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The Championship club's persistent issues constitute a "significant problem" and the football regulator is aiming to acquire authority to investigate clubs in comparable cases, the newly appointed chairman the regulator has announced.

Through a comprehensive talk, the regulator, who was recently selected, voiced concern towards supporters of the Owls.

Kogan met with four fan organizations associated with the Championship side recently.

The Championship side have been experiencing difficulties in multiple areas in 2025, with the club failing to pay players on time on five separate occasions, including in September.

"Obviously the club has become a significant problem for EFL and a substantial concern for English football," Kogan told.

"The club represents one of the iconic names for football in England and recently we have met Sheffield Wednesday supporters' groups.

"We're now looking to get powers... which will permit us to bring Sheffield Wednesday - and other clubs brought to our attention if they need to be investigated and acted upon."

Economic Challenges and Leadership Concerns

The club's controversial proprietor Dejphon Chansiri indicated in the summer he would be willing to sell up at Hillsborough, but he has been unable to finalize an agreement with potential new owners.

Delayed salary payments on time in March and May caused limitations by the English Football League (EFL) in mid-year, blocking the team from conducting any transfers or loans for the subsequent signing windows, although the ban was rescinded in the end of the transfer window.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 fans are dedicated to a community organization that has existed throughout their lifetimes in multiple situations.

"I completely understand the team's plight, as I do for every team that in modern times have encountered failure, or been close to going to the wall, for factors unrelated to the followers."

Inquired if the regulator could force an proprietor to divest a club if they are judged inappropriate, the chairman responded: "Should the inquiry concern 'would we intervene in the final instance?', the response would be once we gather the evidence and know what's going on, we will."

But the chairman emphasized that compelling proprietors to divest clubs would be considered the final option and the regulator would prefer to work with them.

"The last thing what we want to do is commence engagement with an individual club, an specific proprietor, without being able to work with that proprietor to address the problems affecting the organization and the owner's facing," the chairman stated.

"But the truth is, when you review the record of the game, over the past few decades there have been some owners, not many, but some who have been irresponsible in the way which they've been managing their organizations and finally decline to assume obligation for the long-term prospects."

'Errors may undo substantial development'

The chairman convened with officials from numerous teams to explain the responsibilities of the oversight body this week and maintained it represented a "proactive meeting" with a "high level of engagement" from the grassroots to elite level.

"The role holds considerable importance, because if errors are made, if the sport makes errors, the remarkable development accomplished could disappear rapidly," the regulator warned.

"Such an outcome is universally undesirable in the terms of English football is a huge success story - we must maintain momentum.

"There's an enormous amount of money flowing into the game and has been channeled for the last 20 or 25 years, because certainty is lacking 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 coming seasons."

Premier League Concerns

Elite division representatives objected to the establishment of an oversight body because of fears of a negative impact on the Premier League's sporting equality, but the chairman responded: "I completely endorse the success and growth as an economic entity of the elite league.

"As someone who appreciates the worry about compromising the division as a high-quality offering of England. But simultaneously, if you talk to the Premier League after today's meeting, they would have had a substantial amount of confidence -and, actually, they have been telling us in private they have a considerable comfort."

Political Connections

Kogan is still facing a "comprehensive investigation" by the public appointments commissioner after he disclosed making donations to the political party in 2020.

The 68-year-old provided financial support for government minister the politician's 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 political affiliation came to an end the day the select committee approved my appointment," the chairman stated.

"I am no longer involved in any type of partisan engagement."