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Sheffield Wednesday's persistent issues are seen as a "serious issue" and the independent regulator is looking to gain the ability to investigate clubs in such situations, its new chair David Kogan has declared.

During an extensive discussion, the chairman, who was named to the position this week, voiced concern towards Wednesday's fanbase.

The regulator engaged with four supporter groups representing the Championship side in recent days.

The football club have been struggling on and off the field in 2025, with the club missing wage payments on multiple instances, including in September.

"Obviously the club has become a major concern for the league and a major challenge for the sport," the chairman stated.

"Wednesday stands as one of the iconic names for the English game and in recent days we have met Sheffield Wednesday supporters' groups.

"We're now looking to get powers... which will allow us to have the club and similar situations submitted for our review if they require examination and acted upon."

Financial Struggles and Leadership Concerns

The team's struggling chairman the current owner indicated in the summer he would be willing to sell up at the stadium, but he has not been able to secure a deal with potential new owners.

Missed wage deadlines on time in earlier this year resulted in restrictions being imposed by the English Football League (EFL) in June, stopping Wednesday from completing any player acquisitions for the following recruitment periods, although that restriction was lifted in late summer.

Authority's Position

The regulator explained: "The job [of the regulator] is there for the supporters of Wednesday, teams facing challenges where people are committed to a community organization that has represented their community in multiple situations.

"I have absolute sympathy for Sheffield Wednesday, as I do for every team that over recent decades have faced collapse, or nearly ceased operations, for causes separate from the fans themselves."

Questioned about whether the oversight body could require an chairman to relinquish 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 assemble the facts and understand the situation, we will."

But the regulator clarified that forcing owners to sell clubs would be considered the final option and the authority would rather to collaborate with owners.

"The last thing what we want to do is begin intervening in an specific team, an particular chairman, without being in a position to cooperate with that chairman to fix the challenges confronting the team and the proprietor's dealing with," the regulator explained.

"However, realistically, when you examine the past of football, over the past few decades there have been some owners, not many, but some who have been irresponsible in the approach they have taken toward their clubs and ultimately don't wish to take responsibility for the coming years."

'If we get it wrong, extraordinary progress vanishes'

The regulator engaged representatives from 110 clubs to lay out the remit of the oversight body this week and stated it constituted a "progressive gathering" with a "high level of engagement" from the lower divisions to the top flight.

"This position carries substantial significance, because if errors are made, if the football community fails, the remarkable development accomplished might evaporate incredibly quickly," the regulator warned.

"This represents everyone's worst fear in the context of the English game is a huge success story - we've got to keep it going.

"There's an enormous amount of money entering the sport and has been invested for the last 20 or 25 years, because there are no assurances it will continue to come into football, which is part of the rationale behind I think we have to take a really clear view on potential dangers and naturally, of the coming seasons."

Elite Division Worries

Top flight officials resisted the creation of a regulator because of apprehensions regarding adverse consequences on the elite division's competitive balance, but Kogan said: "I fully support the success and growth as an commercial operation of the top division.

"I of all people understand the concern of undermining the division as a high-quality offering of England. But simultaneously, if you talk to the Premier League after this week's discussion, they would have had a significant degree of comfort -and, indeed, they have been informing us confidentially they have a high level of reassurance."

Political Connections

The regulator remains subject to a "thorough examination" by the public appointments commissioner after he disclosed making donations to the opposition group in the past.

The chairman provided financial support for government minister the politician's campaign, along with that of the now Prime Minister Sir Keir Starmer.

"I have fully disclosed my previous political affiliation [with Labour], and that party membership ceased the day the select committee approved my appointment," the chairman stated.

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