'We will play a key role in football's future' - newly appointed regulator David Kogan
The Championship club's current difficulties are seen as a "significant problem" and the football regulator is seeking powers to investigate clubs in comparable cases, the recently named head the official has stated.
In a wide-ranging interview, Kogan, who was recently selected, expressed "sympathy" towards Wednesday's fanbase.
The chairman convened with four supporter groups representing the South Yorkshire club in recent days.
The Championship side have been experiencing difficulties in multiple areas in the current year, with the club failing to pay players on time on several different times, including in the autumn.
"Evidently Wednesday represents a significant problem for EFL and a significant problem for football," the chairman stated.
"Sheffield Wednesday is one of the iconic names for English football and recently we have met supporters' organizations.
"We are seeking authority... which will permit us to bring Wednesday and comparable cases referred to us if they warrant scrutiny and acted upon."
Monetary Issues and Leadership Concerns
The team's struggling chairman the Thai businessman suggested earlier this year he would be prepared to relinquish control at Hillsborough, but he has been unable to finalize an agreement with prospective buyers.
Delayed salary payments on time in March and May resulted in restrictions being imposed by the English Football League (EFL) in summer, blocking the team from conducting any recruitment activities for the following recruitment periods, although the ban was rescinded in late summer.
Authority's Position
The regulator explained: "The position was created for the fans of Sheffield Wednesday, Bury or any football club where fans are dedicated to a regional establishment that has existed throughout their lifetimes in numerous instances.
"I have absolute sympathy for the team's plight, as I do for every team that since 1992 have gone to the wall, or been close to going to the wall, for causes separate from the followers."
Questioned about whether the oversight body could require an chairman to relinquish a club if they are deemed unsuitable, the regulator answered: "When asking whether 'would we intervene in the final instance?', the reply is once we collect the information and know what's going on, we will."
But the chairman emphasized that compelling proprietors to divest clubs would be viewed as the ultimate measure and the oversight body would choose to work with them.
"The final option we would consider is start getting involved with an individual club, an individual owner, without having the opportunity to collaborate with that proprietor to address the challenges confronting the team and the owner's facing," Kogan said.
"In actuality, when you look back over the history of football, over the last 20 or 30 years there have been some owners, not many, but some who have been irresponsible in the approach they have taken toward their organizations and finally refuse to accept accountability for the future."
Owls fans have been demonstrating against the current proprietor in recent months
'If we get it wrong, extraordinary progress vanishes'
The chairman convened with delegates from multiple organizations to lay out the remit of the authority recently and stated it constituted a "progressive gathering" with a "high level of engagement" from the lower divisions to the top flight.
"It's a job that's actually really important, because if we get it wrong, if the world of football gets it wrong, the extraordinary progress that's been made could disappear rapidly," Kogan said.
"This represents everyone's worst fear in the context of the English game is a huge success story - we must maintain momentum.
"Considerable investment entering the sport and has been channeled for the last 20 or 25 years, because certainty is lacking it will persist in entering the game, which is among the factors explaining I think we have to take a really clear view on risk and of course, of the coming seasons."
Elite Division Worries
Top flight officials resisted the creation of a regulator because of concerns about detrimental effects on the Premier League's sporting equality, but the regulator stated: "I completely endorse the achievement and development as an economic entity of the elite league.
"I of all people understand the concern of undermining the Premier League as a premium product of England. But at the same time, if you engage with division representatives after today's meeting, they would have had a high level of reassurance -and, in fact, they have been advising us privately they have a high level of reassurance."
Ideological Links
Kogan is still facing a "comprehensive investigation" by the Commissioner for Public Appointments after he revealed he contributed money to the political party in the past.
The official provided financial support for Culture Secretary the politician's campaign, along with that of the current Prime Minister.
"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 am no longer involved in any type of partisan engagement."
