'We will play a key role in football's future' - newly appointed regulator David Kogan
The team's ongoing struggles represent a a "serious issue" and the football regulator is looking to gain the ability to examine team situations in such situations, the recently named head the official has declared.
In a wide-ranging interview, the regulator, who was appointed on Monday, expressed "sympathy" towards Wednesday's fanbase.
Kogan met with four supporter groups associated with the football team this week.
The Championship side have been struggling on and off the field in 2025, with the club delaying salary disbursements on five separate occasions, including in last month.
"Obviously the club has become a serious issue for football authorities and a substantial concern for English football," the regulator explained.
"Sheffield Wednesday is one of the historic institutions for the English game and in recent days we have met fan representatives.
"Our aim is to acquire the ability... which will enable us to take the club and similar situations referred to us if they require examination and dealt with."
Economic Challenges and Proprietorship Status
The team's struggling chairman the current owner 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.
Delayed salary payments on time in earlier this year led to sanctions by the football authorities in summer, stopping Wednesday from completing any transfers or loans for the following recruitment periods, although the ban was rescinded in the end of the transfer window.
Regulator's Perspective
The chairman stated: "The job [of the regulator] is there for the fans of Sheffield Wednesday, teams facing challenges where fans are dedicated to a local institution that has represented their community in many cases.
"I have absolute sympathy for the club's situation, as I do for every team that since 1992 have gone to the wall, or nearly ceased operations, for causes separate from the fans themselves."
Questioned about whether 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 reply is once we collect the information and understand the situation, we will."
But the chairman emphasized that forcing owners to sell clubs would be considered the final option and the regulator would prefer to cooperate with proprietors.
"The final option we would consider is commence engagement with an particular organization, an individual owner, without being in a position to cooperate with that proprietor to address the issues that the club's facing and the proprietor's dealing with," the chairman stated.
"But the truth is, when you review the record of the game, over the past few decades there have been particular chairmen, a small minority, but certain individuals who have acted carelessly in the way which they've been managing their teams and eventually decline to assume obligation for the long-term prospects."
Owls fans have been demonstrating against the current proprietor in recent months
'If we get it wrong, extraordinary progress vanishes'
The chairman convened with representatives from 110 clubs to lay out the remit of the oversight body this week and insisted it was a "proactive meeting" with a "high level of engagement" from the National League to the Premier League.
"It's a job that's actually really important, because if we get it wrong, if the world of football gets it wrong, the significant advances achieved might evaporate incredibly quickly," the regulator warned.
"This represents everyone's worst fear 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 invested for the last 20 or 25 years, because certainty is lacking it will persist in entering the game, which is part of the rationale behind I think we have to maintain a focused outlook on risk and of course, of the next two or three years."
Premier League Concerns
The Premier League opposed the establishment of an oversight body because of apprehensions regarding adverse consequences on the top-flight's competitiveness, but Kogan said: "I completely endorse the success and growth as an commercial operation of the Premier League.
"As someone who appreciates the apprehension regarding damaging the division as a high-quality offering of the nation. But at the same time, if you talk to the Premier League after today's meeting, they would have had a significant degree of comfort -and, indeed, they have been advising us privately they have a significant confidence."
Political Connections
The regulator remains subject to a "full inquiry" by the official appointments authority after he revealed he contributed money to the political party in the past.
The 68-year-old contributed funds to government minister the minister's leadership bid, along with that of the now Prime Minister Sir Keir Starmer.
"I've been completely open about my previous political affiliation [with Labour], and that political affiliation came to an end the day the official body endorsed my nomination," the regulator explained.
"I currently have no participation in any form of political activity."
