Beaten play-off finalists Owls are said to want to take midfield man Adam Forshaw and winger Adam Reach on season-long loans.
The latter, however, is expected to remain in Aitor Karanka’s plans but Wednesday may be successful in their move for Forshaw.
The Owls are one of several Championship clubs eyeing Jamie Vardy’s former Halifax strike partner Lee Gregory, 26, but Millwall’s £2m price tag may put them off.
Huddersfield Town have signed another German as David Wagner’s rebuilding plans take shape.
Former Germany Under-21 striker Elias Kachunga, 24, has joined on a season-long loan from top-flight side Ingolstadt, where he became their cklub record signing from SC Paderborn last summer, with a view to a permanent move.
Two young Town players, striker Flo Bojaj and defender William Boyle, have joined Kilmarnock and former Huddersfield chief Lee Clark on loan until January.
Leeds United face competition from Bundesliga side Hamburg for NEC Breda’s Belgian winger Anthony Limbombe.
Spanish side Granada CF also attempted to sign Limbombe in the January transfer window and may make another move.
The winger scored seven times and set up seven goals in 32 appearances for Breda in the Netherlands last season.
Barnsley have told by two clubs to up their offers for transfer targets.
The promoted Oakwell club have already one bid for Plymouth’s 23-year-old captain Curtis Nelson, who becomes a free agent at the end of the month, rejected and Charlton are said to have turned down an opening bid from the Reds for winger Callum Harriott.
Rotherham United chief Alan Stubbs wants Aberdeen winger Jonny Hayes, 28, but face a fight with Wigan for the Republic of Ireland international, who the Dons hope to retain with an improved deal.
Stuart McCall has returned to Bradford City as manager for a second time and he could also be bringing back a former Bantams player.
Midfielder Nicky Law, released by Glasgow Rangers, made 43 appearances in two seasons on loan from original club Sheffield United and the 28-year-old could be interested in a return, though other League One clubs are also hovering.
Law, who also had a loan spell at Yeovil, moved on to Rotherham from the Blades, making 89 appearances and scoring six goals.
After a move to one of McCall’s former clubs, Motherwell, he joined Rangers in 2013 and scored 18 goals in 86 matches.