'We are going to be a part of football's future' - newly appointed regulator David Kogan
The Championship club's ongoing struggles constitute a "major concern" and the new football authority is aiming to acquire authority to investigate clubs in such situations, the newly appointed chairman David Kogan has announced.
During an extensive discussion, the regulator, who was recently selected, expressed "sympathy" towards supporters of the Owls.
Kogan met with four fan organizations associated with the South Yorkshire club in recent days.
The team have been struggling on and off the field in 2025, with the club failing to pay players on time on multiple instances, including in the autumn.
"Obviously the club has become a serious issue for football authorities and a substantial concern for English football," the regulator explained.
"The club represents one of the historic institutions for football in England and in recent days we have met Sheffield Wednesday supporters' groups.
"Our aim is to acquire the ability... which will allow us to have the club and similar situations submitted for our review if they need to be investigated and addressed."
Financial Struggles and Leadership Concerns
The club's controversial proprietor Dejphon Chansiri 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 prospective buyers.
Delayed salary payments on time in spring months resulted in restrictions being imposed by the English Football League (EFL) in mid-year, stopping Wednesday from completing any recruitment activities for the next three transfer windows, although those limitations were removed in August.
Official's Viewpoint
The regulator explained: "Our role exists to serve the supporters of Wednesday, teams facing challenges where fans are dedicated to a local institution that has represented their community in numerous instances.
"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 reasons that have nothing to do with the fans themselves."
When asked if the oversight body could require an chairman to relinquish a club if they are considered unfit, the regulator answered: "If your question is 'would we intervene in the final instance?', the answer is once we gather the evidence and know what's going on, we will."
But the regulator clarified that requiring chairmen to relinquish clubs would be viewed as the ultimate measure and the oversight body would choose to work with them.
"The final option we would consider is commence engagement with an specific team, an particular chairman, without having the opportunity to collaborate with that chairman to fix the challenges confronting the team and the proprietor's dealing with," the chairman stated.
"But the truth is, when you review the record of the game, over the last 20 or 30 years there have been certain proprietors, few in number, but particular people who have shown negligence in the way which they've been managing their clubs and ultimately decline to assume obligation for the long-term prospects."
Owls fans have been protesting against owner Dejphon Chansiri this season
'If we get it wrong, extraordinary progress vanishes'
The chairman convened with representatives from 110 clubs to explain the responsibilities of the authority recently and maintained it represented a "progressive gathering" with a "significant participation" 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 remarkable development accomplished could disappear rapidly," the regulator warned.
"And that's what nobody wants in the context of the English game is a major achievement - we've got to keep it going.
"Substantial financial resources entering the sport and has come into football for the recent generations, because certainty is lacking it will persist in entering the game, which is among the factors explaining I think we have to maintain a focused outlook on risk and of course, of the coming seasons."
Premier League Concerns
The Premier League opposed the establishment of an oversight body because of concerns about detrimental effects on the elite division's competitive balance, but the chairman responded: "I'm absolutely committed to the achievement and development as an economic entity of the Premier League.
"I of all people understand the concern of undermining the top flight as an elite competition of this country. But simultaneously, 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 advising us privately they have a high level of reassurance."
Partisan Associations
Kogan is still facing a "thorough examination" by the public appointments commissioner after he acknowledged providing funds to the opposition group in the past.
The 68-year-old provided financial support for Secretary of State for Culture, Media and Sport the politician's campaign, along with that of the now Prime Minister Sir Keir Starmer.
"I have been entirely transparent regarding my past party membership [with Labour], and that ideological connection terminated the day the select committee approved my appointment," Kogan said.
"I currently have no participation in any form of political activity."