Owls legend David Hirst says new owner Dejphon Chansiri will have to spend big if he is to achieve his goal of getting the club back into the Premier League.
Chansiri has targeted top flight football in time to celebrate Wednesday’s 150th anniversary in 2017.
Hirst believes that goal is within reach but says there is plenty of work to be done to make it a reality.
“He wants Premier League in two seasons which is attainable but finances will dictate it,” Hirst said.
“If he’s serious he’ll have to spend a lot of money in the summer.
“How much he spends and on what will answer a few questions.
“Will he spend money on the stadium, the academy and training facilities or the first team? Or will it be all of them.
“Mr Chansiri will need a large cheque book.”
Hirst has offered backing to Chansiri after the Thai businessman appointed Adam Pearson and Glenn Roeder to work alongside head coach Stuart Gray as sporting directors.
And he believes Gray is the right man to lead the Owls back to the top flight.
He said: “I played alongside Stuart at Barnsley and he’s done a fantastic job this season. For me he’s the right man for the job.
“I get to speak to him and Lee Bullen around the ground.
“Both Adam and Glenn have done well in the game.
“Whether they can all form a good working relationship is a question we can’t answer yet.
“They know what it takes and if they get the backing we hope they get and use it wisely, the club has a great chance.”