'We will play a key role in football's future' - independent football regulator David Kogan
The team's ongoing struggles represent a a "serious issue" and the new football authority is seeking powers to investigate clubs in similar circumstances, the recently named head the official has declared.
During an extensive discussion, Kogan, who was appointed on Monday, expressed "sympathy" towards supporters of the Owls.
The regulator engaged with four supporter groups representing the football team in recent days.
The team have been facing challenges both on and off the pitch in 2025, with the club delaying salary disbursements on multiple instances, including in the autumn.
"Evidently Wednesday represents a serious issue for football authorities and a substantial concern for English football," 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 allow us to have Sheffield Wednesday - and other clubs referred to us if they require examination and acted upon."
Financial Struggles and Proprietorship Status
The team's struggling chairman Dejphon Chansiri indicated in the summer he would be open to selling the club at Hillsborough, but he has been unable to finalize an agreement with interested parties.
Delayed salary payments on time in spring months led to sanctions by the English Football League (EFL) in mid-year, stopping Wednesday from completing any recruitment activities for the next three transfer windows, although that restriction was lifted in late summer.
Regulator's Perspective
The regulator explained: "Our role exists to serve the supporters of Wednesday, other clubs in similar situations where supporters are loyal to a local institution that has existed throughout their lifetimes in many cases.
"I completely understand the team's plight, as I do for every team that since 1992 have gone to the wall, or nearly ceased operations, for factors unrelated to the fans themselves."
When asked if the regulator could force an chairman to relinquish a club if they are deemed unsuitable, the chairman responded: "Should the inquiry concern 'would we intervene in the final instance?', the answer is once we assemble the facts and comprehend the circumstances, we will."
But the chairman emphasized that forcing owners to sell clubs would be considered the final option and the regulator would prefer to work with them.
"The final option we would consider is start getting involved with an individual club, an individual owner, without being able to work with that owner to try and resolve the problems affecting the organization and the owner's facing," the chairman stated.
"However, realistically, when you look back over the history of football, over the past few decades there have been some owners, not many, 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."
Sheffield Wednesday supporters have been voicing opposition to the current proprietor this season
'Mistakes could erase significant advances'
Kogan met with delegates from multiple organizations to detail the scope of the oversight body this week and insisted it was a "progressive gathering" with a "significant participation" from the lower divisions to the top flight.
"This position carries substantial significance, because if we get it wrong, if the football community fails, the remarkable development accomplished necessary will vanish incredibly quickly," the regulator warned.
"This represents everyone's worst fear in the realm of domestic football is a major achievement - we've got to keep it going.
"Substantial financial resources flowing into the game and has come into football for the past two decades, because there's no guarantee it will continue to come into football, which is part of the rationale behind I think we have to take a really clear view on risk and of course, of the immediate future."
Top Flight Apprehensions
Elite division representatives objected to the establishment of an oversight body because of fears of a negative impact on the elite division's competitive balance, but Kogan said: "I fully support the prosperity and expansion as an financial organization of the elite league.
"I of all people understand the apprehension regarding damaging the top flight as an elite competition of this country. But concurrently, if you engage with division representatives after today's meeting, they would have had a high level of reassurance -and, actually, they have been informing us confidentially they have a considerable comfort."
Political Connections
The chairman continues to confront a "comprehensive investigation" by the Commissioner for Public Appointments after he acknowledged providing funds to the political party in 2020.
The 68-year-old donated money to government minister the politician's campaign, along with that of the government leader.
"I have been entirely transparent regarding my past party membership [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 form of political activity."
