Sheffield Wednesday have just earned a £1.95m financial boost, but it’s come at a cost

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Sheffield Wednesday are saving money following the latest club announcement, but it’s probably not worth it.

The Owls have been making headlines once again this week, though, as has become commonplace, it’s not really good news.

EFL Analysis revealed on Thursday that Danny Rohl is leaving Sheffield Wednesday after his position became ‘untenable’.

It’s expected that assistant manager Henrik Pedersen will take charge of the first team once the German’s exit is confirmed.

Sheffield Wednesday players respect Pedersen, but he’s expected to have a threadbare squad to start the season.

It comes with a number of players leaving Hillsborough this summer, the latest two being Josh Windass and Michael Smith.

Sheffield Wednesday money saved on Josh Windass and Michael Smith wages

Wednesday released a statement on the evening of July 17, confirming both players are leaving.

They wrote: “The Owls can confirm that the current contracts of Michael Smith and Josh Windass have been terminated by mutual consent.

“Sheffield Wednesday thank Michael and Josh for their services and wish them well for the future.”

Sheffield Wednesday have been selling players for below their market value this summer in order to earn cash.

And while it’s obviously a massive blow to see the club losing another two top names, they were high earners.

As per Capology, Windass was taking home £1.04m-a-year, while Smith was netting £910,000-a-year.

It means the Owls’ wage bill has been reduced by £1.95m-a-year following their contracts being terminated.

Josh Windass and Michael Smith Sheffield Wednesday stats

Windass finished 2024/25 with 13 goals and five assists in 44 Championship appearances.

In total, he’s scored 52 goals and assisted 23 during his nearly five-year spell at Hillsborough.

As for Smith, he found the back of the net eight times in the second tier last term, as well as assisting four.

He scored 32 and assisted 14 in his 127 matches for Sheffield Wednesday.