'We are going to be a part of football's future' - football oversight chief David Kogan
The Championship club's persistent issues represent a a "major concern" and the new football authority is looking to gain the ability to look into club affairs in such situations, the recently named head the regulator has declared.
In a wide-ranging interview, Kogan, who was appointed on Monday, expressed "sympathy" towards the club's followers.
The regulator engaged with four supporters' associations connected to the football team in recent days.
The team have been facing challenges both on and off the pitch in 2025, with the club missing wage payments on several different times, including in September.
"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 historic institutions for English football and recently we have met supporters' organizations.
"Our aim is to acquire the ability... which will permit us to bring Sheffield Wednesday - and other clubs brought to our attention if they need to be investigated and dealt with."
Financial Struggles and Leadership Concerns
The team's struggling chairman Dejphon Chansiri suggested earlier this year he would be open to selling the club at Hillsborough, but he has been unable to finalize an agreement with potential new owners.
Failure to pay player wages on time in spring months led to sanctions by the football authorities in summer, stopping Wednesday from completing any player acquisitions for the subsequent signing windows, although the ban was rescinded in late summer.
Regulator's Perspective
Kogan said: "Our role exists to serve the supporters of Wednesday, Bury or any football club where people are committed to a community organization that has existed throughout their lifetimes in multiple situations.
"I fully appreciate the team's plight, as I do for all the clubs that since 1992 have gone to the wall, or nearly ceased operations, for causes separate from the fans themselves."
Inquired if the regulator could force an owner to sell a club if they are deemed unsuitable, the chairman responded: "If your question is 'would we intervene in the final instance?', the response would be once we assemble the facts and understand the situation, we will."
But the regulator clarified that compelling proprietors to divest clubs would be treated as a "last resort" and the oversight body would choose to collaborate with owners.
"Our least desirable course of action is begin intervening in an individual club, an specific proprietor, without having the opportunity to collaborate with that proprietor to address the challenges confronting the team and the owner's facing," the chairman stated.
"However, realistically, when you look back over the history of the game, over the recent generations there have been certain proprietors, not many, but particular people who have shown negligence in the manner they have operated their organizations and finally don't wish to take responsibility for the future."
Sheffield Wednesday supporters have been protesting against the team's chairman in recent months
'Mistakes could erase significant advances'
The chairman convened with delegates from multiple organizations to explain the responsibilities of the regulator on Wednesday and insisted it was a "progressive gathering" with a "substantial involvement" from the National League to the Premier League.
"This position carries substantial significance, because should mistakes occur, if the sport makes errors, the remarkable development accomplished could disappear rapidly," Kogan said.
"Such an outcome is universally undesirable in the terms of English football is a substantial accomplishment - we must maintain momentum.
"Substantial financial resources entering the sport and has been invested for the past two decades, because there's no guarantee it will persist in entering the game, which is among the factors explaining I think we have to take a really clear view on risk and of course, of the immediate future."
Premier League Concerns
The Premier League opposed the creation of a regulator because of fears of a negative impact on the top-flight's competitiveness, but the regulator stated: "I fully support the success and growth as an financial organization of the Premier League.
"Being fully aware of the concern of undermining the top flight as an elite competition of the nation. But simultaneously, if you engage with division representatives after the recent gathering, they would have had a substantial amount of confidence -and, indeed, they have been advising us privately they have a considerable comfort."
Partisan Associations
The regulator remains subject to a "comprehensive investigation" by the Commissioner for Public Appointments after he acknowledged providing funds to the Labour Party in the past.
The 68-year-old provided financial support for government minister 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 political affiliation came to an end the day the select committee approved my appointment," Kogan said.
"I am no longer involved in any sort of politics."
