Jamie Vardy to Sheffield Wednesday will surely force £2.5m star out of Hillsborough | OneFootball

Sheffield Wednesday are interested in signing Jamie Vardy, but that spells bad news for one Owls striker

Sheffield Wednesday are set to make major changes to their squad following their relegation from the Championship to League One and David Storch's takeover.

The Owls spent the majority of the season in administration, while the takeover completed by Storch's Arise Capital Partners consortium safeguarded their long-term future.

Former owner Dejphon Chansiri's reckless actions, which led to administration, handed the South Yorkshire club an 18-point deduction, and fast-tracked their relegation, as well as leading to an existential threat.

However, Storch's arrival as owner on 1 May means that the Hillsborough outfit can be active in the summer transfer window and can build a squad that could be competitive in League One.

Jamie Vardy's Sheffield Wednesday arrival would surely prompt the exit of one Owls forward

Wednesday lost several key players last summer, when Chansiri was consistently failing to pay wages on time, while Owls legend Barry Bannan joined Millwall in the winter transfer window.

Those events left boss Henrik Pedersen with a squad that was thin on the ground, contributing to the fact that they earned just two Championship wins.

Wednesday can now bolster their ranks this summer, though, and the fact that they won't be subject to a 15-point deduction or see their weekly wages capped at £7,000 per player, as had been initially feared when they exited administration, strengthens their promotion chances.

The Owls will still be subject to some EFL budget restrictions, but Storch has his eyes firmly set on helping Pedersen build a squad that can compete at the right end of the League One table.

According to the Wednesday Word, Owls figures have discussed bringing Jamie Vardy to Hillsborough Stadium ahead of next season.

Vardy was released from the South Yorkshire outfit's academy as a teenager, but has gone on to enjoy a stellar career, winning the Premier League title and an FA Cup with Leicester City.

The boyhood Owls fan is currently plying his trade for Serie A club Cremonese, and he bolstered their top-flight survival chances by scoring in recent wins over Pisa and Udinese.

Vardy scored nine goals for Leicester in the Premier League just last season, and would likely be a big goal threat in League One next campaign, even though he turns 40 next January.

Meanwhile, if Wednesday land their move for the former England striker, it would surely push current Owls forward Ike Ugbo out the Hillsborough exit door.

Ugbo was a key asset for the S6 side when they achieved Championship survival under ex-boss Danny Rohl, scoring seven goals in 18 second-tier fixtures while on loan from Troyes in the second half of the 2023/24 season.

However, since joining the Hillsborough club permanently, the 27-year-old has failed to score for two consecutive league seasons, proving that Vardy is an obvious upgrade.

Wednesday would be unable to recoup Ike Ugbo transfer fee - But Jamie Vardy arrival would soften the blow

Ugbo has failed to produce the goods for Wednesday for far too long now, and acquiring a better striker will bolster their chances of winning promotion from League One at the first time of asking.

According to the Sheffield Star, Wednesday paid around £2.5 million to Toulouse to land the Canada international's services in the summer of 2024, which is a fee they likely have no chance of recouping, even though his contract isn't set to expire until 2028.

Making losses in the transfer market won't be high on Storch's agenda following his recent takeover, but acquiring former Premier League title winner Vardy would soften the blow.

Wednesday's interest in the former Leicester hotshot shows that they are paving the way to parting company with Ugbo, who has been disappointing, but they may need to take a big hit when it comes to moving the flop forward on.