Barry Bannan stays: Huge Sheffield Wednesday boost in summer of crisis

The Scotland international's Hillsborough contract ran out at the end of June.

He continued to train with the club during pre-season but the financial crisis surrounding the Owls made keeping him less straight-forward than it should have been.

The Championship club are under a transfer embargo which would ordinarily mean they would be unable to sign any new players, but their numbers are so restricted they have plenty of headroom to take their squad up to a maximum of 23 "permitted players" .

But having failed to pay their wage bill in full and on time for three of the last four months, they are also restricted in what wages they are able to pay.

So Bannan has more than likely taken a significant pay cut to recommit to a club he has come to love over his 10-year stay.

He is the first senior player to sign up in a summer which has seen players sold to pay the bills, and others leave after not being paid on time.

“Being out of contract was the first time that has happened to me in my career so it’s been hard," Bannan told Wednesday's website.

“Today puts that to bed. Deep down inside I always knew what I wanted to do but at times it seemed like what I didn’t want to do could happen, but now I’m delighted to get it done and I can look forward again.

“There’s loads of reasons (for re-signing) really… I’ve made it clear over the years my love for the club and the love I receive back.

“This club is a big part of me and my family, who are with me here today as I’m signing. They will always stand by me with whatever decision I make and I’ve decided to stay.

“With the season getting closer, this last week has been tough because there was interest from elsewhere and I had a lot to think about.

“We had a lot of conversations as a family and when I told my daughter Elsie that I might be leaving she started crying. Then last night when I told her I was staying she started crying again. I asked her why and she said they are just happy tears.”

Club captain Bannan has made 447 appearances for the side he joined from Crystal Palace in August 2015, but it his quality as well his longevity and loyalty which have made him such a popular terrace figure.

The Owls' first game of the new Championship season is due to be at Leicester City on August 10, although doubts have been raised over whether it will take place, given all the problems at the South Yorkshire club.