Coventry City have completed the signing of Richard Wood from Sheffield Wednesday on loan until January with a view to a permanent move.
Wood was recently placed on the transfer list at Hillsborough after rejecting an offer to extend his contract, which expires at the end of the season.
The Owls revealed they were unable to match the defender's demands and have now allowed the 24-year-old to join their Championship rivals.
He is expected to sign a three-year contract at the Ricoh Arena in the New Year and Sky Blues boss Chris Coleman is delighted with the deal.
"Richard has been a long-term target for the club and we are pleased to have him here," Coleman told the club's official website.
"This is an area of the team that I have wanted to strengthen and this is a great addition to the squad in the short term and we will look to make it permanent in January."
Owls manager Brian Laws is satisfied that the club will at least receive a fee for Wood, who was also linked with Ipswich Town and Notts County.
Laws commented: "The deal we have agreed with Coventry means that, while we could have commanded a greater fee if we had been given this position from Richard and his agent in the summer transfer window, we have secured some return for the club as opposed to the zero return we would have received when his contract runs out next summer.
"I will be able to utilise the freed up budget to strengthen our squad ahead of the busy schedule of festive fixtures."