Sheffield Wednesday’s new owners, Arise Capital, have brought about numerous changes both on and off the pitch.

However, one thing has remained constant from the old to the new regime: Henrik Pedersen continues to lead the first-team squad.

The Dane took over the club in the summer of 2025, having previously served as an assistant to Danny Rohl.

A disastrous season saw the Yorkshire club earn 18 points from 46 Championship games, with a thin squad struggling due to significant financial problems.

The new owners also invested in the squad over the summer, bringing in 18 players in the hopes that Pedersen could lead a promotion push.

However, the 48-year-old is under increasing pressure to deliver results, and here are six managers Sheffield Wednesday should consider replacing him if they decide to make a change in the dugout in response to fan criticism.

Dave Challinor

Given his relationship with Sheffield Wednesday’s sporting director Simon Wilson, Dave Challinor is the most logical candidate to take over the club.

Before leaving earlier this year, the pair worked together at Stockport County, guiding the squad to consecutive promotion pushes.

He understands League One and how to compete at this level, making him an ideal substitute for Pedersen if a move is necessary.

Phil Parkinson

Phil Parkinson is now the manager of Wrexham, and he has no plans to go to a League One club anytime soon.

However, he is under increasing pressure in his position, with Steven Gerrard and Scott Parker apparently vying for his job.

If the Wrexham manager becomes available, Sheffield Wednesday may jump at the opportunity to hire him, especially given his recent track record in the third division.

Carlos Corberan

Carlos Corberan would be a real display of ambition (although exceedingly unlikely) from Sheffield Wednesday, as the Spaniard is currently out of work.

His reputation suffered as a result of his departure from Valencia, which came when the club was struggling in La Liga.

However, his proactive, attacking style of play has proven successful in the Championship at Huddersfield and West Brom, and he would be an excellent replacement for Pedersen if he can be persuaded to join the Hillsborough project.

Ryan Lowe

Ryan Lowe’s tenure at Wigan Athletic did not go well, but he still has plenty of Championship and League One experience.

Of course, the 48-year-old played for Hillsborough for a season, so he is familiar with the club.

His drive to play aggressive, attacking football may make him a natural successor to Pedersen, as well as a catalyst for this assault, particularly Mason Burstow.

Steve Cooper

Steve Cooper’s reputation has suffered as a result of poor performances at Leicester City and Danish giants Brondby, so it may be a good moment for Sheffield Wednesday to make an approach for what appeared to be an odd choice a few years ago.

The 46-year-old understands what it takes to succeed at the highest level, and his promotion to the Championship with Nottingham Forest demonstrates the influence he might have at Hillsborough.

If he is willing to make the step down to League One, he could be a wise choice as a potential successor for Pedersen.

Matt Bloomfield

Matt Bloomfield’s tenure at Luton Town and Oxford United did not go as planned, as both clubs were relegated from the Championship at the time.

However, his Wycombe Wanderers club was in contention for promotion from League One, which secured him the promotion up the tiers.

While the 42-year-old isn’t necessarily the Owls’ first choice, he has a track record of success at this level and may be a wise hire if more ambitious choices fall through.