'We are going to be a part of football's future' - independent football regulator David Kogan
The team's ongoing struggles constitute a "major concern" and the independent regulator is looking to gain the ability to examine team situations in comparable cases, the recently named head the official has announced.
In a wide-ranging interview, Kogan, who was named to the position this week, showed understanding towards Wednesday's fanbase.
The chairman convened with four fan organizations representing the Championship side this week.
The team have been struggling on and off the field in 2025, with the club missing wage payments on multiple instances, including in September.
"Evidently Wednesday represents a serious issue for football authorities and a significant problem for football," the regulator explained.
"The club represents one of the historic institutions for the English game and this week we have met supporters' organizations.
"Our aim is to acquire the ability... which will allow us to have the club and similar situations brought to our attention if they require examination and addressed."
Monetary Issues and Ownership Situation
Wednesday's embattled owner the Thai businessman suggested earlier this year he would be open to selling the club at Hillsborough, but he has not been able to secure a deal with potential new owners.
Delayed salary payments on time in spring months resulted in restrictions being imposed by the league officials in mid-year, blocking the team from conducting any recruitment activities for the subsequent signing windows, although the ban was rescinded in the end of the transfer window.
Authority's Position
The regulator explained: "Our role exists to serve the Owls followers, Bury or any football club where supporters are loyal to a community organization that has existed throughout their lifetimes in numerous instances.
"I have absolute sympathy for the team's plight, as I do for each organization that in modern times have encountered failure, or been close to going to the wall, for causes separate from the supporters."
Questioned about whether the oversight body could require an chairman to relinquish a club if they are considered unfit, the regulator answered: "Should the inquiry concern 'would we intervene in the final instance?', the response would be once we collect the information and understand the situation, we will."
But the regulator clarified that compelling proprietors to divest clubs would be treated as a "last resort" and the oversight body would choose to collaborate with owners.
"Our least desirable course of action is commence engagement with an individual club, an individual owner, without being able to work with that owner to try and resolve the problems affecting the organization and the proprietor's dealing with," the chairman stated.
"But the truth is, when you look back over the history of football, over the last 20 or 30 years there have been certain proprietors, not many, but some who have been irresponsible in the way which they've been managing their teams and eventually decline to assume obligation for the future."
Sheffield Wednesday supporters have been protesting against owner Dejphon Chansiri this season
'If we get it wrong, extraordinary progress vanishes'
The regulator engaged officials from numerous teams to detail the scope of the regulator on Wednesday and stated it constituted a "proactive meeting" with a "substantial involvement" from the lower divisions to the top flight.
"It's a job that's actually really important, because if we get it wrong, if the sport makes errors, the significant advances achieved could disappear incredibly quickly," Kogan said.
"And that's what nobody wants 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 past two decades, because there are no assurances it will keep flowing into the sport, which is part of the rationale behind I think we have to adopt a precise perspective on risk and of course, of the immediate future."
Premier League Concerns
Top flight officials resisted the creation of a regulator because of concerns about detrimental effects on the elite division's competitive balance, but Kogan said: "I completely endorse the achievement and development as an financial organization of the elite league.
"I of all people understand the concern of undermining the Premier League as a premium product of this country. But simultaneously, if you talk to the Premier League after this week's discussion, they would have had a high level of reassurance -and, actually, they have been advising us privately they have a high level of reassurance."
Ideological Links
The regulator remains subject to a "comprehensive investigation" by the Commissioner for Public Appointments after he revealed he contributed money to the political party in the past.
The 68-year-old donated money to government minister the minister's leadership bid, 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 party membership ceased the day the select committee approved my appointment," the chairman stated.
"I currently have no participation in any form of political activity."
