Amidst their ongoing financial woes, one young Sheffield Wednesday midfielder has offered a glimmer of hope by putting pen to paper on a new contract with the Owls.

The club faces a deepening crisis, with owner Dejphon Chansiri battling the fallout from unpaid wages.

This summer, Wednesday’s three-window transfer ban rage on, resulting in a double embargo by the EFL.

The situation has intensified as many Owls stars have handed in 15-day notices after the latest month of missed payments, pushing Chansiri towards potential strike action.

Unfortunately, the crisis has now escalated further, with the Owls falling under a triple embargo by the EFL.

Yet, despite this troubling news, one player’s extended stay offers a much-needed hope for the club and its fans.

Sheffield Wednesday owner Dejphon Chansiri looks on before the Sky Bet League One Play-Off Semi-Final First Leg match between Peterborough United and Sheffield Wednesday at Weston Homes Stadium on May 12, 2023 in Peterborough, England. (Photo by Michael Regan/Getty Images)Photo by Michael Regan/Getty ImagesRio Shipston extends Sheffield Wednesday stay

The Star previously reported that 20-year-old Rio Shipston was a target for Cork City after his loan spell this year, but that the decision had been made for him to return to Sheffield.

Wednesday announced the news today, the day after revealing that Henrik Pedersen had agreed to stay on, giving Wednesday fans another bit of good news in what has been a very difficult period for the club.

“Rio Shipston has put pen to paper on a new contract at Wednesday,” they said in a statement.

“The young midfielder has been with the Owls since the age of seven, signing his first professional contract in December 2022. The 20-year-old spent the second half of last season on loan with Cork City, playing 20 games in the League of Ireland.”

Shipston said: “I am delighted to extend, it’s what I’ve been working towards when going out on loan.

“It was a good experience, I felt like I needed to do it for my career, and now I’m glad to be back.

“The people at Cork, I loved every single one of them, they made it easy for me to go over there.

“Living away from home was something I needed to do, and I feel like I’ve grown as a person as well, and now I’m looking forward to what’s next.” 

Cork City Squad Portraits 2025Photo By Stephen McCarthy/Sportsfile via Getty ImagesThe role Rio Shipston could play in the 2025/26 season 

Sheffield Wednesday’s ongoing transfer ban for the 2025/26 season significantly elevates the importance of Rio Shipston.

With the club unable to sign new players for a fee, they’ll have to lean heavily on existing talent like the 20-year-old midfielder.

Shipston presents an opportunity the Owls simply can’t afford to overlook. His recent loan spell at Cork City, adding to his senior experience, combined with the natural need for midfield depth under the embargo, creates a prime pathway for him.

Shipston, a central midfielder, could thrive alongside experienced players like Barry Bannan, who was rumoured for a move away from Wednesday.

Additionally, Nathaniel Chalobah, a more defensive-minded midfielder, could provide the solidity behind Shipston, allowing him to push forward.

His versatility across midfield roles further bolsters his case, making him a crucial asset as Wednesday navigates these challenging circumstances.