Taylor currently looks set to leave Elland Road during one of the next two transfer windows. BBC Sport reported that the left-back is out of contract at the end of the season, and he handed in a transfer request during the summer, which was rejected by the Whites.
Fleetwood Town's David Ball and Leeds United's Charlie Taylor in action
With the 23-year-old still yet to agree fresh terms, it appears that he deems that his future lies elsewhere, seemingly putting a handful of clubs on alert.
While West Bromwich Albion's position as 2/1 favourites (via BetVictor) will surprise few, given that they have recently been linked with making a £4m bid (via Telegraph), and Newcastle's position alongside Everton at 6/1 may also stem from recent reports detailing their interest (via Chronicle), it is the Owls' place in the running that may surprise some.
Leeds United's Charlie Taylor (R) in action against Blackburn Rovers' Martin Samuelsen
BetVictor currently lists Wednesday as joint-fourth favourites to sign the full-back before the end of the January transfer window, with Norwich City and Derby County joining them at a price of 8/1.
Though Norwich's status as a team that only came down from the top flight last season and is in promotion contention this term will mean that their inclusion will make sense to many, Wednesday's apparent position in the running is perhaps slightly more surprising.
Sheffield Wednesday manager Carlos Carvalhal before the match
Carlos Carvalhal has done a wonderful job at Hillsborough and nearly took the Owls to the Premier League last season. However, this campaign, they currently find themselves 10th in the table, four places below Leeds.
But perhaps the bookmakers feel that the excellent work that the owners have done with Wednesday will appeal to Taylor after his time spent working under Massimo Cellino, especially if he believes that their current positions in the Championship will switch around at some stage.