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The Championship club's ongoing struggles constitute a "serious issue" and the football regulator is looking to gain the ability to examine team situations in such situations, the newly appointed chairman David Kogan has declared.

Through a comprehensive talk, the chairman, who was named to the position this week, voiced concern towards Wednesday's fanbase.

The regulator engaged with four fan organizations representing the football team in recent days.

The Championship side have been struggling on and off the field in 2025, with the club failing to pay players on time on several different times, including in last month.

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

"Sheffield Wednesday is 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 submitted for our review if they warrant scrutiny and dealt with."

Financial Struggles and Ownership Situation

The team's struggling chairman the current owner indicated in the summer he would be open to selling the club at the stadium, but he has failed to complete a sale with interested parties.

Delayed salary payments on time in earlier this year caused limitations by the football authorities in summer, stopping Wednesday from completing any recruitment activities for the subsequent signing windows, although the ban was rescinded in late summer.

Authority's Position

The regulator explained: "Our role exists to serve the supporters of Wednesday, Bury or any football club where people are committed to a community organization that has represented their community in many cases.

"I fully appreciate the club's situation, as I do for each organization that in modern times have encountered failure, or been close to going to the wall, for reasons that have nothing to do with the followers."

Inquired if the oversight body could require 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 reply is once we gather the evidence and know what's going on, we will."

But the regulator clarified that compelling proprietors to divest clubs would be viewed as the ultimate measure and the authority would rather to collaborate with owners.

"The final option we would consider is start getting involved with an individual club, an individual owner, without being in a position to cooperate with that proprietor to address the challenges confronting the team and the proprietor's dealing with," Kogan said.

"But the truth is, when you look back over the history of football, over the last 20 or 30 years there have been particular chairmen, not many, but some who have been irresponsible in the manner they have operated their teams and eventually don't wish to take responsibility for the future."

'Mistakes could erase significant advances'

The regulator engaged delegates from multiple organizations to detail the scope of the regulator on Wednesday and insisted it was a "proactive meeting" with a "substantial involvement" from the grassroots to elite level.

"The role holds considerable importance, because if errors are made, if the football community fails, the remarkable development accomplished might evaporate rapidly," the chairman stated.

"Such an outcome is universally undesirable in the context of the English game is a major achievement - we need to continue the progress.

"Substantial financial resources coming into football and has been channeled for the recent generations, because there's no guarantee it will keep flowing into the sport, 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."

Top Flight Apprehensions

Top flight officials resisted the creation of a regulator because of apprehensions regarding adverse consequences on the top-flight's competitiveness, but Kogan said: "I fully support the achievement and development as an commercial operation of the elite league.

"Being fully aware of the concern of undermining the top flight as an elite competition of the nation. But at the same time, if you consult with top flight officials after this week's discussion, they would have had a high level of reassurance -and, in fact, they have been telling us in private they have a considerable comfort."

Political Connections

The regulator remains subject to a "thorough examination" by the public appointments commissioner after he acknowledged providing funds to the Labour Party in 2020.

The chairman provided financial support for Secretary of State for Culture, Media and Sport the minister's leadership bid, 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 ideological connection terminated the day the select committee approved my appointment," the chairman stated.

"I am presently disconnected from any sort of politics."