy is a boyhood Owls fan, there's a likelihood that, if the third tier turns out to be his next destination for the 2026/27 campaign, his ties with Leicester City would push him towards making a return there.

The 39-year-old's 13-year tenure with the Foxes came to an end last summer, departing after making his 500th appearance and scoring his 200th goal for the club against Ipswich Town last May.

But, there's still a question to be asked about whether Vardy will be free to move back to England this summer, as there's still potential that he'll be contracted to Cremonese, depending on the outcome of the Serie A closer this Sunday.

Jamie Vardy will be a free agent this summer, but only if Cremonese get relegated

Vardy left Leicester last summer and signed for newly promoted Serie A side Cremonese on a one-year deal. Crucially, the contract includes a further year on offer if I Grigiorossi remain in the Italian top flight.

The Serie A campaign comes to an end on Sunday, and Vardy's side is still in with a shout of survival, owing to consecutive wins in the last two weeks against Pisa and Udinese, in which the 39-year-old got on the scoresheet in both.

Cremonese are one point removed from Lecce, who occupy the final safety spot.

Lecce have the easier match-up on paper, as they host 14th-placed Genoa, while Marco Giampaolo's side takes on Cesc Fàbregas' Como, who could still finish in a Champions League spot if they win and either AC Milan or Roma loses.

Crucially, all Cremonese have to do is better Lecce's result on Sunday to keep their survival bid alive. If they draw and Lecce lose, they finish on the same number of points and will face off in a relegation play-off, per the rules of the Italian top flight.

If Vardy's side comes out on top and relegates Lecce, then that year's offer could be exercised. If that offer is open for the club to extend, there'd be little stopping them, as the frontman has played an integral part for them, scoring seven of their 31 league goals this season.

Sheffield Wednesday and Leicester City will hope for a Cremonese defeat to open the door for Jamie Vardy's return

If Cremonese lose on Sunday, their immediate return to Serie B will be confirmed, and there'll be no confusion surrounding whether Vardy will stay around, as he'll be a free agent and open to signing elsewhere.

And if the 39-year-old is looking for a return to England, you'd feel that Sheffield Wednesday and Leicester will have their hats in the ring for pure sentiment, as the veteran striker enters the final few years of his career.

If Vardy remains contracted at Cremonese, however, then the League One duo may still have hopes of bringing him back, but they'd have to lay down a good transfer fee to sign him alongside offering wages which will likely be the highest for any third-tier player next season.

If they can just focus on the wage side, rather than also coughing up a transfer fee, a move may make better sense financially, especially given that, despite his age, he'll still easily be one of the better strikers in the division and would aid in their respective promotion pushes.

So, while no one will be directly rooting for Vardy's relegation this Sunday, there may be some quiet celebration at the King Power or at Hillsborough if Cremonese are unable to win for a third straight weekend to complete their great escape out of the Serie A relegation zone.