'Our role is integral to football's future' - football oversight chief David Kogan
The Championship club's ongoing struggles represent a a "serious issue" and the independent regulator is aiming to acquire authority to look into club affairs in such situations, the recently named head the official has stated.
In a wide-ranging interview, the chairman, who was named to the position this week, voiced concern towards supporters of the Owls.
The chairman convened with four fan organizations associated with the South Yorkshire club in recent days.
The team have been facing challenges both on and off the pitch in the current year, with the club failing to pay players on time on several different times, including in last month.
"Evidently Wednesday represents a major concern for the league and a significant problem for football," the regulator explained.
"Wednesday stands as one of the great brands for English football and this week we have met supporters' organizations.
"Our aim is to acquire the ability... which will allow us to have Sheffield Wednesday - and other clubs referred to us if they need to be investigated and dealt with."
Economic Challenges and Ownership Situation
The team's struggling chairman the Thai businessman suggested earlier this year he would be open to selling the club at Hillsborough, but he has not been able to secure a deal with interested parties.
Failure to pay player wages on time in spring months caused limitations by the English Football League (EFL) in mid-year, stopping Wednesday from completing any player acquisitions for the subsequent signing windows, although the ban was rescinded in August.
Authority's Position
The chairman stated: "The position was created for the Owls followers, Bury or any football club where supporters are loyal to a community organization that has represented their community in numerous instances.
"I completely understand the team's plight, as I do for all the clubs that since 1992 have gone to the wall, or approached financial ruin, for causes separate from the supporters."
When asked if the oversight body could require an chairman to relinquish a club if they are considered unfit, the regulator answered: "If your question is '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 forcing owners to sell clubs would be considered the final option and the authority would rather to work with them.
"The last thing what we want to do is start getting involved with an specific team, an particular chairman, without being able to work with that proprietor to address the problems affecting the organization and the chairman's encountering," the chairman stated.
"However, realistically, when you look back over the history of football, over the past few decades there have been certain proprietors, a small minority, but particular people who have shown negligence in the manner they have operated their organizations and finally refuse to accept accountability for the long-term prospects."
Owls fans have been demonstrating against owner Dejphon Chansiri in recent months
'Errors may undo substantial development'
Kogan met with officials from numerous teams to detail the scope of the authority recently and maintained it represented a "proactive meeting" with a "substantial involvement" from the National League to the Premier League.
"The role holds considerable importance, because if we get it wrong, if the football community fails, the remarkable development accomplished could disappear rapidly," Kogan said.
"And that's what nobody wants in the context of the English game is a huge success story - we need to continue the progress.
"Substantial financial resources entering the sport and has come into football for the past two decades, because there's no guarantee it will keep flowing into the sport, which is part of the rationale behind I think we have to take a really clear view on risk and of course, of the immediate future."
Elite Division Worries
Top flight officials resisted the creation of a regulator because of apprehensions regarding adverse consequences on the Premier League's sporting equality, but Kogan said: "I'm absolutely committed to the achievement and development as an financial organization of the top division.
"Being fully aware of the concern of undermining the division as a high-quality offering of England. But at the same time, if you consult with top flight officials 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 significant confidence."
Political Connections
Kogan is still facing a "comprehensive investigation" by the public appointments commissioner after he acknowledged providing funds to the political party in the past.
The 68-year-old donated money to Culture Secretary the minister's leadership bid, 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 regulator explained.
"I am presently disconnected from any type of partisan engagement."
