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Sheffield Wednesday's persistent issues constitute a "serious issue" and the independent regulator is aiming to acquire authority to investigate clubs in comparable cases, the newly appointed chairman David Kogan has declared.

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

The chairman convened with four fan organizations connected to the South Yorkshire club this week.

The football club have been struggling on and off the field in 2025, with the club missing wage payments on several different times, including in last month.

"Evidently Wednesday represents a major concern for the league and a major challenge for the sport," Kogan told.

"Wednesday stands as one of the great brands for English football and recently we have met fan representatives.

"We're now looking to get powers... which will permit us to bring the club and similar situations brought to our attention if they require examination and dealt with."

Economic Challenges and Leadership Concerns

Wednesday's embattled owner the Thai businessman suggested earlier this year he would be prepared to relinquish control at their home ground, but he has not been able to secure a deal with potential new owners.

Failure to pay player wages on time in earlier this year caused limitations by the football authorities in June, preventing the club from carrying out any transfers or loans for the next three transfer windows, although those limitations were removed in the end of the transfer window.

Official's Viewpoint

The chairman stated: "The job [of the regulator] is there for the Owls followers, other clubs in similar situations where people are committed to a regional establishment that has been part of their lives in numerous instances.

"I fully appreciate the team's plight, as I do for every team that in modern times have encountered failure, or been close to going to the wall, for reasons that have nothing to do with the supporters."

Questioned about whether the regulator could force an owner to sell a club if they are judged inappropriate, Kogan said: "If your question is 'would we intervene in the final instance?', the response would be once we assemble the facts and know what's going on, we will."

But Kogan stressed that requiring chairmen to relinquish clubs would be viewed as the ultimate measure and the oversight body would choose to work with them.

"Our least desirable course of action is start getting involved with an particular organization, an individual owner, without having the opportunity to collaborate with that chairman to fix the issues that the club's facing and the owner's facing," the regulator explained.

"However, realistically, when you review the record of the sport, over the last 20 or 30 years there have been particular chairmen, not many, but certain individuals who have acted carelessly in the approach they have taken toward their teams and eventually don't wish to take responsibility for the long-term prospects."

'If we get it wrong, extraordinary progress vanishes'

The regulator engaged officials from numerous teams to lay out the remit of the regulator on Wednesday and insisted it was a "proactive meeting" with a "significant participation" 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 football community fails, the remarkable development accomplished could disappear incredibly quickly," the regulator warned.

"Such an outcome is universally undesirable in the context of the English game is a huge success story - we must maintain momentum.

"There's an enormous amount of money flowing into the game and has been channeled for the past two decades, because there's no guarantee it will persist in entering the game, which is part of the rationale behind 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 fears of a negative impact on the top-flight's competitiveness, but Kogan said: "I'm absolutely committed to the success and growth as an economic entity of the Premier League.

"I of all people understand the apprehension regarding damaging the Premier League as a premium product of the nation. But simultaneously, if you engage with division representatives after today's meeting, they would have had a substantial amount of confidence -and, indeed, they have been telling us in private they have a high level of reassurance."

Partisan Associations

The chairman continues to confront a "comprehensive investigation" by the Commissioner for Public Appointments after he disclosed making donations to the Labour Party in the past.

The chairman contributed funds to Culture Secretary the politician's 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 select committee approved my appointment," the chairman stated.

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