Picking up two wins from their last three Championship games, there could still be light at the end of the tunnel for Sheffield Wednesday's survival chances in the second tier when all hope had begun to look lost.

Ike Ugbo has been a standout performer since joining the Owls ranks in January from Troyes on loan, netting his third goal for Wednesday already at Millwall this weekend as Danny Rohl's men pulled off an impressive 2-0 away day win.

With Ugbo coming in and becoming a star man up top, Michael Smith's importance to the Wednesday cause has significantly lessened.

As a result, the second-tier side might well live to regret not trying to offload Smith with more vigour in January as the 32-year-old gradually bleeds the club more and more courtesy of his excessive pay packet despite now being on the fringes.

Michael Smith's salary at Sheffield Wednesday

Smith is currently the fourth highest earner at Hillsborough despite now primarily being an option Rohl brings on from the off the bench, coming in at a handsome £17.5k-per-week which could be better used elsewhere based on his output this campaign.

Rumoured fervently with a move to reunite with his ex-Rotherham United boss Paul Warne at Derby County in January, Smith only has three goals next to his name when he's been in the thick of the action for the Owls away from all this talk.

In stark contrast, Ugbo – from just three games – has managed to match Smith's total for Wednesday with the ex-Chelsea attacker on seven goals for the campaign overall after having his Cardiff City loan cut short to relocate to South Yorkshire.

Rohl and Co will see the deal to land Ugbo on loan until the end of the season as a masterstroke, with the 25-year-old centre-forward a more affordable option to keep on the books than the waning Smith.

Moreover, his clinical edge in front of goal means he comes out on top over the lacklustre 32-year-old attacker.

Smith's wage compared to the rest of the Wednesday squad

Smith's bulky pay packet means he's currently one of the highest earners in the Owls squad, with the likes of Barry Bannan unsurprisingly above him on an even heftier £24k-per-week according to Capology.

The likes of Jeff Hendrick and Kristian Pedersen are also burning holes in the Owls' pocket with their wages on loan – with the Newcastle United loanee specifically coming in at an eye-watering £35k-per-week – but Ugbo thankfully comes in as a cheaper option than this expensively priced duo.

1. Jeff Hendrick

£35k

2. Barry Bannan

£24k

3. Kristian Pedersen

£18k

4. Michael Smith

£17.5k

5. Will Vaulks

£15.9k

Ugbo boasts a reasonable £15k per week wage playing for Wednesday in comparison, justifying his salary with his recent golden streak in front of goal compared to a quiet Smith.

Smith's last two goals for the Owls came all the way back in October, with the likes of Anthony Musaba – who is on a significantly less extortionate wage than the 32-year-old forward at £9k per week – leading the goalscoring charts at Hillsborough with six goals away from the ex-Millers man.

Wednesday will need to look at offloading a lot of their ageing high earners if the South Yorkshire side succumb to relegation come the end of the season, with Smith high up the potential list to ditch.

Ugbo could well be kept around permanently on the contrary based on his current goalscoring heroics, as Rohl and Co aim to assemble a squad for the long-term that doesn't cost excessive amounts.