'We are going to be a part of football's future' - independent football regulator David Kogan
The Championship club's ongoing struggles constitute a "major concern" and the football regulator is looking to gain the ability to investigate clubs in comparable cases, the recently named head the official has stated.
During an extensive discussion, the chairman, who was recently selected, voiced concern towards Wednesday's fanbase.
Kogan met with four supporters' associations representing the South Yorkshire club recently.
The team have been struggling on and off the field in 2025, with the club failing to pay players on time on multiple instances, including in last month.
"Clearly Sheffield Wednesday has been a significant problem for EFL and a major challenge for the sport," Kogan told.
"Wednesday stands as one of the great brands for the English game and this week we have met Sheffield Wednesday supporters' groups.
"Our aim is to acquire the ability... which will enable us to take Wednesday and comparable cases brought to our attention if they need to be investigated and dealt with."
Monetary Issues and Proprietorship Status
Wednesday's embattled owner Dejphon Chansiri suggested earlier this year he would be open to selling the club at the stadium, but he has failed to complete a sale with interested parties.
Failure to pay player wages on time in March and May led to sanctions by the league officials in summer, stopping Wednesday from completing any player acquisitions for the subsequent signing windows, although the ban was rescinded in late summer.
Authority's Position
Kogan said: "The job [of the regulator] is there for the Owls followers, other clubs in similar situations where supporters are loyal to a local institution that has represented their community in multiple situations.
"I completely understand the club's situation, as I do for each organization that in modern times have encountered failure, or nearly ceased operations, for reasons that have nothing to do with the supporters."
Questioned about whether the regulator could force an chairman to relinquish a club if they are considered unfit, Kogan said: "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 chairman emphasized that compelling proprietors to divest clubs would be viewed as the ultimate measure and the oversight body would choose to collaborate with owners.
"The last thing what we want to do is start getting involved with an individual club, an particular chairman, without being able to work with that proprietor to address the challenges confronting the team and the chairman's encountering," the regulator explained.
"However, realistically, when you look back over the history of football, over the past few decades there have been particular chairmen, few in number, but some who have been irresponsible in the way which they've been managing their organizations and finally refuse to accept accountability for the long-term prospects."
Owls fans have been demonstrating against owner Dejphon Chansiri during the current campaign
'Errors may undo substantial development'
The regulator engaged officials from numerous teams to lay out the remit of the regulator on Wednesday and stated it constituted 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 we get it wrong, if the sport makes errors, the significant advances achieved could disappear swiftly," Kogan said.
"This represents everyone's worst fear in the context of the English game is a huge success story - we must maintain momentum.
"Considerable investment coming into football and has been channeled for the last 20 or 25 years, because there's no guarantee it will continue to come into football, which is one of the reasons why I think we have to take a really clear view on challenges and obviously, of the next two or three years."
Top Flight Apprehensions
Top flight officials resisted the formation of an authority because of fears of a negative impact on the Premier League's sporting equality, but the regulator stated: "I fully support the success and growth as an financial organization of the top division.
"As someone who appreciates the apprehension regarding damaging the Premier League as a premium product of the nation. But concurrently, if you engage with division representatives after today's meeting, 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 official appointments authority after he disclosed making donations to the political party in recent years.
The official provided financial support for Culture Secretary Lisa Nandy's leadership campaign, along with that of the now Prime Minister Sir Keir Starmer.
"I have been entirely transparent regarding my previous political affiliation [with Labour], and that ideological connection terminated the day the official body endorsed my nomination," Kogan said.
"I am presently disconnected from any sort of politics."
