The Fulham striker has been linked with a £12 million move to Hillsborough.
Only one Championship player managed more goals than McCormack last season
The 29-year-old was the Championship's second top scorer last season - finding the net on 21 occasions - and has also been linked with Newcastle United, Aston Villa and Norwich City.
The Owls, however, are being tipped to battle the relegated trio as they look to build a promotion winning side of their own, having lost to Hull City in last month's play-off final.
The Owls came agonisingly close to ending their Premier League exile
Carlos Carvalhal's team were reported to have lodged an unsuccessful £10 million for McCormack in last summer's transfer window, but later added Gary Hooper for less than a third of the price.
And the rumour appears to have split supporters on Twitter, with many feeling McCormack's credentials speak for themselves, while others believe the eight-figure asking price is far too steep.
Chairman Dejphon Chansiri has vowed to do all he can to secure promotion
Here's the best of the reaction... But which camp are you in?
Wasn't thrilled when we were after Ross McCormack last season, but now we've got a settled team, he could be a great addition! #SWFC— Josh Bradshaw (@Jaybe07) 10 June 2016
We need McCormack. Hooper not consistent enough IMO McCormack 21 goals in a team that finished 20th... Speaks for it's self #swfc— Stebbo (@Stebbzy3) 10 June 2016
McCormack is worth £12m. Look at the types of goals he's scored as well as the amount. The man is lethal— Connor Thorpe (@ConnorTSWFC) 10 June 2016
McCormack is a proven goal scorer in this division done it multiple times with Leeds and Fulham, I'm not surprised he's valued at 12m #swfc— Sam Rawling (@SamWAWAW) 10 June 2016
People are acting like they'd have to pay 12 million for McCormack if Chansiri wants to spend 12 on him I'm game get him signed! #SWFC— Billy Thomas (@BillyThomasss) 10 June 2016
If we have £12m to spend on one player while still being able to get a few more in I'd take McCormack in a heartbeat. #swfc— Alex Strodder (@AlexStrodder) 10 June 2016
The typical Yorkshiremen
McCormack could be lethal for us but for £12m we could bring Brunt and Whelan back to give some bite to midfield which we need more #swfc— Robbie Jamieson (@robbiej2906) 10 June 2016
I doubt the McCormack story but do think Hooper needs a quality partner who has more to their game than just goals. FF & GH dont work as a 2— Steve Craine (@stevecraine) 10 June 2016
The party poopers
We're not spending 12m on McCormack so get that pathetic idea out of your heads— Joseph (@joseph_swfc) 10 June 2016
We aint getting McCormack, shut up— Joe Davison (@JDSWFC) 10 June 2016
McCormack to Wednesday: Could it happen?