'We will play a key role in football's future' - independent football regulator David Kogan
The Championship club's ongoing struggles represent a a "serious issue" and the new football authority is aiming to acquire authority to investigate clubs in comparable cases, the recently named head the regulator has declared.
In a wide-ranging interview, the chairman, who was recently selected, showed understanding towards Wednesday's fanbase.
The chairman convened with four supporters' associations associated with the South Yorkshire club recently.
The football club have been struggling on and off the field in this season, with the club failing to pay players on time on five separate occasions, including in the autumn.
"Clearly Sheffield Wednesday has been a serious issue for football authorities and a substantial concern for English football," the regulator explained.
"Wednesday stands as one of the historic institutions for football in England and this week we have met Sheffield Wednesday supporters' groups.
"Our aim is to acquire the ability... which will allow us to have Sheffield Wednesday - and other clubs brought to our attention if they require examination and dealt with."
Financial Struggles and Ownership Situation
Wednesday's embattled owner Dejphon Chansiri stated during the off-season he would be willing to sell up at the stadium, but he has not been able to secure a deal with prospective buyers.
Delayed salary payments on time in March and May caused limitations by the English Football League (EFL) in mid-year, preventing the club from carrying out any player acquisitions for the subsequent signing windows, although those limitations were removed in the end of the transfer window.
Official's Viewpoint
The chairman stated: "The job [of the regulator] is there for the Owls followers, teams facing challenges where fans are dedicated to a regional establishment that has existed throughout their lifetimes in many cases.
"I have absolute sympathy for the team's plight, as I do for all the clubs that in modern times have encountered failure, or been close to going to the wall, for reasons that have nothing to do with the supporters."
When asked if the regulator could force an proprietor to divest a club if they are considered unfit, Kogan said: "When asking whether 'would we intervene in the final instance?', the reply is once we assemble the facts and know what's going on, we will."
But the regulator clarified that requiring chairmen to relinquish clubs would be treated as a "last resort" and the authority would rather to collaborate with owners.
"The last thing what we want to do is start getting involved with an specific team, an specific proprietor, without having the opportunity to collaborate with that proprietor to address the issues that the club's facing and the owner's facing," the regulator explained.
"However, realistically, when you look back over the history of the game, over the last 20 or 30 years there have been particular chairmen, not many, but certain individuals who have acted carelessly in the manner they have operated their teams and eventually decline to assume obligation for the future."
Sheffield Wednesday supporters have been protesting against the team's chairman in recent months
'Errors may undo substantial development'
Kogan met with representatives from 110 clubs to lay out the remit of the oversight body this week and maintained it represented a "progressive gathering" with a "substantial involvement" from the National League to the Premier League.
"This position carries substantial significance, because should mistakes occur, if the world of football gets it wrong, the extraordinary progress that's been made might evaporate rapidly," the chairman stated.
"And that's what nobody wants in the context of the English game is a major achievement - we need to continue the progress.
"There's an enormous amount of money entering the sport and has been invested for the recent generations, because certainty is lacking it will persist in entering the game, 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
Elite division representatives objected to the formation of an authority because of apprehensions regarding adverse consequences on the top-flight's competitiveness, but the chairman responded: "I completely endorse the prosperity and expansion as an commercial operation of the elite league.
"I of all people understand the worry about compromising the Premier League as a premium product of this country. But simultaneously, if you talk to the Premier League after today's meeting, they would have had a significant degree of comfort -and, indeed, they have been telling us in private they have a significant confidence."
Ideological Links
Kogan is still facing a "thorough examination" by the official appointments authority after he acknowledged providing funds to the Labour Party in the past.
The 68-year-old contributed funds to Secretary of State for Culture, Media and Sport Lisa Nandy's leadership campaign, along with that of the current Prime Minister.
"I have fully disclosed my former ideological connection [with Labour], and that political affiliation came to an end the day the parliamentary committee confirmed my selection," the regulator explained.
"I am presently disconnected from any type of partisan engagement."
