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The Championship club's persistent issues are seen as a "significant problem" and the independent regulator is seeking powers to investigate clubs in comparable cases, the newly appointed chairman David Kogan has announced.

In a wide-ranging interview, the regulator, who was recently selected, showed understanding towards Wednesday's fanbase.

Kogan met with four supporters' associations connected to the football team in recent days.

The football club have been facing challenges both on and off the pitch in 2025, with the club delaying salary disbursements on five separate occasions, including in September.

"Clearly Sheffield Wednesday has been a serious issue for football authorities and a substantial concern for English football," Kogan told.

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

"We are seeking authority... which will enable us to take Sheffield Wednesday - and other clubs brought to our attention if they require examination and dealt with."

Economic Challenges and Ownership Situation

Wednesday's embattled owner Dejphon Chansiri stated during the off-season he would be open to selling the club at the stadium, but he has failed to complete a sale with potential new owners.

Missed wage deadlines on time in spring months resulted in restrictions being imposed by the English Football League (EFL) in summer, blocking the team from conducting any player acquisitions for the subsequent signing windows, although that restriction was lifted in late summer.

Authority's Position

The regulator explained: "Our role exists to serve the fans of Sheffield Wednesday, other clubs in similar situations where fans are dedicated to a local institution that has existed throughout their lifetimes in numerous instances.

"I fully appreciate the club's situation, as I do for every team that in modern times have encountered failure, or approached financial ruin, for causes separate from the supporters."

When asked if the oversight body could require an chairman to relinquish a club if they are considered unfit, the regulator answered: "When asking whether 'would we intervene in the final instance?', the answer is once we assemble the facts and understand the situation, 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 particular organization, an particular chairman, without being able to work with that owner to try and resolve the challenges confronting the team and the proprietor's dealing with," Kogan said.

"In actuality, when you look back over the history of the game, over the last 20 or 30 years there have been some owners, a small minority, but some who have been irresponsible in the approach they have taken toward their clubs and ultimately refuse to accept accountability for the long-term prospects."

'Mistakes could erase significant advances'

The chairman convened with officials from numerous teams to explain the responsibilities of the oversight body this week and insisted it was a "forward-thinking discussion" with a "high level of engagement" from the grassroots to elite level.

"It's a job that's actually really important, because should mistakes occur, if the world of football gets it wrong, the extraordinary progress that's been made might evaporate incredibly quickly," the chairman stated.

"Such an outcome is universally undesirable in the context of the English game is a huge success story - we've got to keep it going.

"Considerable investment entering the sport and has been channeled for the recent generations, because there's no guarantee 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 challenges and obviously, of the immediate future."

Elite Division Worries

The Premier League opposed the creation of a regulator because of concerns about detrimental effects on the elite division's competitive balance, but the regulator stated: "I completely endorse the prosperity and expansion as an economic entity of the top division.

"Being fully aware of the worry about compromising the division as a high-quality offering of England. But at the same time, if you consult with top flight officials after this week's discussion, they would have had a substantial amount of confidence -and, indeed, they have been informing us confidentially they have a high level of reassurance."

Partisan Associations

The chairman continues to confront a "full inquiry" by the official appointments authority after he acknowledged providing funds to the Labour Party in recent years.

The chairman donated money 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 ideological connection terminated the day the select committee approved my appointment," the regulator explained.

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