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Sheffield Wednesday's persistent issues constitute a "significant problem" and the independent regulator is looking to gain the ability to look into club affairs in comparable cases, its new chair the regulator has stated.

In a wide-ranging interview, the regulator, who was recently selected, showed understanding towards supporters of the Owls.

Kogan met with four supporter groups representing the Championship side recently.

The team have been facing challenges both on and off the pitch in 2025, with the club missing wage payments on five separate occasions, including in last month.

"Obviously the club has become a significant problem for EFL and a substantial concern for English football," the chairman stated.

"Wednesday stands as one of the historic institutions for English football and in recent days we have met supporters' organizations.

"We're now looking to get powers... which will enable us to take the club and similar situations submitted for our review if they warrant scrutiny and acted upon."

Economic Challenges and Proprietorship Status

Wednesday's embattled owner the Thai businessman stated during the off-season he would be open to selling the club at the stadium, but he has failed to complete a sale with potential new owners.

Missed wage deadlines on time in March and May led to sanctions by the league officials in summer, stopping Wednesday from completing any player acquisitions for the subsequent signing windows, although those limitations were removed in late summer.

Official's Viewpoint

The regulator explained: "Our role exists to serve the supporters of Wednesday, other clubs in similar situations where supporters are loyal to a local institution that has existed throughout their lifetimes in numerous instances.

"I have absolute sympathy for the team's plight, as I do for all the clubs that since 1992 have gone to the wall, or approached financial ruin, for reasons that have nothing to do with the fans themselves."

Inquired if the authority might compel an owner to sell a club if they are judged inappropriate, the chairman responded: "If your question is 'would we intervene in the final instance?', the response would be once we gather the evidence and understand the situation, we will."

But the regulator clarified that compelling proprietors to divest clubs would be considered the final option and the authority would rather to work with them.

"The final option we would consider is start getting involved with an specific team, an particular chairman, without having the opportunity to collaborate with that chairman to fix the problems affecting the organization and the owner's facing," the chairman stated.

"In actuality, when you review the record of the sport, over the last 20 or 30 years there have been particular chairmen, a small minority, but some who have been irresponsible in the approach they have taken toward their teams and eventually refuse to accept accountability for the long-term prospects."

'If we get it wrong, extraordinary progress vanishes'

Kogan met with delegates from multiple organizations to explain the responsibilities of the authority recently and stated it constituted a "progressive gathering" 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 world of football gets it wrong, the remarkable development accomplished might evaporate swiftly," Kogan said.

"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 coming into football and has come into football for the last 20 or 25 years, because certainty is lacking it will continue to come into football, which is among the factors explaining I think we have to take a really clear view on challenges and obviously, of the immediate future."

Elite Division Worries

The Premier League opposed the formation of an authority because of fears of a negative impact on the elite division's competitive balance, but Kogan said: "I'm absolutely committed to the prosperity and expansion as an commercial operation of the top division.

"As someone who appreciates the concern of undermining the division as a high-quality offering of England. But concurrently, if you consult with top flight officials after this week's discussion, they would have had a significant degree of comfort -and, actually, they have been telling us in private they have a significant confidence."

Ideological Links

The regulator remains subject to a "comprehensive investigation" by the official appointments authority after he disclosed making donations to the opposition group in recent years.

The chairman provided financial support for government minister the minister's leadership bid, 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," Kogan said.

"I am no longer involved in any form of political activity."