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The Championship club's current difficulties represent a a "significant problem" and the new football authority is seeking powers to examine team situations in similar circumstances, the recently named head the regulator has announced.

In a wide-ranging interview, the chairman, who was named to the position this week, voiced concern towards the club's followers.

The regulator engaged with four fan organizations representing the football team this week.

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

"Evidently Wednesday represents a major concern for the league and a significant problem for football," the chairman stated.

"Wednesday stands as one of the iconic names for football in England and recently we have met supporters' organizations.

"We're now looking to get powers... which will allow us to have Wednesday and comparable cases brought to our attention if they require examination and dealt with."

Financial Struggles and Leadership Concerns

Wednesday's embattled owner the current owner indicated in the summer he would be willing to sell up at the stadium, but he has been unable to finalize an agreement with potential new owners.

Missed wage deadlines on time in earlier this year caused limitations by the English Football League (EFL) in June, stopping Wednesday from completing any recruitment activities for the next three transfer windows, although that restriction was lifted in the end of the transfer window.

Official's Viewpoint

The regulator explained: "The position was created for the Owls followers, Bury or any football club where fans are dedicated to a community organization that has been part of their lives in many cases.

"I fully appreciate Sheffield Wednesday, as I do for each organization that in modern times have encountered failure, or nearly ceased operations, for reasons that have nothing to do with the fans themselves."

Inquired if the authority might compel an proprietor to divest a club if they are deemed unsuitable, the chairman responded: "If your question is 'would we intervene in the final instance?', the response would be once we assemble the facts and understand the situation, we will."

But Kogan stressed that compelling proprietors to divest clubs would be viewed as the ultimate measure and the regulator would prefer to collaborate with owners.

"The final option we would consider is start getting involved with an particular organization, an individual owner, without being in a position to cooperate with that owner to try and resolve the challenges confronting the team and the proprietor's dealing with," the chairman stated.

"However, realistically, 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 approach they have taken toward their clubs and ultimately decline to assume obligation for the long-term prospects."

'Mistakes could erase significant advances'

Kogan met with delegates from multiple organizations to detail the scope of the oversight body this week and insisted it was a "proactive meeting" with a "substantial involvement" from the lower divisions to the top flight.

"The role holds considerable importance, because should mistakes occur, if the world of football gets it wrong, the significant advances achieved might evaporate incredibly quickly," the chairman stated.

"This represents everyone's worst fear in the terms of English football is a huge success story - we've got to keep it going.

"There's an enormous amount of money coming into football and has come into football for the last 20 or 25 years, because there are no assurances it will persist in entering the game, which is part of the rationale behind I think we have to maintain a focused outlook on potential dangers and naturally, 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 Premier League's sporting equality, but the chairman responded: "I fully support the achievement and development as an economic entity of the elite league.

"As someone who appreciates the apprehension regarding damaging the top flight as an elite competition of this country. But concurrently, if you engage with division representatives after today's meeting, they would have had a high level of reassurance -and, indeed, they have been telling us in private they have a high level of reassurance."

Political Connections

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

The official provided financial support for 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 past party membership [with Labour], and that political affiliation came to an end the day the parliamentary committee confirmed my selection," the regulator explained.

"I currently have no participation in any form of political activity."