'We will play a key role in football's future' - independent football regulator David Kogan
The team's current difficulties constitute a "significant problem" and the new football authority is seeking powers to look into club affairs in similar circumstances, the recently named head the regulator has declared.
In a wide-ranging interview, the chairman, who was named to the position this week, showed understanding towards Wednesday's fanbase.
The chairman convened with four supporters' associations representing the South Yorkshire club this week.
The Championship side have been experiencing difficulties in multiple areas in 2025, with the club delaying salary disbursements on multiple instances, including in last month.
"Obviously the club has become a significant problem for EFL and a substantial concern for English football," the regulator explained.
"Wednesday stands as one of the great brands for football in England and recently we have met supporters' organizations.
"We're now looking to get powers... which will allow us to have Sheffield Wednesday - and other clubs brought to our attention if they warrant scrutiny and dealt with."
Financial Struggles and Leadership Concerns
The team's struggling chairman the current owner indicated in the summer he would be prepared to relinquish control at the stadium, but he has been unable to finalize an agreement with prospective buyers.
Failure to pay player wages on time in spring months caused limitations by the English Football League (EFL) in June, preventing the club from carrying out any player acquisitions for the next three transfer windows, although those limitations were removed in late summer.
Authority's Position
The chairman stated: "The position was created for the Owls followers, other clubs in similar situations where fans are dedicated to a community organization that has represented their community in many cases.
"I have absolute sympathy for the team's plight, as I do for every team that in modern times have encountered failure, or approached financial ruin, for factors unrelated to the followers."
Questioned about whether the authority might compel an chairman to relinquish a club if they are considered unfit, the regulator answered: "Should the inquiry concern 'would we intervene in the final instance?', the response would be once we collect the information and understand the situation, we will."
But the chairman emphasized that compelling proprietors to divest clubs would be viewed as the ultimate measure and the regulator would prefer to collaborate with owners.
"Our least desirable course of action is begin intervening in an specific team, an specific proprietor, without having the opportunity to collaborate with that proprietor to address the challenges confronting the team and the owner's facing," Kogan said.
"In actuality, when you look back over the history of football, over the recent generations there have been some owners, not many, but certain individuals who have acted carelessly in the manner they have operated their clubs and ultimately decline to assume obligation for the coming years."
Owls fans have been protesting against owner Dejphon Chansiri in recent months
'Mistakes could erase significant advances'
The chairman convened with officials from numerous teams to detail the scope of the regulator on Wednesday and maintained it represented a "forward-thinking discussion" with a "substantial involvement" from the grassroots to elite level.
"The role holds considerable importance, because if errors are made, if the sport makes errors, the extraordinary progress that's been made necessary will vanish swiftly," the regulator warned.
"This represents everyone's worst fear in the realm of domestic football is a huge success story - we need to continue the progress.
"There's an enormous amount of money coming into football and has come into football for the recent generations, because there are no assurances it will keep flowing into the sport, which is among the factors explaining I think we have to take a really clear view on challenges and obviously, of the next two or three years."
Top Flight Apprehensions
Elite division representatives objected to the formation of an authority because of concerns about detrimental effects on the top-flight's competitiveness, but Kogan said: "I completely endorse the prosperity and expansion as an financial organization of the elite league.
"I of all people understand the worry about compromising the Premier League as a premium product of the nation. But simultaneously, if you talk to the Premier League after this week's discussion, they would have had a substantial amount of confidence -and, indeed, they have been telling us in private they have a considerable comfort."
Political Connections
The regulator remains subject to a "full inquiry" by the Commissioner for Public Appointments after he revealed he contributed money to the opposition group in the past.
The 68-year-old contributed funds to government minister the politician's campaign, along with that of the current Prime Minister.
"I've been completely open about my previous political affiliation [with Labour], and that political affiliation came to an end the day the select committee approved my appointment," the regulator explained.
"I am presently disconnected from any sort of politics."
