Wrexham have been interested in signing Michael Smith for some time now.
Wrexham held talks to sign Michael Smith last summer before eventually instead paying a then club-record fee for Modou Faal.
Interest in the striker returned in January 2025, with Shaun Harvey travelling to Sheffield Wednesday to try and get a deal done.
Meanwhile, it was reported earlier this week that Wrexham are still interested in signing Smith.
On that front, the North American-backed outfit have been handed a boost this week.
It comes as Smith has terminated his Sheffield Wednesday contract and will now become a free agent.
Here are all the potential winners and losers from a Smith transfer to Wrexham.
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Winners from a Michael Smith transfer to Wrexham
Phil Parkinson
As has become so clear, Parkinson has been trying to sign the now former Sheffield Wednesday man for some time.
He was a top target in the previous two windows, but the Owls were preventing a deal.
Now that they are out of the picture thanks to their financial problems, however, Wrexham have a clear run at the striker, with the only other reported interest coming from sides in the lower leagues – Blackpool and MK Dons.
Wrexham fans
Wrexham fans have been demanding signings this week after watching their club lose to Sydney.
At present, two transfers have been completed, but one of them is expected to be a backup goalkeeper.
This has raised concerns about the squad’s ability to compete in the Championship next term.
But signing an experienced striker like Smith, who is well-proven in the second tier, should ease those concerns.
Losers from a Michael Smith transfer to Wrexham
Ollie Palmer
Ollie Palmer has returned for Wrexham over pre-season, playing both of their fixtures so far despite losing his place in the second half of 2024/25.
It comes after Sam Smith and Ryan Hardie have both picked up issues preventing them from featuring.
But a Smith arrival at the Racecourse Ground would see Palmer once again pushed far down the pecking order, likely below Hardie, Jay Rodriguez and Smith in the big-man role.
Modou Faal
Modou Faal has already found minutes hard to come by since he arrived for big money last summer.
With Steven Fletcher, Paul Mullin and Sam Dalby leaving recently and just Hardie arriving, there may have been a chance he could play some minutes in 2025/26.
But Wrexham signing Smith would surely kill any hope of that, with a loan move for the attacker probably the best option.