'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 "serious issue" and the football regulator is aiming to acquire authority to investigate clubs in similar circumstances, its new chair the official has stated.
In a wide-ranging interview, Kogan, 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 recently.
The team have been facing challenges both on and off the pitch in this season, with the club missing wage payments on multiple instances, including in September.
"Evidently Wednesday represents a major concern for the league and a major challenge for the sport," the chairman stated.
"Wednesday stands as one of the iconic names for football in England and this week we have met fan representatives.
"Our aim is to acquire the ability... which will permit us to bring Sheffield Wednesday - and other clubs brought to our attention if they require examination and acted upon."
Financial Struggles and Leadership Concerns
The team's struggling chairman Dejphon Chansiri suggested earlier this year he would be open to selling the club at Hillsborough, but he has failed to complete a sale with prospective buyers.
Delayed salary payments on time in earlier this year caused limitations by the English Football League (EFL) in mid-year, stopping Wednesday from completing any transfers or loans for the subsequent signing windows, although that restriction was lifted in late summer.
Official's Viewpoint
The regulator explained: "The job [of the regulator] is there for the Owls followers, other clubs in similar situations where people are committed to a local institution that has represented their community in multiple situations.
"I fully appreciate the club's situation, as I do for each organization that since 1992 have gone to the wall, or approached financial ruin, for reasons that have nothing to do with the fans themselves."
When asked if the authority might compel an proprietor to divest a club if they are deemed unsuitable, Kogan said: "When asking whether 'would we intervene in the final instance?', the response would be once we gather the evidence and know what's going on, we will."
But the regulator clarified that compelling proprietors to divest clubs would be viewed as the ultimate measure and the regulator would prefer to cooperate with proprietors.
"Our least desirable course of action is start getting involved with an specific team, an particular chairman, without having the opportunity to collaborate with that proprietor to address the challenges confronting the team and the proprietor's dealing with," Kogan said.
"However, realistically, when you look back over the history of football, over the recent generations there have been certain proprietors, few in number, but some who have been irresponsible in the way which they've been managing their organizations and finally refuse to accept accountability for the future."
Wednesday followers 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 explain the responsibilities of the regulator on Wednesday and stated it constituted a "proactive meeting" 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 errors are made, if the world of football gets it wrong, the significant advances achieved might evaporate swiftly," Kogan said.
"This represents everyone's worst fear in the realm of domestic football is a huge success story - we've got to keep it going.
"There's an enormous amount of money entering the sport and has been invested for the past two decades, because certainty is lacking it will continue to come into football, which is part of the rationale behind I think we have to adopt a precise perspective on potential dangers and naturally, of the next two or three years."
Top Flight Apprehensions
Elite division representatives objected to the creation of a regulator because of concerns about detrimental effects on the Premier League's sporting equality, but the chairman responded: "I completely endorse the achievement and development as an commercial operation of the top division.
"I of all people understand the worry about compromising the Premier League as a premium product of England. But concurrently, if you consult with top flight officials after the recent gathering, they would have had a significant degree of comfort -and, indeed, they have been telling us in private they have a considerable comfort."
Partisan Associations
Kogan is still facing a "full inquiry" by the public appointments commissioner after he revealed he contributed money to the opposition group in recent years.
The chairman donated money to Secretary of State for Culture, Media and Sport the politician's campaign, along with that of the current Prime Minister.
"I have been entirely transparent regarding my past party membership [with Labour], and that party membership ceased the day the parliamentary committee confirmed my selection," Kogan said.
"I am presently disconnected from any type of partisan engagement."
