Owls confirm Yorath stay
Former Welsh boss Yorath has been in charge as caretaker at the cash-strapped Owls since Peter Shreeves left the club in October and the club's board are now satisfied that he is up to the job.
The club announced the news at a press conference on Friday when they confirmed the appointment that may not go down too well with the Wednesday faithful.
The Owls' fans have been highly critical of Yorath despite him being successful in fending off relegation, and they have campaigned for his resignation for some time.
He will now be charged with the task of building a squad capable of a much stronger showing in Division One next season but is unlikely to have any money at his disposal to buy new players.
Considering the club's financial worries, Yorath is set to find some extra cash by getting rid of some of the top earners at the club by putting them on the transfer list.
Gerald Sibon, Simon Donnelly, Phil O'Donnell and Efan Ekoku are the most likely names to be squeezed out in order to take the weight off the club's wage bill.
Former Ajax man Sibon and Ekoku are thought to be the highest earners while the ex-Celtic pair of Donnelly and O'Donnell have been hit by injuries and have not lived up to their reputations since moving from Scotland.
Numerous fringe players have already been axed from the wage bill as Yorath looks towards the youth players, while Danny Maddix, Marlon Broomes and David Burrows have been told that the renewel of their contracts depends on the fate of the ITV Digital money.
Former QPR defender Maddix is hopeful of getting a new deal as his contract expires in the summer, with the 35-year-old saying he has enjoyed his stay in The Steel City.
"I'd definitely stay," said Maddix. "It's a massive club and we have some good players.
"It is hard to believe the position we've been in. Hopefully next season we can set our stall out early on and start to do things."
