'We will play a key role in football's future' - football oversight chief David Kogan
The Championship club's ongoing struggles are seen as a "significant problem" and the new football authority is seeking powers to look into club affairs in comparable cases, the recently named head the official has declared.
In a wide-ranging interview, Kogan, who was recently selected, expressed "sympathy" towards supporters of the Owls.
The chairman convened with four supporters' associations associated with the football team in recent days.
The team have been struggling on and off the field in 2025, with the club delaying salary disbursements on five separate occasions, including in September.
"Obviously the club has become a significant problem for EFL and a significant problem for football," the regulator explained.
"Wednesday stands as one of the great brands for English football and in recent days we have met supporters' organizations.
"We're now looking to get powers... which will allow us to have the club and similar situations brought to our attention if they need to be investigated and dealt with."
Financial Struggles and Ownership Situation
Wednesday's embattled owner the Thai businessman suggested earlier this year he would be prepared to relinquish control at their home ground, but he has not been able to secure a deal with prospective buyers.
Delayed salary payments on time in spring months caused limitations by the league officials in June, blocking the team from conducting any transfers or loans for the subsequent signing windows, although that restriction was lifted in August.
Authority's Position
The regulator explained: "The job [of the regulator] is there for the supporters of Wednesday, other clubs in similar situations where supporters are loyal to a local institution that has been part of their lives in numerous instances.
"I have absolute sympathy for Sheffield Wednesday, as I do for every team that in modern times have encountered failure, or nearly ceased operations, for causes separate from the supporters."
When asked if the oversight body could require an proprietor to divest a club if they are judged inappropriate, the regulator answered: "Should the inquiry concern 'would we intervene in the final instance?', the answer is once we gather the evidence and understand the situation, we will."
But the regulator clarified that requiring chairmen to relinquish clubs would be considered the final option and the authority would rather to collaborate with owners.
"The last thing what we want to do is begin intervening in an particular organization, an specific proprietor, without being in a position to cooperate with that proprietor to address the issues that the club's facing and the proprietor's dealing with," Kogan said.
"In actuality, when you look back over the history of the game, over the past few decades there have been certain proprietors, few in number, but some who have been irresponsible in the manner they have operated their teams and eventually decline to assume obligation for the coming years."
Wednesday followers have been voicing opposition to owner Dejphon Chansiri in recent months
'Errors may undo substantial development'
The regulator engaged officials from numerous teams to detail the scope of the authority recently and insisted it was a "forward-thinking discussion" with a "significant participation" from the lower divisions to the top flight.
"This position carries substantial significance, because should mistakes occur, if the world of football gets it wrong, the significant advances achieved might evaporate rapidly," the regulator warned.
"And that's what nobody wants in the context of the English game is a huge success story - we must maintain momentum.
"Considerable investment coming into football and has been invested for the past two decades, because there are no assurances it will continue to come into football, 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."
Elite Division Worries
Top flight officials resisted the establishment of an oversight body because of concerns about detrimental effects on the elite division's competitive balance, but the chairman responded: "I completely endorse the prosperity and expansion as an financial organization of the top division.
"As someone who appreciates the worry about compromising the division as a high-quality offering of the nation. But concurrently, if you engage with division representatives after this week's discussion, they would have had a substantial amount of confidence -and, in fact, they have been informing us confidentially they have a high level of reassurance."
Political Connections
Kogan is still facing a "full inquiry" by the public appointments commissioner after he revealed he contributed money to the Labour Party in recent years.
The official contributed funds to Culture Secretary the minister's leadership bid, along with that of the government leader.
"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," Kogan said.
"I am no longer involved in any type of partisan engagement."
