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The Championship club's ongoing struggles constitute a "serious issue" and the football regulator is aiming to acquire authority to examine team situations in similar circumstances, the newly appointed chairman the regulator has announced.

In a wide-ranging interview, Kogan, who was named to the position this week, voiced concern towards supporters of the Owls.

Kogan met with four supporter groups representing the Championship side in recent days.

The football club have been struggling on and off the field in 2025, with the club delaying salary disbursements on five separate occasions, including in last month.

"Evidently Wednesday represents a serious issue for football authorities and a significant problem for football," Kogan told.

"Sheffield Wednesday is one of the iconic names for English football and this week we have met Sheffield Wednesday supporters' groups.

"We're now looking to get powers... which will enable us to take Wednesday and comparable cases referred to us if they require examination and dealt with."

Economic Challenges and Ownership Situation

Wednesday's embattled owner the Thai businessman stated during the off-season he would be prepared to relinquish control at their home ground, but he has not been able to secure a deal with prospective buyers.

Delayed salary payments on time in earlier this year resulted in restrictions being imposed by the league officials in summer, preventing the club from carrying out any player acquisitions for the next three transfer windows, although that restriction was lifted in late summer.

Official's Viewpoint

The chairman stated: "The job [of the regulator] is there for the supporters of Wednesday, Bury or any football club where people are committed to a community organization that has existed throughout their lifetimes in multiple situations.

"I have absolute sympathy for the club's situation, as I do for every team that in modern times have encountered failure, or been close to going to the wall, for factors unrelated to the followers."

When asked if the authority might compel an owner to sell a club if they are considered unfit, the chairman responded: "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 the chairman emphasized that compelling proprietors to divest clubs would be considered the final option and the authority would rather to work with them.

"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 owner to try and resolve the issues that the club's facing and the owner's facing," the chairman stated.

"However, realistically, when you examine the past of the sport, over the past few decades there have been certain proprietors, a small minority, but some who have been irresponsible in the way which they've been managing their clubs and ultimately refuse to accept accountability for the long-term prospects."

'If we get it wrong, extraordinary progress vanishes'

The chairman convened with officials from numerous teams to detail the scope of the authority recently and stated it constituted a "forward-thinking discussion" with a "significant participation" from the grassroots to elite level.

"The role holds considerable importance, because if errors are made, if the sport makes errors, the significant advances achieved necessary will vanish incredibly quickly," the regulator warned.

"And that's what nobody wants in the terms of English football is a huge success story - we need to continue the progress.

"There's an enormous amount of money flowing into the game and has been channeled for the past two decades, 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 potential dangers and naturally, of the next two or three years."

Elite Division Worries

The Premier League opposed the establishment of an oversight body because of apprehensions regarding adverse consequences on the Premier League's sporting equality, but the chairman responded: "I completely endorse the success and growth as an financial organization of the Premier League.

"Being fully aware of the apprehension regarding damaging the division as a high-quality offering of this country. But simultaneously, if you consult with top flight officials after the recent gathering, they would have had a high level of reassurance -and, in fact, they have been advising us privately they have a considerable comfort."

Partisan Associations

Kogan is still facing a "full inquiry" by the official appointments authority after he revealed he contributed money to the opposition group in recent years.

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

"I've been completely open about my past party membership [with Labour], and that political affiliation came to an end the day the official body endorsed my nomination," Kogan said.

"I am no longer involved in any sort of politics."