Wednesday take on already promoted Watford next weekend and Gray says that his team are running with the bare minimum of players.
The likes of Lewis McGugan and Kamil Zayatte are both currently out and neither of the key pair are expected to make it back before the end of the campaign.
“We are down to the bare bones and I don’t think we will have anyone back for the final game," Gray said.
The news will be a blow to Wednesday, as their patched up backline has already been exposed.
The Owls lost 2-1 to Leeds United last Saturday and the task which awaits them on the final day is far from an easy one.
Watford may have been promoted, but they will be aiming to secure the title when they face Gray's side and it could be a good opportunity for them.
Wednesday's form has dipped since the moment they seemed destined to finish in mid-table and the end of the season will be welcomed by most at Hillsborough - as it will give them a chance to focus on next campaign, where they will be amongst the favourites for promotion.