By Martin Graham
The incoming football regulator will be able to obligate unsuitable club owners to sell as a “final measure,” according to its newly appointed chair, David Kogan. He confirmed that discussions are underway to secure the necessary powers to intervene in cases such as Sheffield Wednesday’s ongoing difficulties.
Kogan met with four supporters’ groups connected to the South Yorkshire side and voiced his understanding of their situation. The Championship outfit has endured repeated financial issues in 2025, including five separate delays in wage payments, the most recent occurring in September.
“Sheffield Wednesday has posed a considerable challenge for the English Football League and for the sport overall,” Kogan told BBC Sport. He emphasized the historical importance of the club and indicated that the regulator aims to be able to investigate and take action when required.
Owner Dejphon Chansiri stated during the summer that he was open to selling the club but has been unable to finalize a transaction with potential investors. Earlier wage delays in March and May led to the EFL imposing sanctions in June, which blocked transfers and loans across three windows. That penalty was lifted two months later.
Sheffield Wednesday’s troubles highlight regulator’s aims
Kogan explained that the regulator’s mission is to safeguard clubs and their communities, citing the loyalty of supporters who have stood by teams for generations. “I fully understand the position of Sheffield Wednesday’s fans, as well as those of other clubs that have faced collapse or near-collapse since 1992 for reasons unrelated to their own actions,” he said.
He noted that intervention would occur only after gathering clear evidence and understanding the situation. The preference remains to collaborate with club owners to find solutions, rather than impose sales immediately.
However, Kogan acknowledged that over the past few decades, a minority of owners have managed their clubs irresponsibly and have failed to plan for their future sustainability.
Engagement across the football pyramid
On Wednesday, representatives from 110 clubs attended a meeting to outline the regulator’s responsibilities. Kogan described it as “proactive” and said that there was strong participation from clubs at every level, from the National League through to the Premier League.
He warned that any missteps in the regulatory process could undermine the significant advances made in English football. “If mistakes are made, the rapid progress achieved could disappear very quickly,” he cautioned, stressing the importance of maintaining the game’s stability.
Kogan highlighted the substantial revenue that has flowed into the sport over the past two decades but noted that there is no assurance this will continue, making it essential to manage financial risk carefully in the years ahead.
Premier League cooperation and financial structure
While the Premier League had previously voiced concerns that regulation could weaken its competitive edge, Kogan insisted he supports the league’s economic growth and global position. After the meeting, he said top-flight officials had expressed confidence in the regulator’s approach.
Drawing on his experience negotiating major television deals, Kogan warned that broadcast revenue streams are not guaranteed to remain at current levels. The regulator is expected to help end the deadlock between the Premier League and the EFL over financial redistribution.
Kogan explained that the new body will review how football’s income is shared, aiming to ensure stability across all divisions. Both leagues are now prepared to revisit negotiations after several years of stalemate.
Inquiry into Kogan’s appointment
Kogan’s appointment is still subject to a full investigation by the Commissioner for Public Appointments due to his previous donations to the Labour Party in 2020. He financially supported leadership campaigns for Lisa Nandy and current Prime Minister Sir Keir Starmer.
He stressed that his political involvement ended once his selection was approved. “I’ve been transparent about my previous links, and those ended when the committee confirmed my appointment,” he said.
The government proceeded with his appointment before the inquiry was completed because of the urgency to establish leadership. Kogan explained that immediate engagement was necessary, as clubs and stakeholders had been calling for dialogue with the regulator.
