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The Championship club's ongoing struggles are seen as a "major concern" and the football regulator is looking to gain the ability to investigate clubs in comparable cases, the recently named head David Kogan has announced.

In a wide-ranging interview, Kogan, who was appointed on Monday, showed understanding towards supporters of the Owls.

The regulator engaged with four fan organizations associated with the football team recently.

The football club have been facing challenges both on and off the pitch in 2025, with the club missing wage payments on multiple instances, including in September.

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

"Wednesday stands as one of the great brands for the English game and recently we have met Sheffield Wednesday supporters' groups.

"We are seeking authority... which will allow us to have the club and similar situations referred to us if they warrant scrutiny and acted upon."

Financial Struggles and Ownership Situation

Wednesday's embattled owner Dejphon Chansiri suggested earlier this year he would be willing to sell up at Hillsborough, but he has been unable to finalize an agreement with interested parties.

Missed wage deadlines on time in spring months led to sanctions by the English Football League (EFL) in June, blocking the team from conducting any transfers or loans for the subsequent signing windows, although those limitations were removed in late summer.

Authority's Position

The chairman stated: "The position was created for the Owls followers, Bury or any football club where people are committed to a local institution that has existed throughout their lifetimes in multiple situations.

"I fully appreciate the team's plight, as I do for every team that in modern times have encountered failure, or approached financial ruin, for factors unrelated to the followers."

When asked if the regulator could force an owner to sell a club if they are judged inappropriate, the chairman responded: "If your question is 'would we intervene in the final instance?', the answer is once we gather the evidence and comprehend the circumstances, we will."

But the regulator clarified that forcing owners to sell clubs would be viewed as the ultimate measure and the authority would rather to cooperate with proprietors.

"The final option we would consider is begin intervening in an individual club, an particular chairman, 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.

"But the truth is, when you review the record of football, over the recent generations there have been some owners, not many, but certain individuals who have acted carelessly in the way which they've been managing their clubs and ultimately decline to assume obligation for the coming years."

'If we get it wrong, extraordinary progress vanishes'

Kogan met with representatives from 110 clubs to detail the scope of the authority recently 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 if errors are made, if the sport makes errors, the remarkable development accomplished might evaporate swiftly," the regulator warned.

"And that's what nobody wants in the terms of English football is a substantial accomplishment - we must maintain momentum.

"There's an enormous amount of money entering the sport and has been channeled for the recent generations, because there's no guarantee it will keep flowing into the sport, which is among the factors explaining I think we have to maintain a focused outlook on potential dangers and naturally, of the immediate future."

Elite Division Worries

Elite division representatives objected to the formation of an authority because of fears of a negative impact on the Premier League's sporting equality, but Kogan said: "I completely endorse the achievement and development as an economic entity of the elite league.

"Being fully aware of the concern of undermining the division as a high-quality offering of England. But concurrently, if you consult with top flight officials after the recent gathering, they would have had a substantial amount of confidence -and, in fact, they have been informing us confidentially they have a high level of reassurance."

Political Connections

The regulator remains subject to a "comprehensive investigation" by the official appointments authority after he disclosed making donations to the opposition group in 2020.

The 68-year-old donated money to Culture Secretary Lisa Nandy's leadership campaign, along with that of the now Prime Minister Sir Keir Starmer.

"I have been entirely transparent regarding my previous political affiliation [with Labour], and that political affiliation came to an end the day the official body endorsed my nomination," Kogan said.

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