As they dropped down to League One, the Owls signed a number of players last summer as they looked to get back to the Championship.
Sheffield Wednesday had to act smartly in the transfer market last summer as they focused on free transfers and loans. It has not been enough to ensure promotion and they will be a League One club again next term.
Loovens thinks it is best that Sheffield Wednesday do not get stuck in the third tier for a long amount of time and for that reason he thinks the Owls should think of investing in the team.
The former centre-back feels though that with the form showed by the team towards the tail-end of the season, they have a chance of clinching promotion next term.
Speaking to Yorkshire Live, Loovens said: “It is tough when you get stuck in the circle of not getting up.
“You don’t want to get stuck around in a league for ages.
“It is better to invest now and get up straight away rather than leave it a little bit.
“I think the way they [Wednesday] ended the season gives them hope for next year.
“At the beginning, they were a bit inconsistent but then they started to get on a good run.
“I would like to see the fans, the staff and the chairman have success.”
Sheffield Wednesday managed to finish fourth in League One and five points off the automatic promotion slots, which they will be aiming for next season.
