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The Championship club's ongoing struggles constitute a "major concern" and the new football authority is looking to gain the ability to investigate clubs in such situations, the newly appointed chairman David Kogan has declared.

Through a comprehensive talk, the regulator, who was recently selected, showed understanding towards Wednesday's fanbase.

The chairman convened with four supporter groups 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 multiple instances, including in September.

"Clearly Sheffield Wednesday has been a significant problem for EFL and a significant problem for football," Kogan told.

"The club represents one of the iconic names for football in England and in recent days we have met fan representatives.

"Our aim is to acquire the ability... which will enable us to take Sheffield Wednesday - and other clubs submitted for our review if they require examination and addressed."

Economic Challenges and Ownership Situation

Wednesday's embattled owner Dejphon Chansiri indicated in the summer he would be prepared to relinquish control at Hillsborough, but he has been unable to finalize an agreement with interested parties.

Missed wage deadlines on time in spring months caused limitations by the English Football League (EFL) in summer, preventing the club from carrying out any transfers or loans for the next three transfer windows, although the ban was rescinded in late summer.

Regulator's Perspective

The regulator explained: "The job [of the regulator] is there for the supporters of Wednesday, other clubs in similar situations where fans are dedicated to a regional establishment that has represented their community in many cases.

"I completely understand the team's plight, as I do for all the clubs that over recent decades have faced collapse, or been close to going to the wall, for factors unrelated to the fans themselves."

Questioned about whether the regulator could force an chairman to relinquish a club if they are considered unfit, Kogan said: "Should the inquiry concern 'would we intervene in the final instance?', the reply is once we gather the evidence and understand the situation, we will."

But the chairman emphasized that forcing owners to sell clubs would be considered the final option and the authority would rather to cooperate with proprietors.

"Our least desirable course of action is begin intervening in an particular organization, an particular chairman, without having the opportunity to collaborate with that owner to try and resolve the problems affecting the organization and the proprietor's dealing with," the regulator explained.

"However, realistically, when you examine the past of the game, over the past few decades there have been some owners, few in number, but certain individuals who have acted carelessly in the approach they have taken toward their organizations and finally don't wish to take responsibility for the future."

'Errors may undo substantial development'

The regulator engaged officials from numerous teams to lay out the remit of the authority recently and stated it constituted a "forward-thinking discussion" with a "significant participation" from the lower divisions to the top flight.

"The role holds considerable importance, because should mistakes occur, if the sport makes errors, the extraordinary progress that's been made necessary will vanish incredibly quickly," the chairman stated.

"Such an outcome is universally undesirable in the realm of domestic football is a major achievement - we need to continue the progress.

"There's an enormous amount of money coming into football and has been channeled for the recent generations, because there's no guarantee it will keep flowing into the sport, which is among the factors explaining I think we have to adopt a precise perspective on risk and of course, of the next two or three years."

Premier League Concerns

The Premier League opposed the creation of a regulator because of concerns about detrimental effects on the Premier League's sporting equality, but the chairman responded: "I fully support the achievement and development as an financial organization of the top division.

"As someone who appreciates the worry about compromising the top flight as an elite competition of England. But at the same time, if you engage with division representatives after the recent gathering, they would have had a high level of reassurance -and, in fact, they have been informing us confidentially they have a high level of reassurance."

Political Connections

The regulator remains subject to a "thorough examination" by the official appointments authority after he revealed he contributed money to the political party in the past.

The 68-year-old provided financial support for government minister the politician's campaign, along with that of the now Prime Minister Sir Keir Starmer.

"I've been completely open about my previous political affiliation [with Labour], and that party membership ceased the day the select committee approved my appointment," the chairman stated.

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