'We are going to be a part of football's future' - football oversight chief David Kogan
The Championship club's current difficulties constitute a "serious issue" and the independent regulator is aiming to acquire authority to investigate clubs in similar circumstances, the newly appointed chairman the official has declared.
Through a comprehensive talk, Kogan, who was appointed on Monday, expressed "sympathy" towards supporters of the Owls.
The chairman convened with four supporter groups representing the South Yorkshire club recently.
The football club have been experiencing difficulties in multiple areas in 2025, with the club delaying salary disbursements on multiple instances, including in last month.
"Obviously the club has become a significant problem for EFL and a significant problem for football," the chairman stated.
"Wednesday stands as one of the great brands for English football and in recent days we have met Sheffield Wednesday supporters' groups.
"We're now looking to get powers... which will allow us to have Sheffield Wednesday - and other clubs referred to us if they warrant scrutiny and dealt with."
Financial Struggles and Proprietorship Status
Wednesday's embattled owner the Thai businessman indicated in the summer he would be open to selling the club at Hillsborough, but he has been unable to finalize an agreement with prospective buyers.
Delayed salary payments on time in earlier this year resulted in restrictions being imposed by the football authorities in mid-year, preventing the club from carrying out any recruitment activities for the subsequent signing windows, although those limitations were removed in late summer.
Authority's Position
The regulator explained: "The position was created for the Owls followers, other clubs in similar situations where fans are dedicated to a regional establishment that has existed throughout their lifetimes in numerous instances.
"I completely understand the team's plight, as I do for every team that over recent decades have faced collapse, or approached financial ruin, for reasons that have nothing to do with the fans themselves."
When asked if the regulator could force an chairman to relinquish a club if they are considered unfit, Kogan said: "Should the inquiry concern 'would we intervene in the final instance?', the reply is once we assemble the facts and comprehend the circumstances, we will."
But Kogan stressed that compelling proprietors to divest clubs would be considered the final option and the authority would rather to cooperate with proprietors.
"The last thing what we want to do is start getting involved with an particular organization, an particular chairman, without being able to work with that owner to try and resolve the problems affecting the organization and the owner's facing," the regulator explained.
"However, realistically, when you review the record of football, over the last 20 or 30 years there have been certain proprietors, a small minority, but certain individuals who have acted carelessly in the manner they have operated their clubs and ultimately refuse to accept accountability for the future."
Owls fans have been protesting against the team's chairman this season
'If we get it wrong, extraordinary progress vanishes'
The regulator engaged officials from numerous teams to lay out the remit of the regulator on Wednesday and maintained it represented 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 extraordinary progress that's been made might evaporate incredibly quickly," Kogan said.
"And that's what nobody wants in the context of the English game is a substantial accomplishment - we need to continue the progress.
"Substantial financial resources flowing into the game and has been invested for the last 20 or 25 years, because there are no assurances it will keep flowing into the sport, which is among the factors explaining I think we have to adopt a precise perspective on risk and of course, of the next two or three years."
Elite Division Worries
The Premier League opposed the establishment of an oversight body because of concerns about detrimental effects on the top-flight's competitiveness, but the chairman responded: "I completely endorse the success and growth as an economic entity of the elite league.
"I of all people understand the worry about compromising the Premier League as a premium product of England. But at the same time, if you consult with top flight officials after this week's discussion, they would have had a significant degree of comfort -and, indeed, they have been telling us in private they have a considerable comfort."
Partisan Associations
The regulator remains subject to a "thorough examination" by the public appointments commissioner after he acknowledged providing funds to the Labour Party in the past.
The chairman donated money to Culture Secretary the politician's campaign, along with that of the current Prime Minister.
"I have been entirely transparent regarding my former ideological connection [with Labour], and that political affiliation came to an end the day the select committee approved my appointment," the chairman stated.
"I am no longer involved in any sort of politics."
