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The Championship club's ongoing struggles constitute a "serious issue" and the football regulator is aiming to acquire authority to investigate clubs in comparable cases, its new chair David Kogan has announced.

During an extensive discussion, Kogan, who was appointed on Monday, voiced concern towards the club's followers.

Kogan met with four supporters' associations representing the South Yorkshire club recently.

The Championship side have been experiencing difficulties in multiple areas in 2025, with the club failing to pay players on time on multiple instances, including in September.

"Evidently Wednesday represents a serious issue for football authorities and a major challenge for the sport," the chairman stated.

"Wednesday stands as one of the historic institutions for English football and this week we have met fan representatives.

"We are seeking authority... which will permit us to bring Wednesday and comparable cases referred to us if they warrant scrutiny and acted upon."

Financial Struggles and Proprietorship Status

Wednesday's embattled owner the current owner indicated in the summer he would be open to selling the club at Hillsborough, but he has been unable to finalize an agreement with potential new owners.

Delayed salary payments on time in earlier this year resulted in restrictions being imposed by the football authorities in summer, stopping Wednesday from completing any player acquisitions for the next three transfer windows, although that restriction was lifted in the end of the transfer window.

Authority's Position

The chairman stated: "The job [of the regulator] is there for the supporters of Wednesday, other clubs in similar situations where supporters are loyal to a local institution that has been part of their lives in many cases.

"I fully appreciate the team's plight, as I do for every team that over recent decades have faced collapse, or nearly ceased operations, for factors unrelated to the followers."

When asked if the oversight body could require an proprietor to divest a club if they are judged inappropriate, Kogan said: "If your question is 'would we intervene in the final instance?', the answer is once we gather the evidence and know what's going on, we will."

But the chairman emphasized that requiring chairmen to relinquish clubs would be viewed as the ultimate measure and the authority would rather to work with them.

"The last thing what we want to do is commence engagement with an particular organization, an particular chairman, without having the opportunity to collaborate with that chairman to fix the challenges confronting the team and the chairman's encountering," the regulator explained.

"In actuality, when you look back over the history of the game, over the past few decades there have been certain proprietors, few in number, but certain individuals who have acted carelessly in the way which they've been managing their teams and eventually refuse to accept accountability for the coming years."

'Mistakes could erase significant advances'

Kogan met with officials from numerous teams to explain the responsibilities of the oversight body this week and stated it constituted a "progressive gathering" with a "high level of engagement" from the grassroots to elite level.

"It's a job that's actually really important, because should mistakes occur, if the football community fails, the remarkable development accomplished might evaporate swiftly," Kogan said.

"And that's what nobody wants in the context of the English game is a major achievement - we need to continue the progress.

"Substantial financial resources entering the sport and has come into football for the recent generations, because there's no guarantee it will continue to come into football, which is one of the reasons why I think we have to adopt a precise perspective on challenges and obviously, of the next two or three years."

Premier League Concerns

Top flight officials resisted the formation of an authority because of apprehensions regarding adverse consequences on the elite division's competitive balance, but Kogan said: "I'm absolutely committed to the success and growth as an financial organization of the Premier League.

"As someone who appreciates the worry about compromising the Premier League as a premium product of this country. But simultaneously, if you engage with division representatives after this week's discussion, they would have had a substantial amount of confidence -and, indeed, they have been advising us privately they have a considerable comfort."

Partisan Associations

The regulator remains subject to a "comprehensive investigation" by the official appointments authority after he disclosed making donations to the opposition group in recent years.

The chairman contributed funds to government minister the politician's campaign, along with that of the current Prime Minister.

"I have been entirely transparent regarding my past party membership [with Labour], and that political affiliation came to an end the day the parliamentary committee confirmed my selection," Kogan said.

"I currently have no participation in any form of political activity."