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The Championship club's ongoing struggles are seen as a "major concern" and the independent regulator is seeking powers to investigate clubs in such situations, its new chair David Kogan has stated.

In a wide-ranging interview, the regulator, who was appointed on Monday, expressed "sympathy" towards supporters of the Owls.

The regulator engaged with four supporters' associations connected to the Championship side in recent days.

The Championship side have been struggling on and off the field in 2025, with the club failing to pay players on time on five separate occasions, including in last month.

"Clearly Sheffield Wednesday has been a significant problem for EFL and a significant problem for football," the regulator explained.

"Sheffield Wednesday is one of the great brands for football in England 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 submitted for our review if they need to be investigated and dealt with."

Financial Struggles and Proprietorship Status

Wednesday's embattled owner the current owner suggested earlier this year 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 English Football League (EFL) in summer, stopping Wednesday from completing any recruitment activities for the following recruitment periods, although those limitations were removed in August.

Official's Viewpoint

Kogan said: "Our role exists to serve the supporters of Wednesday, 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 been close to going to the wall, for causes separate from the supporters."

Inquired if the oversight body could require an owner to sell a club if they are considered unfit, the chairman responded: "If your question is 'would we intervene in the final instance?', the response would be once we collect the information and know what's going on, we will."

But Kogan stressed that requiring chairmen to relinquish clubs would be considered the final option and the oversight body would choose to collaborate with owners.

"Our least desirable course of action is commence engagement with an individual club, an specific proprietor, without having the opportunity to collaborate with that proprietor to address the issues that the club's facing and the owner's facing," the regulator explained.

"However, realistically, when you look back over the history of the game, over the last 20 or 30 years there have been some owners, few in number, but particular people who have shown negligence in the approach they have taken toward their clubs and ultimately don't wish to take responsibility for the long-term prospects."

'If we get it wrong, extraordinary progress vanishes'

The regulator engaged representatives from 110 clubs to explain the responsibilities of the regulator on Wednesday and stated it constituted a "proactive meeting" with a "significant participation" from the National League to the Premier League.

"It's a job that's actually really important, because should mistakes occur, if the football community fails, the remarkable development accomplished might evaporate incredibly quickly," the chairman stated.

"This represents everyone's worst fear in the terms of English football is a major achievement - we've got to keep it going.

"Substantial financial resources entering the sport and has been invested for the recent generations, because there's no guarantee it will continue to come into football, which is among the factors explaining I think we have to adopt a precise perspective on risk and of course, of the immediate future."

Elite Division Worries

Top flight officials resisted the creation of a regulator because of apprehensions regarding adverse consequences on the Premier League's sporting equality, but the regulator stated: "I'm absolutely committed to the prosperity and expansion as an commercial operation of the Premier League.

"Being fully aware of the worry about compromising the Premier League as a premium product of the nation. But simultaneously, if you consult with top flight officials after today's meeting, they would have had a high level of reassurance -and, actually, they have been telling us in private they have a significant confidence."

Political Connections

The regulator remains subject to a "full inquiry" by the official appointments authority after he revealed he contributed money to the Labour Party in 2020.

The 68-year-old donated money to Secretary of State for Culture, Media and Sport the politician's campaign, along with that of the government leader.

"I have fully disclosed my past party membership [with Labour], and that political affiliation came to an end the day the official body endorsed my nomination," the regulator explained.

"I am presently disconnected from any sort of politics."