Despite a healthy bid of £7m the Ram have seen their bid for Argentinean striker Fernando Forestieri rejected.
The 26 year-old striker was missing from the line up for Wednesday's 2-1 defeat against Cambridge in extra time last night, but the ommision was not connected with any move by the Rams.
Sheffield Wednesday manager Carlos Carvalhal has said that they are not a selling any player.
Foreestieri has publicly stated that he would be happy to spend the rest of his career with the Yorkshire club.
Nigel Pearson would not be drawn on the situation last night and will let the public know only when discussions are at an advanced stage over any potential signing.