'We will play a key role in football's future' - newly appointed regulator the new chairman
The Championship club's current difficulties represent a a "serious issue" and the football regulator is aiming to acquire authority to investigate clubs in comparable cases, the newly appointed chairman David Kogan has announced.
In a wide-ranging interview, the chairman, who was appointed on Monday, showed understanding towards the club's followers.
Kogan met with four supporters' associations representing the South Yorkshire club recently.
The football club have been struggling on and off the field in 2025, with the club failing to pay players on time on multiple instances, including in the autumn.
"Clearly Sheffield Wednesday has been a significant problem for EFL and a major challenge for the sport," Kogan told.
"Sheffield Wednesday is one of the great brands for English football and in recent days we have met supporters' organizations.
"We're now looking to get powers... which will allow us to have Wednesday and comparable cases submitted for our review if they require examination and acted upon."
Wednesday's embattled owner Dejphon Chansiri indicated in the summer he would be prepared to relinquish control at Hillsborough, but he has been unable to finalize an agreement with prospective buyers.
Failure to pay player wages on time in March and May caused limitations by the English Football League (EFL) in summer, blocking the team from conducting any recruitment activities for the subsequent signing windows, although those limitations were removed in August.
The regulator explained: "Our role exists to serve the Owls followers, Bury or any football club where supporters are loyal to a community organization that has been part of their lives in numerous instances.
"I fully appreciate the club's situation, as I do for all the clubs that in modern times have encountered failure, or been close to going to the wall, for reasons that have nothing to do with the fans themselves."
Questioned about whether the authority might compel an proprietor to divest a club if they are deemed unsuitable, the regulator answered: "Should the inquiry concern 'would we intervene in the final instance?', the answer is once we gather the evidence and understand the situation, we will."
But the regulator clarified that forcing owners to sell clubs would be treated as a "last resort" and the authority would rather to work with them.
"Our least desirable course of action is commence engagement with an individual club, an particular chairman, without having the opportunity to collaborate with that proprietor to address the problems affecting the organization and the owner's facing," the chairman stated.
"However, realistically, when you review the record of the game, over the last 20 or 30 years there have been particular chairmen, few in number, but certain individuals who have acted carelessly in the way which they've been managing their organizations and finally don't wish to take responsibility for the future."
Owls fans have been protesting against the team's chairman this season
Kogan met with delegates from multiple organizations to explain the responsibilities of the oversight body this week and stated it constituted a "forward-thinking discussion" with a "substantial involvement" from the lower divisions to the top flight.
"This position carries substantial significance, because if we get it wrong, if the world of football gets it wrong, the significant advances achieved might evaporate rapidly," the chairman stated.
"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 come into football for the recent generations, because there are no assurances 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 challenges and obviously, of the next two or three years."
Elite division representatives objected to the creation of a regulator because of concerns about detrimental effects on the top-flight's competitiveness, but the chairman responded: "I fully support the prosperity and expansion as an financial organization of the Premier League.
"I of all people understand the concern of undermining the top flight as an elite competition of England. But at the same time, if you consult with top flight officials after today's meeting, they would have had a substantial amount of confidence -and, actually, they have been advising us privately they have a high level of reassurance."
The chairman continues to confront a "full inquiry" by the official appointments authority after he disclosed making donations to the opposition group in the past.
The 68-year-old contributed funds to government minister Lisa Nandy's leadership campaign, along with that of the now Prime Minister Sir Keir Starmer.
"I've been completely open about my former ideological connection [with Labour], and that party membership ceased the day the parliamentary committee confirmed my selection," the chairman stated.
"I am presently disconnected from any form of political activity."
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