Azerbaijani businessman Hafiz Mammadov bought French club RC Lens in 2013 with the ambition of returning them to the top flight and the same goal is said to be driving his bid for the Owls.
The 49-year-old made his fortune of several hundred million pounds as founder and chairman of the Baghlan Group which specialises in oil, gas, construction and transportations.
Mammadov’s close ties with the Azerbaijani government are said to have helped his business develop.
His strong interest in football saw him buy his local club FC Baku in 2004.
Baku have won the Azerbaijani championship twice during his time as owner and became the first team from the country to reach the third qualifying round of the Champions League.
However, the club’s competitiveness has dipped in recent years with Baku finishing fifth last season and failing to qualify for European competition.
Last summer he pumped in an initial 20m Euros into Lens to reignite the once-proud club.
He succeeded in his first season with Lens ending their three year exile from Ligue 1 after finishing third in the second flight.
Mammadov’s goal now is to deliver Champions League football for Lens.
He also has shares in Portuguese giants Porto and Spanish champions Atletico Madrid to whom he helped deliver the Azerbaijan - Land of Fire sponsorship which adorns their shirts.
Mammadov has been described in France as a level-headed club owner, not prone to rash decisions.
He is also said to be keen to take a back seat and allow others to run the clubs he owns.
He is said to have long held the desire to buy a club in England and is intrigued once again by the opportunity of reviving a sleeping giant such as Wednesday.
A fiercely private man, Mammadov remains somewhat of a mysterious figure despite his international business interests.
He is said to have a passion for French wine and luxury watch brands. He is also rumoured to carry seven mobile phones, employ 18 bodyguards and own five armoured Mercedes.