'Our role is integral to football's future' - newly appointed regulator the regulator's chair
The Championship club's current difficulties are seen as a "major concern" and the independent regulator is aiming to acquire authority to look into club affairs in comparable cases, the newly appointed chairman the regulator has announced.
In a wide-ranging interview, the chairman, who was named to the position this week, expressed "sympathy" towards the club's followers.
The regulator engaged with four supporter groups associated with the South Yorkshire club in recent days.
The football club have been struggling on and off the field in 2025, with the club missing wage payments on several different times, including in September.
"Evidently Wednesday represents a major concern for the league and a major challenge for the sport," Kogan told.
"Wednesday stands as one of the historic institutions for English football and this week we have met supporters' organizations.
"We are seeking authority... which will permit us to bring Sheffield Wednesday - and other clubs brought to our attention if they need to be investigated and addressed."
Financial Struggles and Proprietorship Status
The club's controversial proprietor the Thai businessman indicated in the summer he would be open to selling the club at their home ground, but he has been unable to finalize an agreement with interested parties.
Missed wage deadlines on time in March and May caused limitations by the football authorities in mid-year, stopping Wednesday from completing any recruitment activities for the next three transfer windows, although those limitations were removed in the end of the transfer window.
Regulator's Perspective
The chairman stated: "The job [of the regulator] is there for the Owls followers, teams facing challenges where fans are dedicated to a local institution that has represented their community in many cases.
"I completely understand the team's plight, as I do for each organization that since 1992 have gone to the wall, or nearly ceased operations, for causes separate from the supporters."
Questioned about whether the regulator could force an owner to sell a club if they are considered unfit, Kogan said: "Should the inquiry concern 'would we intervene in the final instance?', the response would be once we assemble the facts and understand the situation, we will."
But the regulator clarified that compelling proprietors to divest clubs would be considered the final option and the oversight body would choose to work with them.
"The last thing what we want to do is begin intervening in an specific team, an specific proprietor, without having the opportunity to collaborate with that proprietor to address the problems affecting the organization and the chairman's encountering," Kogan said.
"In actuality, when you examine the past of the game, over the recent generations there have been certain proprietors, not many, but certain individuals who have acted carelessly in the way which they've been managing their clubs and ultimately decline to assume obligation for the long-term prospects."
Sheffield Wednesday supporters have been protesting against owner Dejphon Chansiri in recent months
'Mistakes could erase significant advances'
The regulator engaged representatives from 110 clubs to lay out the remit of the authority recently and stated it constituted a "forward-thinking discussion" with a "high level of engagement" from the National League to the Premier League.
"The role holds considerable importance, because should mistakes occur, if the world of football gets it wrong, the extraordinary progress that's been made necessary will vanish swiftly," Kogan said.
"This represents everyone's worst fear in the context of the English game is a substantial accomplishment - we've got to keep it going.
"Considerable investment entering the sport and has been invested for the last 20 or 25 years, because there are no assurances it will persist in entering the game, which is among the factors explaining I think we have to maintain a focused outlook on risk and of course, of the immediate future."
Elite Division Worries
Elite division representatives objected to the creation of a regulator because of fears of a negative impact on the top-flight's competitiveness, but the regulator stated: "I fully support the success and growth as an financial organization of the top division.
"As someone who appreciates the worry about compromising the Premier League as a premium product of the nation. 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."
Ideological Links
The chairman continues to confront a "thorough examination" by the Commissioner for Public Appointments after he revealed he contributed money to the Labour Party in the past.
The chairman donated money to Culture Secretary Lisa Nandy's leadership campaign, along with that of the current Prime Minister.
"I have been entirely transparent regarding my former ideological connection [with Labour], and that party membership ceased the day the select committee approved my appointment," the chairman stated.
"I am presently disconnected from any sort of politics."
