'We will play a key role in football's future' - newly appointed regulator David Kogan
The Championship club's persistent issues represent a a "significant problem" and the independent regulator is seeking powers to investigate clubs in similar circumstances, its new chair David Kogan has announced.
In a wide-ranging interview, the regulator, who was named to the position this week, voiced concern towards Wednesday's fanbase.
Kogan met with four supporters' associations associated with the South Yorkshire club in recent days.
The football club have been struggling on and off the field in 2025, with the club missing wage payments on several different times, including in the autumn.
"Evidently Wednesday represents a major concern for the league and a substantial concern for English football," the chairman stated.
"Wednesday stands as one of the iconic names for football in England and recently we have met fan representatives.
"We are seeking authority... which will enable us to take the club and similar situations brought to our attention if they need to be investigated and acted upon."
Monetary Issues and Proprietorship Status
The team's struggling chairman the Thai businessman suggested earlier this year he would be willing to sell up at Hillsborough, but he has not been able to secure a deal with potential new owners.
Failure to pay player wages on time in March and May resulted in restrictions being imposed by the English Football League (EFL) in summer, preventing the club from carrying out any player acquisitions for the subsequent signing windows, although the ban was rescinded in August.
Official's Viewpoint
The chairman stated: "The job [of the regulator] is there for the supporters of Wednesday, teams facing challenges where people are committed to a local institution that has existed throughout their lifetimes in many cases.
"I completely understand Sheffield Wednesday, as I do for all the clubs that in modern times have encountered failure, or approached financial ruin, for causes separate from the fans themselves."
Inquired if the authority might compel an proprietor to divest a club if they are judged inappropriate, the regulator answered: "If your question is 'would we intervene in the final instance?', the reply is once we gather the evidence and comprehend the circumstances, we will."
But Kogan stressed that requiring chairmen to relinquish clubs would be viewed as the ultimate measure and the regulator would prefer to work with them.
"The final option we would consider is begin intervening in an specific team, an individual owner, without being able to work with that proprietor to address the problems affecting the organization and the proprietor's dealing with," the regulator explained.
"In actuality, when you review the record of football, over the past few decades there have been certain proprietors, a small minority, but some who have been irresponsible in the approach they have taken toward their teams and eventually refuse to accept accountability for the long-term prospects."
Sheffield Wednesday supporters have been voicing opposition to owner Dejphon Chansiri in recent months
'If we get it wrong, extraordinary progress vanishes'
The regulator engaged officials from numerous teams to detail the scope of the regulator on Wednesday and insisted it was a "proactive meeting" with a "significant participation" from the lower divisions to the top flight.
"It's a job that's actually really important, because if errors are made, if the football community fails, the extraordinary progress that's been made necessary will vanish incredibly quickly," the chairman stated.
"Such an outcome is universally undesirable in the realm of domestic football is a huge success story - we need to continue the progress.
"Considerable investment entering the sport and has been channeled 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 maintain a focused outlook on potential dangers and naturally, of the next two or three years."
Premier League Concerns
Elite division representatives objected to the formation of an authority because of apprehensions regarding adverse consequences on the top-flight's competitiveness, but the chairman responded: "I completely endorse the prosperity and expansion as an economic entity of the Premier League.
"I of all people understand the concern of undermining the Premier League as a premium product of England. But simultaneously, if you engage with division representatives after this week's discussion, they would have had a high level of reassurance -and, in fact, they have been telling us in private they have a significant confidence."
Partisan Associations
Kogan is still facing a "full inquiry" by the public appointments commissioner after he disclosed making donations to the Labour Party in recent years.
The 68-year-old contributed funds to government minister the politician's campaign, along with that of the current Prime Minister.
"I have fully disclosed my former ideological connection [with Labour], and that ideological connection terminated the day the official body endorsed my nomination," the regulator explained.
"I currently have no participation in any type of partisan engagement."
