'Our role is integral to football's future' - football oversight chief the regulator's chair
The Championship club's ongoing struggles are seen as a "significant problem" and the new football authority is looking to gain the ability to examine team situations in comparable cases, the newly appointed chairman David Kogan has announced.
In a wide-ranging interview, the chairman, who was recently selected, showed understanding towards supporters of the Owls.
The chairman convened with four supporters' associations representing the Championship side this week.
The team have been facing challenges both on and off the pitch in 2025, with the club delaying salary disbursements on five separate occasions, including in last month.
"Clearly Sheffield Wednesday has been a serious issue for football authorities and a significant problem for football," the regulator explained.
"Sheffield Wednesday is one of the historic institutions for English football and in recent days we have met fan representatives.
"Our aim is to acquire the ability... which will allow us to have Wednesday and comparable cases submitted for our review if they warrant scrutiny and acted upon."
Financial Struggles and Leadership Concerns
The team's struggling chairman Dejphon Chansiri stated during the off-season he would be prepared to relinquish control at their home ground, but he has been unable to finalize an agreement with prospective buyers.
Missed wage deadlines on time in March and May led to sanctions by the football authorities in summer, stopping Wednesday from completing any recruitment activities for the subsequent signing windows, although that restriction was lifted in August.
Regulator's Perspective
Kogan said: "The position was created for the Owls followers, other clubs in similar situations where fans are dedicated to a local institution that has been part of their lives in numerous instances.
"I completely understand the club's situation, as I do for each organization that over recent decades have faced collapse, or been close to going to the wall, for factors unrelated to the followers."
When asked if the authority might compel an owner to sell a club if they are considered unfit, the regulator answered: "Should the inquiry concern 'would we intervene in the final instance?', the reply is once we gather the evidence and understand the situation, we will."
But the chairman emphasized that forcing owners to sell clubs would be treated as a "last resort" and the authority would rather to collaborate with owners.
"The final option we would consider is start getting involved with an specific team, an individual owner, without being able to work with that chairman to fix the challenges confronting the team and the owner's facing," the regulator explained.
"In actuality, when you review the record of the game, over the past few decades there have been some owners, few in number, but some who have been irresponsible in the approach they have taken toward their organizations and finally don't wish to take responsibility for the coming years."
Owls fans have been voicing opposition to the current proprietor in recent months
'Mistakes could erase significant advances'
The chairman convened with officials from numerous teams to detail the scope of the regulator on Wednesday and maintained it represented a "progressive gathering" with a "significant participation" from the grassroots to elite level.
"The role holds considerable importance, because if we get it wrong, if the sport makes errors, the significant advances achieved might evaporate rapidly," the regulator warned.
"And that's what nobody wants in the realm of domestic football is a substantial accomplishment - we must maintain momentum.
"Considerable investment coming into football and has come into football for the past two decades, because there are no assurances it will continue to come into football, which is part of the rationale behind I think we have to maintain a focused outlook on potential dangers and naturally, of the next two or three years."
Premier League Concerns
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 success and growth as an economic entity of the Premier League.
"Being fully aware of the apprehension regarding damaging the Premier League as a premium product of the nation. But concurrently, if you consult with top flight officials after this week's discussion, they would have had a high level of reassurance -and, indeed, they have been telling us in private they have a significant confidence."
Partisan Associations
The regulator remains subject to a "full inquiry" by the official appointments authority after he disclosed making donations to the opposition group in recent years.
The official donated money to government minister 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 political affiliation came to an end the day the parliamentary committee confirmed my selection," the chairman stated.
"I am presently disconnected from any type of partisan engagement."