'We are going to be a part of football's future' - independent football regulator David Kogan
The team's current difficulties are seen as a "serious issue" and the independent regulator is seeking powers to look into club affairs in similar circumstances, the newly appointed chairman the regulator has stated.
In a wide-ranging interview, the regulator, who was named to the position this week, showed understanding towards supporters of the Owls.
The chairman convened with four supporter groups connected to the South Yorkshire club recently.
The football club have been experiencing difficulties in multiple areas in 2025, with the club missing wage payments on multiple instances, including in the autumn.
"Clearly Sheffield Wednesday has been a major concern for the league and a significant problem for football," the regulator explained.
"The club represents one of the great brands for English football and in recent days we have met fan representatives.
"We're now looking to get powers... which will enable us to take Sheffield Wednesday - and other clubs brought to our attention if they require examination and addressed."
Economic Challenges and Leadership Concerns
The team's struggling chairman Dejphon Chansiri indicated in the summer he would be prepared to relinquish control at Hillsborough, but he has not been able to secure a deal with potential new owners.
Missed wage deadlines on time in earlier this year resulted in restrictions being imposed by the league officials in summer, blocking the team from conducting any player acquisitions for the following recruitment periods, although those limitations were removed in the end of the transfer window.
Authority's Position
Kogan said: "The job [of the regulator] is there for the Owls followers, teams facing challenges where people are committed to a community organization that has represented their community in many cases.
"I have absolute sympathy for Sheffield Wednesday, as I do for each organization that over recent decades have faced collapse, or been close to going to the wall, for reasons that have nothing to do with the followers."
Questioned about whether the regulator could force an proprietor to divest a club if they are considered unfit, Kogan said: "When asking whether 'would we intervene in the final instance?', the reply is once we assemble the facts and know what's going on, we will."
But Kogan stressed that compelling proprietors to divest clubs would be viewed as the ultimate measure and the authority would rather to collaborate with owners.
"Our least desirable course of action is commence engagement with an particular organization, an individual owner, without being able to work with that proprietor to address the issues that the club's facing and the proprietor's dealing with," the chairman stated.
"However, realistically, when you look back over the history of football, over the last 20 or 30 years there have been some owners, few in number, but some who have been irresponsible in the approach they have taken toward their organizations and finally decline to assume obligation for the long-term prospects."
Owls fans have been demonstrating against the current proprietor during the current campaign
'Errors may undo substantial development'
The chairman convened with representatives from 110 clubs to lay out the remit of the regulator on Wednesday and insisted it was a "forward-thinking discussion" with a "significant participation" from the lower divisions to the top flight.
"The role holds considerable importance, because if errors are made, if the football community fails, the significant advances achieved necessary will vanish incredibly quickly," the chairman stated.
"Such an outcome is universally undesirable in the realm of domestic football is a major achievement - we've got to keep it going.
"Considerable investment entering the sport and has been channeled for the recent generations, because there's no guarantee it will keep flowing into the sport, which is part of the rationale behind I think we have to maintain a focused outlook on challenges and obviously, of the coming seasons."
Top Flight Apprehensions
The Premier League opposed the formation of an authority because of apprehensions regarding adverse consequences on the Premier League's sporting equality, but the regulator stated: "I completely endorse the achievement and development as an economic entity of the elite league.
"I of all people understand the concern of undermining the top flight as an elite competition of the nation. But simultaneously, 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 considerable comfort."
Partisan Associations
Kogan is still facing a "comprehensive investigation" by the official appointments authority after he revealed he contributed money to the Labour Party in recent years.
The 68-year-old donated money to Secretary of State for Culture, Media and Sport the minister's leadership bid, along with that of the government leader.
"I've been completely open about my past party membership [with Labour], and that political affiliation came to an end the day the select committee approved my appointment," the chairman stated.
"I currently have no participation in any form of political activity."
