'We will play a key role in football's future' - independent football regulator David Kogan
The Championship club's persistent issues constitute a "serious issue" and the new football authority is seeking powers to investigate clubs in similar circumstances, its new chair the regulator has announced.
In a wide-ranging interview, the chairman, who was appointed on Monday, voiced concern towards Wednesday's fanbase.
Kogan met with four supporters' associations connected to the Championship side this week.
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.
"Clearly Sheffield Wednesday has been a major concern for the league and a major challenge for the sport," the regulator explained.
"Sheffield Wednesday is one of the iconic names for football in England and in recent days we have met supporters' organizations.
"Our aim is to acquire the ability... which will permit us to bring Wednesday and comparable cases brought to our attention if they warrant scrutiny and dealt with."
Financial Struggles and Proprietorship Status
The team's struggling chairman Dejphon Chansiri suggested earlier this year he would be willing to sell up at Hillsborough, but he has been unable to finalize an agreement with interested parties.
Missed wage deadlines on time in March and May resulted in restrictions being imposed by the English Football League (EFL) in summer, stopping Wednesday from completing any transfers or loans for the subsequent signing windows, although that restriction was lifted in the end of the transfer window.
Authority's Position
The regulator explained: "Our role exists to serve the fans of Sheffield Wednesday, teams facing challenges where people are committed to a regional establishment that has been part of their lives in many cases.
"I completely understand the club's situation, as I do for all the clubs that in modern times have encountered failure, or approached financial ruin, for causes separate from the followers."
When asked if the oversight body could require an owner to sell a club if they are deemed unsuitable, the regulator answered: "If your question is 'would we intervene in the final instance?', the response would be once we gather the evidence and comprehend the circumstances, we will."
But the chairman emphasized that forcing owners to sell clubs would be considered the final option and the authority would rather to cooperate with proprietors.
"Our least desirable course of action is start getting involved with an specific team, an specific proprietor, without being in a position to cooperate with that owner to try and resolve the issues that the club's facing and the chairman's encountering," the chairman stated.
"But the truth is, when you examine the past of football, over the past few decades there have been certain proprietors, not many, but particular people who have shown negligence in the approach they have taken toward their teams and eventually decline to assume obligation for the long-term prospects."
Wednesday followers have been protesting against the current proprietor during the current campaign
'If we get it wrong, extraordinary progress vanishes'
The chairman convened with delegates from multiple organizations to detail the scope of the regulator on Wednesday and maintained it represented a "forward-thinking discussion" with a "high level of engagement" 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 world of football gets it wrong, the extraordinary progress that's been made could disappear swiftly," the regulator warned.
"This represents everyone's worst fear in the context of the English game is a substantial accomplishment - we've got to keep it going.
"There's an enormous amount of money entering the sport and has been invested for the recent generations, because there's no guarantee 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 risk and of course, of the next two or three years."
Elite Division Worries
Elite division representatives objected to the creation of a regulator because of concerns about detrimental effects on the elite division's competitive balance, but Kogan said: "I completely endorse the achievement and development as an economic entity of the Premier League.
"As someone who appreciates the apprehension regarding damaging the Premier League as a premium product of England. But concurrently, if you talk to the Premier League after this week's discussion, they would have had a substantial amount of confidence -and, in fact, they have been informing us confidentially they have a significant confidence."
Partisan Associations
Kogan is still facing a "comprehensive investigation" by the public appointments commissioner after he revealed he contributed money to the Labour Party in 2020.
The chairman donated money to Secretary of State for Culture, Media and Sport Lisa Nandy's leadership campaign, along with that of the government leader.
"I have been entirely transparent regarding my previous political affiliation [with Labour], and that party membership ceased the day the parliamentary committee confirmed my selection," the chairman stated.
"I am no longer involved in any sort of politics."
