'We are going to be a part of football's future' - independent football regulator David Kogan
The Championship club's current difficulties constitute a "major concern" and the new football authority is looking to gain the ability to investigate clubs in comparable cases, the newly appointed chairman the official has declared.
In a wide-ranging interview, the chairman, who was named to the position this week, showed understanding towards supporters of the Owls.
Kogan met with four supporters' associations connected to the football team in recent days.
The football club have been facing challenges both on and off the pitch in 2025, with the club missing wage payments on multiple instances, including in September.
"Obviously the club has become a serious issue for football authorities and a significant problem for football," the regulator explained.
"The club represents one of the great brands for English football and recently we have met supporters' organizations.
"We're now looking to get powers... which will allow us to have the club and similar situations brought to our attention if they warrant scrutiny and acted upon."
Monetary Issues and Leadership Concerns
Wednesday's embattled owner the Thai businessman indicated in the summer he would be willing to sell up at Hillsborough, but he has been unable to finalize an agreement with potential new owners.
Missed wage deadlines on time in earlier this year caused limitations by the football authorities in summer, preventing the club from carrying out any transfers or loans for the next three transfer windows, although that restriction was lifted in the end of the transfer window.
Authority's Position
Kogan said: "The job [of the regulator] is there for the supporters of Wednesday, teams facing challenges where people are committed to a community organization that has existed throughout their lifetimes in multiple situations.
"I completely understand the team's plight, as I do for each organization that over recent decades have faced collapse, or nearly ceased operations, for causes separate from the supporters."
Inquired if the regulator could force an chairman to relinquish a club if they are judged inappropriate, the regulator answered: "If your question is 'would we intervene in the final instance?', the answer is once we assemble the facts and comprehend the circumstances, we will."
But the regulator clarified that requiring chairmen to relinquish clubs would be viewed as the ultimate measure and the oversight body would choose to work with them.
"The last thing what we want to do is commence engagement 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 chairman's encountering," Kogan said.
"But the truth is, when you examine the past of the game, over the past few decades there have been certain proprietors, a small minority, but certain individuals who have acted carelessly in the manner they have operated their organizations and finally refuse to accept accountability for the coming years."
Owls fans have been protesting against the current proprietor this season
'If we get it wrong, extraordinary progress vanishes'
The regulator engaged delegates from multiple organizations to detail the scope of the authority recently and insisted it was a "progressive gathering" with a "substantial involvement" from the grassroots to elite level.
"This position carries substantial significance, because if errors are made, if the football community fails, the remarkable development accomplished necessary will vanish incredibly quickly," the chairman stated.
"And that's what nobody wants in the context of the English game is a substantial accomplishment - we've got to keep it going.
"Substantial financial resources coming into football and has been channeled for the last 20 or 25 years, because certainty is lacking it will persist in entering the game, which is one of the reasons why I think we have to maintain a focused outlook on risk and of course, of the next two or three years."
Premier League Concerns
Top flight officials resisted the creation of a regulator because of fears of a negative impact on the elite division's competitive balance, but the chairman responded: "I'm absolutely committed to the success and growth as an economic entity of the elite league.
"Being fully aware of the concern of undermining the Premier League as a premium product of the nation. But at the same time, if you engage with division representatives after the recent gathering, they would have had a significant degree of comfort -and, actually, they have been telling us in private they have a significant confidence."
Political Connections
The regulator remains subject to a "comprehensive investigation" by the official appointments authority after he revealed he contributed money to the Labour Party in 2020.
The chairman provided financial support for government minister the minister's leadership bid, along with that of the current Prime Minister.
"I have been entirely transparent regarding my previous political affiliation [with Labour], and that political affiliation came to an end the day the official body endorsed my nomination," Kogan said.
"I currently have no participation in any type of partisan engagement."
