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The team's persistent issues are seen as a "major concern" and the independent regulator is looking to gain the ability to investigate clubs in similar circumstances, the recently named head David Kogan has announced.

During an extensive discussion, Kogan, who was appointed on Monday, showed understanding towards the club's followers.

The regulator engaged with four supporter groups representing the South Yorkshire club recently.

The team have been facing challenges both on and off the pitch in 2025, with the club failing to pay players on time on several different times, including in the autumn.

"Clearly Sheffield Wednesday has been a major concern for the league and a substantial concern for English football," the chairman stated.

"Wednesday stands as one of the great brands for English football and this week we have met Sheffield Wednesday supporters' groups.

"Our aim is to acquire the ability... which will allow us to have the club and similar situations submitted for our review if they need to be investigated and acted upon."

Financial Struggles and Leadership Concerns

Wednesday's embattled owner the Thai businessman indicated in the summer he would be prepared to relinquish control at the stadium, but he has failed to complete a sale with prospective buyers.

Failure to pay player wages on time in spring months led to sanctions by the English Football League (EFL) in summer, blocking the team from conducting any transfers or loans for the next three transfer windows, although the ban was rescinded in late summer.

Official's Viewpoint

The chairman stated: "Our role exists to serve the supporters of Wednesday, Bury or any football club where people are committed to a regional establishment that has represented their community in numerous instances.

"I fully appreciate the club's situation, as I do for each organization that over recent decades have faced collapse, or been close to going to the wall, for factors unrelated to the supporters."

Inquired if the authority might compel an owner to sell a club if they are deemed unsuitable, the regulator answered: "When asking whether 'would we intervene in the final instance?', the answer is once we gather the evidence and comprehend the circumstances, 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.

"Our least desirable course of action is commence engagement with an individual club, an particular chairman, without being able to work with that chairman to fix the problems affecting the organization and the proprietor's dealing with," the regulator explained.

"However, realistically, when you look back over the history of the sport, over the recent generations there have been some owners, not many, but certain individuals who have acted carelessly in the way which they've been managing their clubs and ultimately don't wish to take responsibility for the future."

'If we get it wrong, extraordinary progress vanishes'

The chairman convened with delegates from multiple organizations to explain the responsibilities of the authority recently and stated it constituted a "progressive gathering" with a "high level of engagement" from the grassroots to elite level.

"The role holds considerable importance, because should mistakes occur, if the football community fails, the significant advances achieved could disappear rapidly," the chairman stated.

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

"Considerable investment entering the sport and has come into football for the recent generations, because there's no guarantee it will persist in entering the game, which is among the factors explaining I think we have to adopt a precise perspective on risk and of course, of the immediate future."

Premier League Concerns

Elite division representatives objected to the creation of a regulator because of apprehensions regarding adverse consequences on the top-flight's competitiveness, but Kogan said: "I completely endorse the achievement and development as an commercial operation of the Premier League.

"Being fully aware of the apprehension regarding damaging the top flight as an elite competition of the nation. But simultaneously, if you consult with top flight officials after today's meeting, they would have had a significant degree of comfort -and, actually, they have been telling us in private they have a high level of reassurance."

Partisan Associations

Kogan is still facing a "comprehensive investigation" by the official appointments authority after he disclosed making donations to the Labour Party in the past.

The official provided financial support for Culture Secretary the politician's campaign, along with that of the government leader.

"I have fully disclosed my previous political affiliation [with Labour], and that political affiliation came to an end the day the select committee approved my appointment," the regulator explained.

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