'We will play a key role in football's future' - newly appointed regulator David Kogan
The Championship club's ongoing struggles constitute a "major concern" and the independent regulator is aiming to acquire authority to investigate clubs in comparable cases, the recently named head the regulator has declared.
In a wide-ranging interview, the chairman, who was recently selected, showed understanding towards Wednesday's fanbase.
Kogan met with four supporter groups connected to the South Yorkshire club this week.
The team have been experiencing difficulties in multiple areas in 2025, with the club failing to pay players on time on five separate occasions, including in September.
"Obviously the club has become a significant problem for EFL and a major challenge for the sport," the chairman stated.
"The club represents one of the historic institutions for football in England and in recent days we have met supporters' organizations.
"We're now looking to get powers... which will enable us to take Sheffield Wednesday - and other clubs referred to us if they warrant scrutiny and addressed."
Monetary Issues and Proprietorship Status
The club's controversial proprietor the Thai businessman suggested earlier this year he would be willing to sell up at the stadium, but he has been unable to finalize an agreement with potential new owners.
Missed wage deadlines on time in spring months resulted in restrictions being imposed by the league officials in mid-year, preventing the club from carrying out any player acquisitions for the subsequent signing windows, although those limitations were removed in the end of the transfer window.
Official's Viewpoint
The regulator explained: "Our role exists to serve the Owls followers, teams facing challenges where fans are dedicated to a regional establishment that has been part of their lives in multiple situations.
"I completely understand the team's plight, as I do for all the clubs that over recent decades have faced collapse, or been close to going to the wall, for factors unrelated to the followers."
Inquired if the regulator could force an proprietor to divest a club if they are judged inappropriate, Kogan said: "If your question is 'would we intervene in the final instance?', the reply is once we gather the evidence and understand the situation, we will."
But Kogan stressed that compelling proprietors to divest clubs would be considered the final option and the oversight body would choose to collaborate with owners.
"Our least desirable course of action is commence engagement with an individual club, an particular chairman, without being in a position to cooperate with that proprietor to address the challenges confronting the team and the owner's facing," the chairman stated.
"In actuality, when you look back over the history of the sport, over the past few decades there have been some owners, not many, but some who have been irresponsible in the approach they have taken toward their clubs and ultimately refuse to accept accountability for the long-term prospects."
Owls fans have been voicing opposition to the team's chairman in recent months
'If we get it wrong, extraordinary progress vanishes'
The chairman convened with delegates from multiple organizations to detail the scope of the oversight body this week and stated it constituted a "progressive gathering" with a "high level of engagement" from the grassroots to elite level.
"It's a job that's actually really important, because should mistakes occur, if the football community fails, the remarkable development accomplished could disappear incredibly quickly," the regulator warned.
"This represents everyone's worst fear in the context of the English game is a substantial accomplishment - we need to continue the progress.
"There's an enormous amount of money flowing into the game and has been invested for the last 20 or 25 years, because there's no guarantee it will continue to come into football, which is one of the reasons why I think we have to take a really clear view on potential dangers and naturally, of the next two or three years."
Elite Division Worries
Elite division representatives objected to the creation of a regulator because of fears of a negative impact on the top-flight's competitiveness, but Kogan said: "I fully support the prosperity and expansion as an commercial operation of the Premier League.
"Being fully aware of the worry about compromising the top flight as an elite competition of the nation. But at the same time, if you talk to the Premier League after the recent gathering, they would have had a substantial amount of confidence -and, in fact, they have been telling us in private they have a significant confidence."
Ideological Links
The chairman continues to confront a "full inquiry" by the Commissioner for Public Appointments after he disclosed making donations to the Labour Party in the past.
The chairman donated money to government minister the minister's leadership bid, along with that of the government leader.
"I have fully disclosed my previous political affiliation [with Labour], and that party membership ceased the day the select committee approved my appointment," Kogan said.
"I am presently disconnected from any type of partisan engagement."
