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The Championship club's ongoing struggles constitute a "significant problem" and the new football authority is looking to gain the ability to investigate clubs in such situations, its new chair the regulator has announced.

During an extensive discussion, the chairman, who was named to the position this week, expressed "sympathy" towards Wednesday's fanbase.

The regulator engaged with four supporter groups connected to the football team in recent days.

The football club have been struggling on and off the field in 2025, with the club delaying salary disbursements on several different times, including in September.

"Clearly Sheffield Wednesday has been a significant problem for EFL and a significant problem for football," Kogan told.

"Wednesday stands as one of the great brands for the English game and recently we have met fan representatives.

"We are seeking authority... which will permit us to bring the club and similar situations referred to us if they require examination and dealt with."

Financial Struggles and Proprietorship Status

Wednesday's embattled owner the Thai businessman indicated in the summer he would be willing to sell up at Hillsborough, but he has failed to complete a sale with prospective buyers.

Failure to pay player wages on time in earlier this year caused limitations by the football authorities in summer, blocking the team from conducting any transfers or loans for the next three transfer windows, although the ban was rescinded in the end of the transfer window.

Regulator's Perspective

The regulator explained: "The job [of the regulator] is there for the fans of Sheffield Wednesday, other clubs in similar situations where supporters are loyal to a regional establishment that has existed throughout their lifetimes in multiple situations.

"I have absolute sympathy for the team's plight, as I do for all the clubs that since 1992 have gone to the wall, or been close to going to the wall, for causes separate from the followers."

Inquired if the authority might compel an chairman to relinquish a club if they are deemed unsuitable, the chairman responded: "When asking whether 'would we intervene in the final instance?', the response would be once we assemble the facts and know what's going on, we will."

But the regulator clarified that forcing owners to sell clubs would be viewed as the ultimate measure and the oversight body would choose to collaborate with owners.

"The final option we would consider is begin intervening in an specific team, an specific proprietor, without being in a position to cooperate with that chairman to fix the issues that the club's facing and the proprietor's dealing with," Kogan said.

"In actuality, when you review the record of football, over the last 20 or 30 years there have been certain proprietors, not many, but some who have been irresponsible in the approach they have taken toward their teams and eventually refuse to accept accountability for the future."

'Errors may undo substantial development'

Kogan met with delegates from multiple organizations to lay out the remit of the authority recently and insisted it was a "forward-thinking discussion" with a "substantial involvement" from the lower divisions to the top flight.

"This position carries substantial significance, because if we get it wrong, if the world of football gets it wrong, the extraordinary progress that's been made might evaporate swiftly," 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 flowing into the game and has been channeled for the recent generations, because there are no assurances it will keep flowing into the sport, which is one of the reasons why I think we have to adopt a precise perspective on risk and of course, of the coming seasons."

Top Flight Apprehensions

Top flight officials resisted the formation of an authority because of apprehensions regarding adverse consequences on the top-flight's competitiveness, but the regulator stated: "I completely endorse the success and growth as an economic entity of the elite league.

"I of all people understand the concern of undermining the Premier League as a premium product of England. But at the same time, if you engage with division representatives after this week's discussion, they would have had a significant degree of comfort -and, in fact, they have been informing us confidentially they have a considerable comfort."

Ideological Links

Kogan is still facing a "comprehensive investigation" by the Commissioner for Public Appointments after he acknowledged providing funds to the opposition group in recent years.

The chairman contributed funds to Culture Secretary the minister's leadership bid, along with that of the current Prime Minister.

"I have been entirely transparent regarding my past party membership [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 sort of politics."