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Sheffield Wednesday's current difficulties represent a a "significant problem" and the football regulator is aiming to acquire authority to investigate clubs in similar circumstances, its new chair the regulator has declared.

During an extensive discussion, the chairman, who was named to the position this week, expressed "sympathy" towards the club's followers.

The chairman convened with four fan organizations representing the football team recently.

The Championship side have been experiencing difficulties in multiple areas in 2025, with the club failing to pay players on time on several different times, including in the autumn.

"Obviously the club has become a significant problem for EFL and a major challenge for the sport," the regulator explained.

"Wednesday stands as one of the historic institutions for English football and recently we have met supporters' organizations.

"We are seeking authority... which will permit us to bring Wednesday and comparable cases submitted for our review if they require examination and acted upon."

Financial Struggles and Proprietorship Status

The team's struggling chairman Dejphon Chansiri suggested earlier this year he would be open to selling the club at the stadium, but he has not been able to secure a deal with interested parties.

Delayed salary payments on time in earlier this year caused limitations by the football authorities in mid-year, stopping Wednesday from completing any transfers or loans for the next three transfer windows, although the ban was rescinded in late summer.

Regulator's Perspective

The chairman stated: "The position was created for the Owls followers, other clubs in similar situations where supporters are loyal to a local institution that has existed throughout their lifetimes in many cases.

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

When asked if the authority might compel an chairman to relinquish a club if they are considered unfit, the regulator answered: "When asking whether 'would we intervene in the final instance?', the reply is once we collect the information and know what's going on, we will."

But the regulator clarified that compelling proprietors to divest clubs would be viewed as the ultimate measure and the regulator would prefer to collaborate with owners.

"The final option we would consider is commence engagement with an individual club, an particular chairman, 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 review the record of football, over the recent generations there have been certain proprietors, not many, but some who have been irresponsible in the manner they have operated their teams and eventually don't wish to take responsibility for the future."

'If we get it wrong, extraordinary progress vanishes'

Kogan met with delegates from multiple organizations to explain the responsibilities of the authority recently and maintained it represented a "proactive meeting" with a "significant participation" from the lower divisions to the top flight.

"It's a job that's actually really important, because if we get it wrong, if the football community fails, the remarkable development accomplished might evaporate swiftly," Kogan said.

"This represents everyone's worst fear in the context of the English game is a huge success story - we must maintain momentum.

"Substantial financial resources flowing into the game and has been invested for the past two decades, because certainty is lacking it will persist in entering the game, which is one of the reasons why I think we have to adopt a precise perspective on challenges and obviously, of the coming seasons."

Elite Division Worries

Top flight officials resisted the formation of an authority because of concerns about detrimental effects on the elite division's competitive balance, but Kogan said: "I fully support the achievement and development as an financial organization of the elite league.

"Being fully aware of the worry about compromising the top flight as an elite competition of England. But concurrently, if you engage with division representatives after this week's discussion, they would have had a substantial amount of confidence -and, actually, they have been advising us privately they have a considerable comfort."

Partisan Associations

The chairman continues to confront a "thorough examination" by the official appointments authority after he disclosed making donations to the political party in 2020.

The 68-year-old contributed funds 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 previous political affiliation [with Labour], and that political affiliation came to an end the day the parliamentary committee confirmed my selection," Kogan said.

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