The Owls swung the axe on Wednesday night and got rid of Xisco Munoz as the club’s manager.
The Spaniard did not win any of his first ten Championship games and Tuesday night’s 1-0 defeat to West Brom was the breaking point for the club.
Wednesday are now on the lookout for a new manager and are keen to bring in someone experienced in the Championship.
Jones has been linked with the job but it has been claimed that he is not in the running to be the Sheffield Wednesday manager.
He has been out of work since leaving Southampton in February following a harrowing run of results.
However, the Welshman is experienced in the Championship and had a solid record at Stoke and Luton Town.
Sheffield Wednesday even contacted him but it has been suggested the timing is not right for Jones.
They have moved on to other targets and the process is moving quickly towards the club finalising their new manager.
It remains to be seen where Jones will return to the game, but it will not be at Hillsborough.
