'Our role is integral to football's future' - independent football regulator David Kogan
The Championship club's current difficulties are seen as a "major concern" and the football regulator is aiming to acquire authority to look into club affairs in such situations, the newly appointed chairman the official has announced.
In a wide-ranging interview, the regulator, who was named to the position this week, voiced concern towards supporters of the Owls.
The chairman convened with four supporter groups connected to the South Yorkshire club in recent days.
The team have been facing challenges both on and off the pitch in 2025, with the club missing wage payments on five separate occasions, including in last month.
"Evidently Wednesday represents a serious issue for football authorities and a major challenge for the sport," Kogan told.
"Sheffield Wednesday is one of the iconic names for football in England and in recent days we have met supporters' organizations.
"Our aim is to acquire the ability... which will permit us to bring Sheffield Wednesday - and other clubs brought to our attention if they require examination and acted upon."
Financial Struggles and Ownership Situation
The team's struggling chairman the current owner stated during the off-season he would be open to selling the club at the stadium, but he has not been able to secure a deal with interested parties.
Delayed salary payments on time in spring months resulted in restrictions being imposed by the football authorities in June, stopping Wednesday from completing any transfers or loans for the subsequent signing windows, although those limitations were removed in the end of the transfer window.
Authority's Position
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 community organization that has existed throughout their lifetimes in numerous instances.
"I fully appreciate the club's situation, as I do for all the clubs that in modern times have encountered failure, or approached financial ruin, for reasons that have nothing to do with the supporters."
When asked if the authority might compel an proprietor to divest a club if they are judged inappropriate, Kogan said: "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 Kogan stressed that compelling proprietors to divest clubs would be viewed as the ultimate measure and the authority would rather to collaborate with owners.
"The last thing what we want to do is commence engagement with an specific team, an specific proprietor, without being able to work with that proprietor to address the challenges confronting the team and the owner's facing," the chairman stated.
"In actuality, when you look back over the history of football, over the past few decades there have been some owners, not many, but some who have been irresponsible in the approach they have taken toward their teams and eventually decline to assume obligation for the long-term prospects."
Owls fans have been protesting against the current proprietor during the current campaign
'If we get it wrong, extraordinary progress vanishes'
The regulator engaged delegates from multiple organizations to detail the scope of the oversight body this week and stated it constituted a "progressive gathering" with a "substantial involvement" from the National League to the Premier League.
"This position carries substantial significance, because if errors are made, if the football community fails, the extraordinary progress that's been made could disappear swiftly," Kogan said.
"This represents everyone's worst fear in the terms of English football is a major achievement - we've got to keep it going.
"Substantial financial resources entering the sport and has been invested 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 take a really clear view on challenges and obviously, of the next two or three years."
Elite Division Worries
Elite division representatives objected to the creation of a regulator because of apprehensions regarding adverse consequences on the elite division's competitive balance, but Kogan said: "I fully support the achievement and development as an economic entity of the Premier League.
"As someone who appreciates the apprehension regarding damaging the top flight as an elite competition of England. But at the same time, if you engage with division representatives after the recent gathering, they would have had a substantial amount of confidence -and, indeed, they have been telling us in private they have a significant confidence."
Political Connections
The regulator remains subject to a "full inquiry" by the public appointments commissioner after he revealed he contributed money to the Labour Party in 2020.
The official provided financial support for Culture Secretary the politician's campaign, along with that of the government leader.
"I have been entirely transparent regarding my past party membership [with Labour], and that ideological connection terminated the day the parliamentary committee confirmed my selection," Kogan said.
"I currently have no participation in any form of political activity."
