There aren't many clubs in need of a bigger summer transfer window than Sheffield Wednesday. Now that Dejphon Chansiri's reign of terror is over, the Owls are in League One and finally ready to welcome reinforcements.

They're not looking to hang around in the third division for too long, either. New owners, the Storch family, have already set their sights on some statement signings, including Barry Bannan.

The midfielder only left for Millwall in January, as he reached the end of his tether amid off-pitch problems at the club. Now, with a new era set to get underway, the former club captain is expected to make a swift return.

Rumours have also refused to go away about Jamie Vardy, who is currently a free agent after leaving Cremonese at the end of the season. It would be quite the full-circle moment if he returned to his boyhood club at the end of his career.

Alas, it's not all good news at Hillsborough. Alongside some statement incomings, there's also set to be a major outgoing. Reports are now claiming that Svante Ingelsson is set to join Stoke City in a deal which will reach at least £1m.

The midfielder was the Player of the Season for the Owls in the last campaign, but they've now been forced to find an instant replacement.

Sheffield Wednesday agree deal for Ingelsson replacement

The club's rapid movement in the market would suggest that they've been expecting Ingelsson's departure this summer in what has been described as an amicable exit.

Those at Hillsborough have wasted no time before finding a replacement, either. According to Football Insider's Pete O'Rourke, Sheffield Wednesday have now agreed a deal to sign Callum Slattery, who is set to leave Motherwell as a free agent at the end of June.

It's a bargain deal for the Owls, who are set to sign a former Chelsea gem and someone who should have no trouble replacing Ingelsson next season.

The numbers show that Slattery is an all-rounder in the middle of the park and is even likely to provide the added goal threat that Ingelsson struggled with. At a bargain price, it's an excellent deal.

Losing Ingelsson is a major blow for Sheffield Wednesday

Even with a replacement on the way, losing Ingelsson is a major blow for the Owls. There are several reasons why he stood out as their best player last season, but the truth is that he is not a League One player.

Wednesday will be glad to have at least cashed in, and they'll be hoping to see their midfielder up close and personal in the Championship as early as the 2026/27 season.

Of course, Bannan is also proof that anything can happen. If the Owls earn instant promotion and the opportunity arrives, then perhaps another chapter is to come in Ingelsson's Sheffield Wednesday story.

Max Lowe "excited" by Sheffield Wednesday stay

One player that Wednesday won't be losing is Max Lowe. The defender put pen to paper on a new deal earlier this week and expressed his delight by saying: "I can’t wait. It's been hectic, but I'm delighted to get this sorted as quickly as we could. A lot of people behind the scenes have worked really hard and I'm delighted it's all come together at the right time.

"The fans have been great with me since day one and I'm loving the support – I can only thank them. It's no secret that it was a special day against West Brom, and I said how I felt after the game. It's a special club and I felt like that was just a teaser of what’s to come."

Read next: Sheffield Wednesday facing blow as Man City accelerate plans to sign Charles