The 30-year-old is one of several players who have been linked with a move away from Hillsborough after the Owls failed to retain their Championship status.
Borner, who joined Sheffield Wednesday on a free transfer in 2019, has been linked with a return to Germany, where second division club Hannover are interested.
There have been suggestions that the central defender has agreed to put pen to paper on a three-year deal with the 2. Bundesliga club, but the deal is far from complete.
Hannover are in negotiations with Darren Moore’s side over a deal for Borner, who still has one more year remaining on his contract with the Owls.
With the defender having one more year to run on his deal, Sheffield Wednesday are looking to bag a transfer fee for his sale, contrary to claims that he could leave for free.
The League One outfit appear to have a sum in mind for the former Arminia Bielefeld centre-back, but Hannover are yet to meet the valuation.
As things stand, the 30-year-old is expected to report back at Sheffield Wednesday when they kick off their pre-season training on Friday.
