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The Championship club's persistent issues represent a a "serious issue" and the football regulator is looking to gain the ability to investigate clubs in comparable cases, the recently named head the regulator has announced.

In a wide-ranging interview, Kogan, who was recently selected, voiced concern towards supporters of the Owls.

Kogan met with four supporter groups representing the Championship side in recent days.

The team have been facing challenges both on and off the pitch in 2025, with the club delaying salary disbursements on multiple instances, including in September.

"Obviously the club has become a significant problem for EFL and a substantial concern for English football," the regulator explained.

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

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

Monetary Issues and Proprietorship Status

The team's struggling chairman the current owner indicated in the summer he would be prepared to relinquish control at their home ground, but he has not been able to secure a deal with interested parties.

Failure to pay player wages on time in spring months led to sanctions by the English Football League (EFL) in June, preventing the club from carrying out any transfers or loans for the following recruitment periods, although the ban was rescinded in late summer.

Official's Viewpoint

Kogan said: "The position was created for the fans of Sheffield Wednesday, teams facing challenges where people are committed to a regional establishment that has represented their community in multiple situations.

"I completely understand the club's situation, as I do for each organization that since 1992 have gone to the wall, or been close to going to the wall, for causes separate from the supporters."

When asked if the oversight body could require an owner to sell a club if they are deemed unsuitable, the chairman responded: "When asking whether 'would we intervene in the final instance?', the response would be once we gather the evidence and know what's going on, we will."

But Kogan stressed that requiring chairmen to relinquish clubs would be viewed as the ultimate measure and the authority would rather to work with them.

"The last thing what we want to do is begin intervening in an individual club, an individual owner, without being in a position to cooperate with that proprietor to address the issues that the club's facing and the proprietor's dealing with," the regulator explained.

"However, realistically, when you look back over the history of the sport, over the past few decades there have been certain proprietors, not many, but certain individuals who have acted carelessly in the approach they have taken toward their organizations and finally decline to assume obligation 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 oversight body this week and maintained it represented a "progressive gathering" with a "significant participation" from the grassroots to elite level.

"The role holds considerable importance, because should mistakes occur, if the sport makes errors, the remarkable development accomplished could disappear rapidly," the chairman stated.

"Such an outcome is universally undesirable in the realm of domestic football is a substantial accomplishment - we must maintain momentum.

"Considerable investment coming into football and has been channeled for the past two decades, because there are no assurances it will keep flowing into the sport, which is one of the reasons why I think we have to take a really clear view on risk and of course, of the immediate future."

Premier League Concerns

The Premier League opposed the formation of an authority because of fears of a negative impact on the top-flight's competitiveness, but the chairman responded: "I'm absolutely committed to the achievement and development as an financial organization of the top division.

"Being fully aware of the concern of undermining the Premier League as a premium product of this country. But simultaneously, if you consult with top flight officials after the recent gathering, they would have had a significant degree of comfort -and, indeed, they have been informing us confidentially they have a considerable comfort."

Political Connections

Kogan is still facing a "thorough examination" by the public appointments commissioner after he disclosed making donations to the opposition group in the past.

The 68-year-old donated money to government minister the politician's campaign, along with that of the government leader.

"I have been entirely transparent regarding my previous political affiliation [with Labour], and that party membership ceased the day the select committee approved my appointment," Kogan said.

"I am presently disconnected from any form of political activity."