Glasgow Rangers are not blessed with millions to spend in the transfer market and have had to recruit on a budget in recent seasons.
One of their biggest hits has been Josh Windass, signed from Accrington Stanley two seasons ago with his contract expiring.
Hirst is rated as one of England's most promising young strikers, but his career has stalled after he refused to sign a new deal, and has bee continually left out of the first team.
Rangers should consider him as an alternative to Swansea forward Oli McBurnie, whose form on loan for Barnsley will make him an expensive addition.
Clubs would normally be required to pay compensation to Wednesday for Hirst, but as Rangers are in Scotland they would only have the pay a very minimal amount, similar to the Windass situation.
Hirst, 19, has four goals in five games for England at under-20 level and three in three for the under-19s.
He could benefit from playing for Graeme Murty's side and developing in the same way Windass has.
The move would be a worst possible outcome for Sheffield Wednesday as they would miss out on compensation for his departure, but for Rangers it could be a masterstroke.