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The Championship club's ongoing struggles represent a a "significant problem" and the football regulator is looking to gain the ability to examine team situations in similar circumstances, its new chair David Kogan has declared.

Through a comprehensive talk, Kogan, who was named to the position this week, expressed "sympathy" towards Wednesday's fanbase.

The chairman convened with four supporter groups connected to the football team in recent days.

The Championship side have been struggling on and off the field in 2025, with the club failing to pay players on time on several different times, including in September.

"Clearly Sheffield Wednesday has been a major concern for the league and a substantial concern for English football," the chairman stated.

"Wednesday stands as one of the historic institutions for football in England and this week we have met fan representatives.

"Our aim is to acquire the ability... which will permit us to bring the club and similar situations referred to us if they need to be investigated and addressed."

Financial Struggles and Proprietorship Status

Wednesday's embattled owner the Thai businessman suggested earlier this year he would be open to selling the club at the stadium, but he has failed to complete a sale with potential new owners.

Delayed salary payments on time in earlier this year led to sanctions by the football authorities in June, stopping Wednesday from completing any player acquisitions for the subsequent signing windows, although those limitations were removed in August.

Regulator's Perspective

Kogan said: "Our role exists to serve the Owls followers, Bury or any football club where supporters are loyal to a regional establishment that has represented their community in numerous instances.

"I have absolute sympathy for the club's situation, as I do for each organization that over recent decades have faced collapse, or been close to going to the wall, for reasons that have nothing to do with the followers."

When asked if the oversight body could require an owner to sell a club if they are considered unfit, the regulator answered: "Should the inquiry concern 'would we intervene in the final instance?', the reply is once we assemble the facts and understand the situation, we will."

But Kogan stressed that forcing owners to sell clubs would be viewed as the ultimate measure and the authority would rather to work with them.

"The last thing what we want to do is begin intervening in an specific team, an specific proprietor, without being able to work with that owner to try and resolve the problems affecting the organization and the owner's facing," Kogan said.

"In actuality, when you look back over the history of the sport, over the recent generations there have been some owners, few in number, but some who have been irresponsible in the way which they've been managing their organizations and finally don't wish to take responsibility for the long-term prospects."

'Errors may undo substantial development'

The chairman convened with delegates from multiple organizations to explain the responsibilities of the authority recently and insisted it was a "proactive meeting" with a "high level of engagement" from the grassroots to elite level.

"This position carries substantial significance, because if we get it wrong, if the world of football gets it wrong, the significant advances achieved necessary will vanish rapidly," the regulator warned.

"And that's what nobody wants in the terms of English football is a major achievement - we've got to keep it going.

"There's an enormous amount of money flowing into the game and has come into football for the last 20 or 25 years, because there are no assurances it will persist in entering the game, which is part of the rationale behind I think we have to maintain a focused outlook on risk and of course, of the coming seasons."

Elite Division Worries

The Premier League opposed the formation of an authority because of apprehensions regarding adverse consequences on the elite division's competitive balance, but Kogan said: "I'm absolutely committed to the achievement and development as an financial organization of the elite league.

"As someone who appreciates the concern of undermining the Premier League as a premium product of this country. But at the same time, if you consult with top flight officials after this week's discussion, they would have had a significant degree of comfort -and, indeed, they have been telling us in private they have a significant confidence."

Political Connections

Kogan is still facing a "comprehensive investigation" by the official appointments authority after he disclosed making donations to the Labour Party in recent years.

The chairman provided financial support for government minister the minister's leadership bid, along with that of the government leader.

"I have fully disclosed my past party membership [with Labour], and that ideological connection terminated the day the select committee approved my appointment," the regulator explained.

"I currently have no participation in any type of partisan engagement."