Sheffield Wednesday are rebuilding their first-team roster following Arise Capital’s acquisition of the club in May.

The Owls had a rough year in the Championship before being relegated to League One.

But the change in ownership has restored some confidence at Hillsborough, with the Yorkshire club now enjoying financial stability.

Sheffield Wednesday went into administration for several months due to major financial troubles under the former owner, Dejphon Chansiri.

An exodus of first-team players, including stars like Barry Bannan and Josh Windass, left Henrik Pedersen’s side unable to compete in the second division.

However, the club is already working to bolster the roster for next season, with the goal of returning to competitive levels.

Sheffield Wednesday set to secure a bargain. Barry Bannan contract

According to Sheffield Star journalist George Smith, Sheffield Wednesday have finally sealed a contract to re-sign Bannan.

The midfielder left in January as their financial problems worsened, signing for Millwall amid concerns over the route the club might take if James Bord obtained his takeover, but he is now on his way back to Hillsborough after David Storch took ownership of the club.

And it is understood that a no-fee deal has been negotiated to guarantee his return, which will be a significant boost for the Owls and their supporters.

The 36-year-old was named club captain last summer, and his departure was a huge blow to fans during a difficult period for the team.

However, the Scot is getting closer to a return, with the first team squad currently back in pre-season training ahead of the League One season.

Bannan made almost 400 appearances for Sheffield Wednesday during his first spell with the club, signing from Crystal Palace in the 2015 summer transfer window.

How Sheffield Wednesday fans react to Barry Bannan’s comeback.

Sheffield Wednesday fans are enthusiastic about the potential of bringing Bannan back to the club for next season, thinking he could be a valuable asset in League One.

Fans are also impressed by how active the Owls have been in the early parts of the summer transfer market, with several additions already announced.

Bannan appeared in 42 regular Championship games last season, 28 of which were for Pedersen’s side, before helping Millwall reach third in the standings in the second half of the season.

Barry Bannan’s return is a huge coup for Sheffield Wednesday and Henrik Pedersen.

Bannan shown last season that he can still contribute at a high level in the Championship, helping Millwall compete for promotion despite not playing as often as he would have liked.

So having him back in the League One squad will significantly increase the level of quality available to Pedersen in the coming season.

Bannan’s return will also provide a significant boost in morale for both the first team players and the supporters.

And being able to bring him in so early in the summer, on a free transfer, is a huge coup for Sheffield Wednesday and head coach Henrik Pedersen, who have done an excellent job in the market thus far.