Sheffield Wednesday has had a very busy summer as they prepare to return to League One under new ownership, and the incomings at Hillsborough do not appear to be slowing down any time soon.

Sheffield Wednesday have been one of the busiest clubs in the EFL this summer, having already signed five players.

Ricardo Santos arrived from Bolton Wanderers, Jordi Liongola from Belgian club RAAL La Louviere, Callum Slattery from Motherwell, Sil Swinkels from Aston Villa, and, most recently, Harry Grey on loan from Leeds United.

On top of that, Barry Bannan appears to be getting closer to returning to the club from Millwall, while Joe Lumley, who was on an emergency loan last season, has been linked with a return to the Owls.

Certainly, Wednesday will look very different when they return to the third tier, and with business likely only just getting started, there is a lot to be thrilled about for Owls fans.

With Grey bringing another option up top, Wednesday owner David Storch will be focused on what is going on at Portsmouth right now, with another prospective deal now looking to be on the table following recent transfer activity at Fratton Park.

Sheffield Wednesday receives a significant boost in their chase of Colby Bishop as Portsmouth sign Marko Milovanovic.

Hillsborough’s summer business is just getting started on Wednesday, with five people coming through the door.

Since Storch took over in May after the club went into administration, thus ending Dejphon Chansiri’s reign in command, optimism in South Yorkshire has skyrocketed as the team enters a new era.

Henrik Pedersen will spearhead their comeback to the League. One season after supervising their Championship campaign in challenging circumstances, as the Dane seeks an immediate return to the Championship next year.

With Grey adding another option up front, Wednesday don’t appear to be finished, with Portsmouth striker Colby Bishop linked with a move to Hillsborough in recent weeks.

Bishop, 29, has scored in double figures in three of his last four seasons for Pompey, but he struggled last season, scoring only three league goals in 42 appearances.

However, with 72 goals and 16 assists in exactly 200 League One games, the former Accrington Stanley forward understands how to score in the third tier, and as he enters what should be the peak of his career, he would be an excellent choice for Wednesday.

Storch will now be keeping a close eye on Portsmouth’s recent transfer action, as the club is ready to complete a €6 million (£5.1 million) deal with Spanish club Almeria for Serbian striker Marko Milovanovic.

Milovanovic, 22, spent last season on loan with Alverca in Portugal’s top flight, where he scored nine goals and assisted two in 31 league games, the most of which were as a substitute.

The towering forward will almost probably be Pompey’s primary centre-forward heading into the next season, leaving Bishop out in the cold and potentially pushing him out the door.

Wednesday have already expressed an interest in the 29-year-old, and if Bishop seeks more playing time next season, an exit seems likely, with South Yorkshire appearing to be a probable destination.

Storch will be watching closely to see how things play out at Fratton Park, as a move for Bishop appears to be an option for the Owls.

Henrik Pedersen must speed Colby Bishop’s swoop following Portsmouth transfer business, as Sheffield Wednesday complete their summer revamp.

With Wednesday making some real professions of purpose for next season, Pedersen will be hoping to see recruits continue to come through Hillsborough’s doors.

Ike Ugbo is unlikely to feature much next season and is slated to leave in the summer, while Jerry Yates has returned to his parent club following the end of his loan, leaving Jamal Lowe, William Grainger, and the incoming Grey as Pedersen’s best alternatives.

Lowe has already proven to be a competent goalscorer at that level, but Bishop is a different beast, and his signing would provide a higher certainty of goals than any of their other existing alternatives.

Pedersen must take advantage of Portsmouth’s recent transfer activity, since Bishop should be at Hillsborough sooner rather than later.