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Sheffield Wednesday's current difficulties are seen as a "major concern" and the football regulator is aiming to acquire authority to look into club affairs in such situations, the newly appointed chairman the regulator has announced.

In a wide-ranging interview, the regulator, who was recently selected, showed understanding towards Wednesday's fanbase.

The regulator engaged with four fan organizations representing the South Yorkshire club in recent days.

The football club have been facing challenges both on and off the pitch in 2025, with the club failing to pay players on time on five separate occasions, including in September.

"Obviously the club has become a serious issue for football authorities and a significant problem for football," the regulator explained.

"The club represents one of the iconic names for football in England and this week 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 brought to our attention if they need to be investigated and addressed."

Financial Struggles and Leadership Concerns

Wednesday's embattled owner the Thai businessman indicated in the summer he would be prepared to relinquish control at Hillsborough, but he has failed to complete a sale with potential new owners.

Failure to pay player wages on time in spring months led to sanctions by the league officials in mid-year, preventing the club from carrying out any transfers or loans for the next three transfer windows, although that restriction was lifted in August.

Official's Viewpoint

The regulator explained: "Our role exists to serve the Owls followers, other clubs in similar situations where people are committed to a regional establishment that has existed throughout their lifetimes in many cases.

"I have absolute sympathy for Sheffield Wednesday, as I do for every team that since 1992 have gone to the wall, or been close to going to the wall, for factors unrelated to the supporters."

Inquired if the authority might compel an proprietor to divest a club if they are judged inappropriate, Kogan said: "Should the inquiry concern 'would we intervene in the final instance?', the response would be once we gather the evidence and understand the situation, we will."

But Kogan stressed that requiring chairmen to relinquish clubs would be treated as a "last resort" and the regulator would prefer to collaborate with owners.

"Our least desirable course of action is commence engagement with an individual club, an particular chairman, without being able to work with that proprietor to address the issues that the club's facing and the chairman's encountering," the chairman stated.

"In actuality, when you examine the past of the game, over the past few decades there have been certain proprietors, a small minority, but certain individuals who have acted carelessly in the way which they've been managing their clubs and ultimately don't wish to take responsibility for the future."

'If we get it wrong, extraordinary progress vanishes'

The regulator engaged delegates from multiple organizations to lay out the remit of the authority recently and maintained it represented a "forward-thinking discussion" with a "significant participation" from the lower divisions to the top flight.

"It's a job that's actually really important, because should mistakes occur, if the football community fails, the extraordinary progress that's been made could disappear rapidly," the regulator warned.

"Such an outcome is universally undesirable in the terms of English football is a major achievement - we need to continue the progress.

"There's an enormous amount of money flowing into the game and has come into football for the past two decades, because there are no assurances it will continue to come into football, which is one of the reasons why I think we have to take a really clear view on potential dangers and naturally, of the next two or three years."

Elite Division Worries

Top flight officials resisted the formation of an authority because of concerns about detrimental effects on the Premier League's sporting equality, but the regulator stated: "I fully support the achievement and development as an commercial operation of the top division.

"As someone who appreciates the concern of undermining the top flight as an elite competition of this country. But at the same time, if you consult with top flight officials after the recent gathering, they would have had a substantial amount of confidence -and, in fact, they have been informing us confidentially they have a significant confidence."

Political Connections

The regulator remains subject to a "full inquiry" by the official appointments authority after he revealed he contributed money to the Labour Party in recent years.

The chairman donated money to government minister the politician's campaign, along with that of the now Prime Minister Sir Keir Starmer.

"I have been entirely transparent regarding my former ideological connection [with Labour], and that ideological connection terminated the day the official body endorsed my nomination," the chairman stated.

"I currently have no participation in any sort of politics."