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Sheffield Wednesday's ongoing struggles represent a a "significant problem" and the football regulator is looking to gain the ability to investigate clubs in similar circumstances, its new chair the regulator has announced.

In a wide-ranging interview, the chairman, who was named to the position this week, voiced concern towards Wednesday's fanbase.

Kogan met with four fan organizations connected to the Championship side this week.

The football club have been facing challenges both on and off the pitch in 2025, with the club delaying salary disbursements on several different times, including in the autumn.

"Evidently Wednesday represents a significant problem for EFL and a major challenge for the sport," the chairman stated.

"Sheffield Wednesday is one of the iconic names for football in England and recently we have met Sheffield Wednesday supporters' groups.

"Our aim is to acquire the ability... which will enable us to take Sheffield Wednesday - and other clubs referred to us if they require examination and acted upon."

Economic Challenges and Proprietorship Status

The club's controversial proprietor the current owner suggested earlier this year he would be willing to sell up at the stadium, but he has failed to complete a sale with interested parties.

Failure to pay player wages on time in March and May caused limitations by the league officials in June, blocking the team from conducting any player acquisitions for the next three transfer windows, although that restriction was lifted in the end of the transfer window.

Regulator's Perspective

The regulator explained: "Our role exists to serve the fans of Sheffield Wednesday, teams facing challenges where supporters are loyal to a regional establishment that has existed throughout their lifetimes in numerous instances.

"I have absolute sympathy for the team's plight, as I do for every team that in modern times have encountered failure, or been close to going to the wall, for reasons that have nothing to do with the followers."

When asked if the oversight body could require an owner to sell a club if they are judged inappropriate, the regulator answered: "If your question is 'would we intervene in the final instance?', the reply is once we gather the evidence and comprehend the circumstances, we will."

But the regulator clarified that forcing owners to sell clubs would be treated as a "last resort" and the oversight body would choose to work with them.

"The last thing what we want to do is begin intervening in an particular organization, an individual owner, without being able to work with that chairman to fix the challenges confronting the team and the owner's facing," Kogan said.

"But the truth is, when you look back over the history of the game, over the last 20 or 30 years there have been particular chairmen, not many, but particular people who have shown negligence in the approach they have taken toward their teams and eventually don't wish to take responsibility for the long-term prospects."

'Mistakes could erase significant advances'

The chairman convened with representatives from 110 clubs to lay out the remit of the authority recently and insisted it was a "progressive gathering" with a "significant participation" from the National League to the Premier League.

"The role holds considerable importance, because if errors are made, if the sport makes errors, the significant advances achieved necessary will vanish swiftly," the chairman stated.

"Such an outcome is universally undesirable in the context of the English game is a huge success story - we must maintain momentum.

"There's an enormous amount of money flowing into the game and has been channeled for the last 20 or 25 years, because certainty is lacking it will persist in entering the game, which is part of the rationale behind I think we have to take a really clear view on challenges and obviously, of the coming seasons."

Premier League Concerns

Top flight officials resisted the formation of an authority because of fears of a negative impact on the elite division's competitive balance, but the regulator stated: "I'm absolutely committed to the prosperity and expansion as an economic entity of the top division.

"Being fully aware of the worry about compromising the Premier League as a premium product of this country. But concurrently, if you engage with division representatives after today's meeting, they would have had a significant degree of comfort -and, actually, they have been advising us privately they have a high level of reassurance."

Political Connections

Kogan is still facing a "comprehensive investigation" by the Commissioner for Public Appointments after he disclosed making donations to the opposition group in recent years.

The 68-year-old contributed funds to government minister the minister's leadership bid, 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 select committee approved my appointment," the regulator explained.

"I am presently disconnected from any type of partisan engagement."