There had been repeated rumours that Wednesday would be looking to sack their manager, but it now seems he will be staying.
Carlos Carvalhal's future at Sheffield Wednesday is currently uncertain.
Sheffield Wednesday have spent in excess of £10 million on transfer alone this season.
Sheffield Wednesday's promotion challenge has derailed in recent weeks.
Sheffield Wednesday will be hunting promotion to the Premier League next season.
Sheffield Wednesday were beaten 1-0 by Hull City in the playoff final.
The Owls have reached the Championship play-off final.
The Owls are a win away from a Premier League return.
Sheffield Wednesday open their play off campaign on Friday evening.
Sheffield Wednesday midfielder Barry Bannan has enjoyed a great debut campaign for the club.