The Polish star was subject to a bid by The Owls but The Saints asked for further financial demands and Wednesday pulled out off talks straight away.
Boss Brian Laws says: "I have seen the contents of the letter from Southampton and they accepted a substantial offer but they have now changed their demands. It's been very frustrating because they have changed the goalposts."
If that will not dishearten Owls supporters, the news that Chris Brunt is set to play out the rest of the season and leave on a nominal fee next summer surely will - although there is a slim hope he could still sign a new deal.
Brunt clearly wants to play Premiership football and has stated in the past he wants to do it with Wednesday - although his wage demands were too much for the club.
Laws though reassures supporters that the Northern Ireland international will still give his all.
He told the club's official site: "He's going to get his head down and show everybody that he is worthy of going to the Premiership and it's an important year for him.
"If he doesn't sign, it's disappointing but he's not a free agent and can't walk away from the club. It's been documented that he's going nowhere, that's what I want to hear from the chairman - we don't want to be classed as a selling club."
Because Brunt is under 24 - there will be a nominal compensation payment made to Wednesday because he players under that age cannot leave for free under the Bosman ruling.
The winger has been linked with moves to Everton and Fulham today in the press.
Wednesday take on Port Vale tomorrow in the latest of their pre-season friendlies with Oldham and Birmingham coming up soon on the back of the trip to Burslem.