The 21-year-old is currently on loan at Tranmere Rovers and according to Sky Sports News, he will remain with the League One outfit until the end of the season.
It had been suggested that that Ronnie Moore was keen to sign the midfielder on a permanent basis, but Owls boss Dave Jones has already started contract discussions.
Palmer has made 24 appearances for Tranmere this season.
Restore Data
| Team | P | W | D | L | F | A | GD | PTS | |
| 1 | Ipswich TownIpswich | 43 | 26 | 11 | 6 | 85 | 53 | 32 | 89 |
| 2 | Leicester CityLeicester | 42 | 28 | 4 | 10 | 79 | 38 | 41 | 88 |
| 3 | Leeds UnitedLeeds | 43 | 26 | 9 | 8 | 76 | 34 | 42 | 87 |
| 4 | Southampton | 42 | 25 | 9 | 8 | 84 | 54 | 30 | 84 |
| 5 | West Bromwich AlbionWest Brom | 43 | 20 | 12 | 11 | 66 | 42 | 24 | 72 |
| 6 | Norwich CityNorwich | 43 | 21 | 8 | 14 | 76 | 60 | 16 | 71 |
| 7 | Hull City | 42 | 18 | 11 | 13 | 62 | 54 | 8 | 65 |
| 8 | Coventry CityCoventry | 42 | 17 | 12 | 13 | 66 | 52 | 14 | 63 |
| 9 | Middlesbrough | 43 | 18 | 9 | 16 | 61 | 56 | 5 | 63 |
| 10 | Preston North EndPreston | 43 | 18 | 9 | 16 | 56 | 60 | -4 | 63 |
| 11 | Cardiff CityCardiff | 43 | 18 | 5 | 20 | 48 | 60 | -12 | 59 |
| 12 | Bristol City | 43 | 16 | 10 | 17 | 50 | 46 | 4 | 58 |
| 13 | Sunderland | 43 | 16 | 8 | 19 | 52 | 50 | 2 | 56 |
| 14 | Swansea CitySwansea | 43 | 14 | 11 | 18 | 53 | 62 | -9 | 53 |
| 15 | Watford | 43 | 12 | 16 | 15 | 59 | 58 | 1 | 52 |
| 16 | Millwall | 43 | 13 | 11 | 19 | 42 | 55 | -13 | 50 |
| 17 | Blackburn RoversBlackburn | 43 | 13 | 10 | 20 | 57 | 71 | -14 | 49 |
| 18 | Plymouth ArgylePlymouth | 43 | 12 | 12 | 19 | 58 | 66 | -8 | 48 |
| 19 | Queens Park RangersQPR | 43 | 12 | 11 | 20 | 40 | 57 | -17 | 47 |
| 20 | Stoke CityStoke | 43 | 12 | 11 | 20 | 41 | 60 | -19 | 47 |
| 21 | Birmingham CityBirmingham | 43 | 12 | 9 | 22 | 48 | 64 | -16 | 45 |
| 22 | Huddersfield TownHuddersfield | 43 | 9 | 17 | 17 | 47 | 70 | -23 | 44 |
| 23 | Sheffield WednesdaySheff Weds | 43 | 12 | 8 | 23 | 36 | 67 | -31 | 44 |
| R | Rotherham UnitedRotherham | 43 | 4 | 11 | 28 | 32 | 85 | -53 | 23 |
| > Championship Full Table | |||||||||
