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Sheffield Wednesday's ongoing struggles are seen as a "significant problem" and the football regulator is aiming to acquire authority to investigate clubs in comparable cases, the newly appointed chairman David Kogan has announced.

Through a comprehensive talk, Kogan, who was recently selected, expressed "sympathy" towards the club's followers.

Kogan met with four supporters' associations connected to the football team recently.

The Championship side have been facing challenges both on and off the pitch in 2025, with the club missing wage payments on several different times, including in the autumn.

"Obviously the club has become a serious issue for football authorities and a significant problem for football," Kogan told.

"The club represents one of the iconic names for the English game and in recent days we have met Sheffield Wednesday supporters' groups.

"Our aim is to acquire the ability... which will enable us to take Wednesday and comparable cases brought to our attention if they require examination and acted upon."

Financial Struggles and Leadership Concerns

Wednesday's embattled owner the Thai businessman stated during the off-season he would be prepared to relinquish control at the stadium, but he has not been able to secure a deal with potential new owners.

Missed wage deadlines on time in earlier this year resulted in restrictions being imposed by the league officials in mid-year, preventing the club from carrying out any player acquisitions for the following recruitment periods, although those limitations were removed in late summer.

Regulator's Perspective

Kogan said: "The position was created for the Owls followers, other clubs in similar situations where fans are dedicated to a community organization that has been part of their lives in multiple situations.

"I have absolute sympathy for Sheffield Wednesday, as I do for all the clubs that in modern times have encountered failure, or been close to going to the wall, for factors unrelated to the supporters."

When asked if the oversight body could require an owner to sell 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 assemble the facts and comprehend the circumstances, we will."

But Kogan stressed that compelling proprietors to divest clubs would be viewed as the ultimate measure and the oversight body would choose to cooperate with proprietors.

"The last thing what we want to do is commence engagement with an specific team, an specific proprietor, without being in a position to cooperate with that proprietor to address the problems affecting the organization and the proprietor's dealing with," Kogan said.

"But the truth is, when you look back over the history of the sport, over the recent generations there have been particular chairmen, few in number, but particular people who have shown negligence in the approach they have taken toward their organizations and finally decline to assume obligation for the coming years."

'If we get it wrong, extraordinary progress vanishes'

The chairman convened with representatives from 110 clubs to lay out the remit of the oversight body this week and stated it constituted a "progressive gathering" with a "significant participation" from the lower divisions to the top flight.

"The role holds considerable importance, because if we get it wrong, if the football community fails, the significant advances achieved might evaporate rapidly," the chairman stated.

"This represents everyone's worst fear in the realm of domestic football is a substantial accomplishment - we need to continue the progress.

"Considerable investment coming into football and has been invested 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 maintain a focused outlook on risk and of course, of the immediate future."

Premier League Concerns

The Premier League opposed the formation of an authority because of apprehensions regarding adverse consequences on the elite division's competitive balance, but Kogan said: "I completely endorse the prosperity and expansion as an financial organization of the Premier League.

"Being fully aware of the concern of undermining the top flight as an elite competition of England. 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 advising us privately they have a high level of reassurance."

Political Connections

The chairman continues to confront a "full inquiry" by the official appointments authority after he revealed he contributed money to the opposition group in 2020.

The official donated money to Culture Secretary the minister's leadership bid, along with that of the now Prime Minister Sir Keir Starmer.

"I have been entirely transparent regarding my past party membership [with Labour], and that political affiliation came to an end the day the select committee approved my appointment," the regulator explained.

"I currently have no participation in any sort of politics."