Owls chairman Milan Mandaric is adamant the Championship club will be prudent in the transfer market over the summer despite Hafiz Mammadov’s arrival.
Azerbaijani businessman Mammadov completed his takeover of Sheffield Wednesday, subject to Football League ratification, nearly a fortnight ago.
Mammadov, the founder of the Baghlan Group, which specialises in oil, gas, construction and transportations, is expected to provide head coach Stuart Gray with significant funds to strengthen his squad during the close season.
“Mr Mammadov is a very bright guy,” Mandaric said. “He’s very ambitious. He wants the club to get back into the Premier League.
“As I’ve always said, that was the main reason why we put the deal together, but he’s not going to just throw money in.
“Money will be spent properly and in the right way. We will have a good competitive team that will be challenging.”
With Mammadov’s financial support, Mandaric has confirmed improvements are likely to be made to the ground, including the scoreboard. More money will also be ploughed into the club’s academy.