'We are going to be a part of football's future' - independent football regulator David Kogan
The Championship club's ongoing struggles represent a a "serious issue" and the independent regulator is seeking powers to investigate clubs in comparable cases, the recently named head the regulator has stated.
In a wide-ranging interview, Kogan, who was appointed on Monday, voiced concern towards the club's followers.
Kogan met with four supporters' associations representing the football team this week.
The Championship side have been struggling on and off the field in 2025, with the club delaying salary disbursements on several different times, including in last month.
"Clearly Sheffield Wednesday has been a significant problem for EFL and a significant problem for football," the regulator explained.
"Wednesday stands as one of the great brands for the English game and this week we have met supporters' organizations.
"We are seeking authority... which will allow us to have Sheffield Wednesday - and other clubs brought to our attention if they warrant scrutiny and dealt with."
Wednesday's embattled owner the current owner suggested earlier this year he would be open to selling the club at Hillsborough, but he has failed to complete a sale with potential new owners.
Missed wage deadlines on time in earlier this year led to sanctions by the English Football League (EFL) in mid-year, blocking the team from conducting any recruitment activities for the following recruitment periods, although the ban was rescinded in late summer.
The regulator explained: "The job [of the regulator] is there for the Owls followers, Bury or any football club where supporters are loyal to a local institution that has been part of their lives in many cases.
"I completely understand the team's plight, as I do for all the clubs that in modern times have encountered failure, or been close to going to the wall, for factors unrelated to the followers."
Questioned about whether the oversight body could require an chairman to relinquish a club if they are judged inappropriate, the chairman responded: "Should the inquiry concern 'would we intervene in the final instance?', the answer is once we assemble the facts and understand the situation, we will."
But the regulator clarified that forcing owners to sell clubs would be considered the final option and the oversight body would choose to cooperate with proprietors.
"The final option we would consider is begin intervening in an specific team, an particular chairman, without having the opportunity to collaborate with that chairman to fix the problems affecting the organization and the owner's facing," the chairman stated.
"However, realistically, when you examine the past of football, over the last 20 or 30 years there have been certain proprietors, 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 coming years."
Wednesday followers have been demonstrating against the current proprietor during the current campaign
Kogan met with delegates from multiple organizations to explain the responsibilities of the oversight body this week and stated it constituted a "proactive meeting" with a "high level of engagement" from the National League to the Premier League.
"It's a job that's actually really important, because if errors are made, if the world of football gets it wrong, the extraordinary progress that's been made necessary will vanish incredibly quickly," the regulator warned.
"Such an outcome is universally undesirable in the terms of English football is a substantial accomplishment - we must maintain momentum.
"There's an enormous amount of money entering the sport and has been invested for the past two decades, because there's no guarantee it will keep flowing into the sport, which is one of the reasons why I think we have to take a really clear view on risk and of course, of the immediate future."
Elite division representatives objected to the establishment of an oversight body because of concerns about detrimental effects on the elite division's competitive balance, but the regulator stated: "I fully support the achievement and development as an financial organization of the elite league.
"As someone who appreciates the worry about compromising the Premier League as a premium product of England. But simultaneously, if you consult with top flight officials after today's meeting, they would have had a significant degree of comfort -and, actually, they have been advising us privately they have a considerable comfort."
The chairman continues to confront a "full inquiry" by the public appointments commissioner after he revealed he contributed money to the Labour Party in recent years.
The official donated money to Culture Secretary the minister's leadership bid, along with that of the now Prime Minister Sir Keir Starmer.
"I have been entirely transparent regarding my past party membership [with Labour], and that ideological connection terminated the day the parliamentary committee confirmed my selection," the chairman stated.
"I currently have no participation in any type of partisan engagement."
