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The Championship club's persistent issues are seen as a "major concern" and the new football authority is seeking powers to look into club affairs in similar circumstances, the newly appointed chairman David Kogan has announced.

Through a comprehensive talk, the regulator, who was appointed on Monday, voiced concern towards supporters of the Owls.

The chairman convened with four supporter groups connected to the South Yorkshire club recently.

The team have been experiencing difficulties in multiple areas in 2025, with the club delaying salary disbursements on several different times, including in September.

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

"Wednesday stands as one of the historic institutions for English football and recently we have met fan representatives.

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

Financial Struggles and Proprietorship Status

Wednesday's embattled owner the Thai businessman suggested earlier this year he would be prepared to relinquish control at Hillsborough, but he has failed to complete a sale with prospective buyers.

Delayed salary payments on time in spring months resulted in restrictions being imposed by the league officials in summer, blocking the team from conducting any player acquisitions for the subsequent signing windows, although the ban was rescinded in August.

Authority's Position

The chairman stated: "The job [of the regulator] is there for the Owls followers, Bury or any football club where supporters are loyal to a local institution that has represented their community in multiple situations.

"I completely understand the club's situation, as I do for each organization that over recent decades have faced collapse, or approached financial ruin, for reasons that have nothing to do with the followers."

Inquired if the authority might compel an proprietor to divest a club if they are judged inappropriate, Kogan said: "Should the inquiry concern 'would we intervene in the final instance?', the reply is once we assemble the facts and understand the situation, we will."

But Kogan stressed that forcing owners to sell clubs would be treated as a "last resort" and the regulator would prefer to cooperate with proprietors.

"The final option we would consider is commence engagement with an particular organization, an specific proprietor, without having the opportunity to collaborate with that proprietor to address the challenges confronting the team and the chairman's encountering," the chairman stated.

"However, realistically, when you look back over the history of football, over the last 20 or 30 years there have been some owners, few in number, but some who have been irresponsible in the way which they've been managing their teams and eventually refuse to accept accountability for the future."

'If we get it wrong, extraordinary progress vanishes'

Kogan met with representatives from 110 clubs to lay out the remit of the regulator on Wednesday and maintained it represented a "proactive meeting" with a "substantial involvement" from the lower divisions to the top flight.

"The role holds considerable importance, because if errors are made, if the football community fails, the significant advances achieved could disappear swiftly," the regulator warned.

"Such an outcome is universally undesirable in the context of the English game is a major achievement - we need to continue the progress.

"Considerable investment flowing into the game and has been channeled for the last 20 or 25 years, because there's no guarantee it will persist in entering the game, which is one of the reasons why I think we have to adopt a precise perspective on risk and of course, of the coming seasons."

Top Flight Apprehensions

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 prosperity and expansion as an commercial operation of the top division.

"I of all people understand the concern of undermining the division as a high-quality offering of this country. But at the same time, if you talk to the Premier League after this week's discussion, they would have had a significant degree of comfort -and, in fact, they have been advising us privately they have a considerable comfort."

Partisan Associations

Kogan is still facing a "comprehensive investigation" by the official appointments authority after he acknowledged providing funds to the political party in the past.

The chairman provided financial support for Secretary of State for Culture, Media and Sport Lisa Nandy's leadership campaign, along with that of the government leader.

"I have fully disclosed my past party membership [with Labour], and that ideological connection terminated the day the select committee approved my appointment," the regulator explained.

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