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Sheffield Wednesday's persistent issues constitute a "serious issue" and the football regulator is aiming to acquire authority to investigate clubs in similar circumstances, its new chair David Kogan has announced.

During an extensive discussion, the regulator, who was recently selected, expressed "sympathy" towards supporters of the Owls.

The regulator engaged with four supporters' associations representing the Championship side this week.

The team have been facing challenges both on and off the pitch in 2025, with the club failing to pay players on time on several different times, including in September.

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

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

"We are seeking authority... which will enable us to take the club and similar situations referred to us if they need to be investigated and acted upon."

Financial Struggles and Proprietorship Status

The club's controversial proprietor Dejphon Chansiri suggested earlier this year he would be willing to sell up at the stadium, but he has not been able to secure a deal with interested parties.

Delayed salary payments on time in earlier this year resulted in restrictions being imposed by the league officials in summer, stopping Wednesday from completing any transfers or loans for the subsequent signing windows, although those limitations were removed in August.

Official's Viewpoint

The regulator explained: "Our role exists to serve the Owls followers, Bury or any football club where people are committed to a community organization that has represented their community in multiple situations.

"I have absolute sympathy for the club's situation, as I do for each organization that over recent decades have faced collapse, or nearly ceased operations, for causes separate from the fans themselves."

Questioned about whether the oversight body could require an proprietor to divest a club if they are deemed unsuitable, the regulator answered: "Should the inquiry concern 'would we intervene in the final instance?', the answer is once we gather the evidence and comprehend the circumstances, we will."

But the chairman emphasized that requiring chairmen to relinquish clubs would be treated as a "last resort" and the oversight body would choose to cooperate with proprietors.

"The last thing what we want to do is begin intervening in an specific team, an specific proprietor, without being able to work with that chairman to fix the problems affecting the organization and the chairman's encountering," the chairman stated.

"But the truth is, when you review the record of the game, over the recent generations there have been certain proprietors, not many, but certain individuals who have acted carelessly in the approach they have taken toward their organizations and finally refuse to accept accountability for the long-term prospects."

'Errors may undo substantial development'

The regulator engaged officials from numerous teams to explain the responsibilities of the oversight body this week and stated it constituted a "proactive meeting" with a "high level of engagement" from the grassroots to elite level.

"This position carries substantial significance, because should mistakes occur, if the world of football gets it wrong, the extraordinary progress that's been made could disappear incredibly quickly," Kogan said.

"This represents everyone's worst fear in the realm of domestic football is a major achievement - we've got to keep it going.

"There's an enormous amount of money flowing into the game and has come into football for the last 20 or 25 years, because there are no assurances it will continue to come into football, which is one of the reasons why I think we have to adopt a precise perspective on risk and of course, of the immediate future."

Elite Division Worries

The Premier League opposed the establishment of an oversight body because of apprehensions regarding adverse consequences on the top-flight's competitiveness, but the chairman responded: "I fully support the success and growth as an financial organization of the top division.

"Being fully aware of the concern of undermining the division as a high-quality offering of this country. But simultaneously, if you engage with division representatives after today's meeting, they would have had a substantial amount of confidence -and, in fact, they have been telling us in private they have a significant confidence."

Political Connections

The chairman continues to confront a "thorough examination" by the public appointments commissioner after he revealed he contributed money to the political party in 2020.

The 68-year-old donated money to 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 fully disclosed my former ideological connection [with Labour], and that party membership ceased the day the official body endorsed my nomination," the chairman stated.

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