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The Championship club's persistent issues represent a a "significant problem" and the football regulator is looking to gain the ability to investigate clubs in such situations, the newly appointed chairman David Kogan has announced.

In a wide-ranging interview, the regulator, who was named to the position this week, expressed "sympathy" towards the club's followers.

The chairman convened with four supporter groups associated with the football team recently.

The team have been struggling on and off the field in 2025, with the club missing wage payments on five separate occasions, including in last month.

"Obviously the club has become a significant problem for EFL and a significant problem for football," Kogan told.

"The club represents one of the great brands for English football and recently we have met Sheffield Wednesday supporters' groups.

"Our aim is to acquire the ability... which will enable us to take Sheffield Wednesday - and other clubs brought to our attention if they require examination and dealt with."

Monetary Issues and Leadership Concerns

The club's controversial proprietor the current owner suggested earlier this year 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 March and May led to sanctions by the football authorities in June, stopping Wednesday from completing any transfers or loans for the following recruitment periods, although that restriction was lifted in August.

Authority's Position

The chairman stated: "The position was created for the supporters of Wednesday, Bury or any football club where people are committed to a community organization that has been part of their lives in many cases.

"I fully appreciate Sheffield Wednesday, as I do for every team that over recent decades have faced collapse, or approached financial ruin, for reasons that have nothing to do with the fans themselves."

When asked if the authority might compel an proprietor to divest a club if they are deemed unsuitable, Kogan said: "If your question is 'would we intervene in the final instance?', the answer is once we assemble the facts and comprehend the circumstances, we will."

But the chairman emphasized that requiring chairmen to relinquish clubs would be considered the final option and the regulator would prefer to work with them.

"The final option we would consider is start getting involved with an individual club, an specific proprietor, without being in a position to cooperate with that chairman to fix the problems affecting the organization and the chairman's encountering," the chairman stated.

"But the truth is, when you look back over the history of the game, over the past few decades there have been particular chairmen, few in number, but some who have been irresponsible in the manner they have operated their teams and eventually refuse to accept accountability for the coming years."

'If we get it wrong, extraordinary progress vanishes'

The chairman convened with representatives from 110 clubs to lay out the remit of the authority recently and insisted it was a "progressive gathering" with a "significant participation" from the National League to the Premier League.

"It's a job that's actually really important, because if errors are made, if the football community fails, the extraordinary progress that's been made necessary will vanish rapidly," the chairman stated.

"Such an outcome is universally undesirable in the context of the English game is a major achievement - we need to continue the progress.

"There's an enormous amount of money coming into football and has come into football for the past two decades, because there are no assurances it will keep flowing into the sport, which is one of the reasons why I think we have to take a really clear view on potential dangers and naturally, of the coming seasons."

Premier League Concerns

Top flight officials resisted the establishment of an oversight body because of concerns about detrimental effects on the top-flight's competitiveness, but the chairman responded: "I'm absolutely committed to the achievement and development as an commercial operation of the elite league.

"Being fully aware of the worry about compromising the top flight as an elite competition of England. But concurrently, if you talk to the Premier League after this week's discussion, they would have had a substantial amount of confidence -and, actually, they have been advising us privately they have a considerable comfort."

Ideological Links

Kogan is still facing a "comprehensive investigation" by the public appointments commissioner after he acknowledged providing funds to the political party in 2020.

The official contributed funds to Secretary of State for Culture, Media and Sport Lisa Nandy's leadership campaign, along with that of the now Prime Minister Sir Keir Starmer.

"I have been entirely transparent regarding my former ideological connection [with Labour], and that political affiliation came to an end the day the official body endorsed my nomination," the regulator explained.

"I am presently disconnected from any form of political activity."