'We will play a key role in football's future' - newly appointed regulator David Kogan
The team's current difficulties constitute a "significant problem" and the new football authority is aiming to acquire authority to investigate clubs in similar circumstances, its new chair the official has declared.
In a wide-ranging interview, the chairman, who was recently selected, showed understanding towards supporters of the Owls.
Kogan met with four fan organizations associated with the South Yorkshire club recently.
The Championship side have been facing challenges both on and off the pitch in the current year, with the club missing wage payments on several different times, including in last month.
"Obviously the club has become a serious issue for football authorities and a significant problem for football," the regulator explained.
"The club represents one of the iconic names for the English game and this week we have met supporters' organizations.
"We are seeking authority... which will permit us to bring Sheffield Wednesday - and other clubs submitted for our review if they warrant scrutiny and addressed."
Monetary Issues and Proprietorship Status
The team's struggling chairman the Thai businessman suggested earlier this year he would be willing to sell up at the stadium, but he has been unable to finalize an agreement with potential new owners.
Missed wage deadlines on time in spring months resulted in restrictions being imposed by the league officials in summer, stopping Wednesday from completing any recruitment activities for the subsequent signing windows, although that restriction was lifted in August.
Authority's Position
The chairman stated: "The position was created for the supporters of Wednesday, other clubs in similar situations where supporters are loyal to a community organization that has been part of their lives in multiple situations.
"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 factors unrelated to the fans themselves."
Inquired if the regulator could force an proprietor to divest a club if they are judged inappropriate, the regulator answered: "When asking whether 'would we intervene in the final instance?', the response would be once we collect the information and comprehend the circumstances, we will."
But the regulator clarified that forcing owners to sell clubs would be viewed as the ultimate measure and the authority would rather to collaborate with owners.
"Our least desirable course of action is commence engagement with an particular organization, an individual owner, without being able to work with that owner to try and resolve the challenges confronting the team and the chairman's encountering," Kogan said.
"But the truth is, when you review the record of the game, over the last 20 or 30 years there have been particular chairmen, few in number, but some who have been irresponsible in the way which they've been managing their clubs and ultimately don't wish to take responsibility for the future."
Owls fans have been protesting against the team's chairman this season
'Mistakes could erase significant advances'
Kogan met with delegates from multiple organizations to detail the scope of the regulator on Wednesday 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 significant advances achieved might evaporate swiftly," the regulator warned.
"And that's what nobody wants in the context of the English game is a major achievement - we need to continue the progress.
"Considerable investment coming into football and has come into football for the last 20 or 25 years, because there are no assurances 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 challenges and obviously, of the coming seasons."
Premier League Concerns
Elite division representatives objected to the formation of an authority because of apprehensions regarding adverse consequences on the elite division's competitive balance, but the chairman responded: "I completely endorse the prosperity and expansion as an economic entity of the elite league.
"I of all people understand the apprehension regarding damaging the Premier League as a premium product of the nation. But simultaneously, if you consult with top flight officials after today's meeting, they would have had a significant degree of comfort -and, actually, they have been telling us in private they have a high level of reassurance."
Partisan Associations
Kogan is still facing a "comprehensive investigation" by the Commissioner for Public Appointments after he disclosed making donations to the opposition group in recent years.
The 68-year-old provided financial support for government minister Lisa Nandy's leadership campaign, along with that of the government leader.
"I have been entirely transparent regarding my previous political affiliation [with Labour], and that ideological connection terminated the day the parliamentary committee confirmed my selection," the regulator explained.
"I am no longer involved in any form of political activity."
