Sheffield Wednesday are struggling during the January transfer window, but an offer for one of their players has failed.

With relegation almost certain, Sheffield Wednesday’s major goal is to finish the 2025-26 season without incurring a further 15-point deduction for the start of their likely League One campaign the following season.

There has already been significant discussion about the necessity to obtain operating finance to keep the club afloat, putting an already thin roster at risk of losing all of its most skilled players.

However, one attempt to get one of their more popular players appears to have failed, with sources claiming that a Championship competitor has failed to sign another player from the financially troubled Hillsborough club.

Portsmouth’s attempt for Svante Ingelsson is alleged to have failed.

On the evening of January 23, the Sheffield Star’s Alex Miller claimed that Portsmouth’s attempt to sign Sheffield Wednesday player Svante Ingelsson had failed.

According to reports, while Pompey made an offer for the Swedish midfielder, Sheffield Wednesday’s administrators chose to reject it. The player’s contract expires this summer, but Sheffield Wednesday has the option to extend it by another year, putting him under contract with the club until the summer of 2027, assuming the option is exercised.

Portsmouth is in severe need of reinforcements. They are in a dangerous position near the Championship relegation zone, separated from the bottom three only by goal difference before the weekend matchups begin.

And, having struggled in the midfield all season, Ingelsson may have been a perfect player for a club with one of the lowest budgets in the division, but they may now have to search elsewhere for additional support.

Sheffield Wednesday administration need to raise funds, but not all offers will be accepted.

Sheffield Wednesday require operating finance to get them through to the end of the season. And, because the EFL has yet to ratify the club’s sale to a group led by former professional gambler James Bord, the club’s administrators must continue to raise funds to keep the club operational until everything is in place.

The January transfer window was always expected to be challenging for the club. Loanees Ethan Horvath and Harry Amass departed the club earlier this month, and it appears that brilliant 17-year-old Yisa Alao may leave the club soon, with Chelsea and Manchester United vying for his signing – the Blues are believed to be in pole position.

The biggest blow appears to be news of captain Barry Bannan’s impending departure, with Millwall being the most likely destination, however reports on Saturday morning have thrown some doubt on that happening.

The departure of Ingelsson would be another devastating blow to the club. He joined Hansa Rostock in 2024 and has made 65 appearances in all competitions since then.

However, while Sheffield Wednesday’s bones have been picked clean during this transfer window, the administrators are not obligated to accept any offer for any player.

It is true that they have a legal obligation to look after the best interests of the club’s creditors; however, they also have an obligation to keep the club going, which they cannot do if Sheffield Wednesday has no players left to play for them by the end of January because they have all been sold to rival clubs.

The sum of Portsmouth’s offering for Ingelsson is unknown, however stories of him staying imply that the administrators believed that rejecting this offer was in the club’s best interests.

It’s not good news for Portsmouth, but it’s a ray of hope for Sheffield Wednesday fans after a month of nothing but bad news.