Carlos Carvalhal prepares for talks on his Sheffield Wednesday future

Speculation has been mounting over whether Carvalhal will stay at Hillsborough despite the club making significant progress under his reign.

But Wednesday night’s defeat at Hillsborough was the second successive taste of play-off heartache for the Owls following last year’s 1-0 loss to Hull City in the final.

When asked what the result meant for his future at the club, Carvalhal said: “It is not the time to talk about my future - there are too many rumours around and things that don’t make any sense.

“It is clear that it (the season) is finished now and I will talk with the chairman. I have a fantastic relationship with the chairman and we will talk.”

Carvalhal expressed pride in the performance of both his players and club.

“We are very frustrated but we are very proud to once again have put Sheffield Wednesday in the first positions,” he added.

“One season is not easy to put the team in the play-offs and to do it twice is much more difficult because of expectations, and I think we did well this season again.

“Sheffield Wednesday have turned completely the way there were in the (previous) years and it is now a club everybody respects.”

Carvalhal thought his side looked set for a return to Wembley after Fletcher’s header put them in front during their most dominant spell of the game.

He said: “The game was completely under control but we made one mistake and they came inside and scored a goal.

“It is very hard when you fight in the Championship over a lot of games and you come to this moment and you lose on penalties.”