'We are going to be a part of football's future' - independent football regulator David Kogan
The team's current difficulties represent a a "serious issue" and the independent regulator is seeking powers to examine team situations in comparable cases, the recently named head the regulator has declared.
In a wide-ranging interview, the regulator, who was named to the position this week, voiced concern towards Wednesday's fanbase.
The regulator engaged with four supporter groups representing the South Yorkshire club recently.
The Championship side have been struggling on and off the field in this season, with the club delaying salary disbursements on several different times, including in September.
"Evidently Wednesday represents a major concern for the league and a substantial concern for English football," the regulator explained.
"The club represents one of the great brands for football in England and this week we have met supporters' organizations.
"We're now looking to get powers... which will allow us to have the club and similar situations brought to our attention if they need to be investigated and addressed."
Economic Challenges and Proprietorship Status
Wednesday's embattled owner Dejphon Chansiri suggested earlier this year he would be willing to sell up at the stadium, but he has not been able to secure a deal with prospective buyers.
Missed wage deadlines on time in spring months resulted in restrictions being imposed by the football authorities in June, stopping Wednesday from completing any player acquisitions for the next three transfer windows, although those limitations were removed in late summer.
Regulator's Perspective
The regulator explained: "Our role exists to serve the supporters of Wednesday, other clubs in similar situations where people are committed to a regional establishment that has represented their community in multiple situations.
"I completely understand the club's situation, as I do for all the clubs that since 1992 have gone to the wall, or approached financial ruin, for factors unrelated to the followers."
Inquired if the oversight body could require an owner to sell a club if they are deemed unsuitable, the chairman responded: "Should the inquiry concern 'would we intervene in the final instance?', the response would be once we collect the information and comprehend the circumstances, we will."
But the chairman emphasized that compelling proprietors to divest clubs would be treated as a "last resort" and the authority would rather to cooperate with proprietors.
"Our least desirable course of action is start getting involved with an specific team, an specific proprietor, without being able to work with that proprietor to address the issues that the club's facing and the chairman's encountering," Kogan said.
"In actuality, when you review the record of the game, over the past few decades there have been particular chairmen, a small minority, but certain individuals who have acted carelessly in the way which they've been managing their clubs and ultimately decline to assume obligation for the future."
Sheffield Wednesday supporters have been protesting 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 insisted it was 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 should mistakes occur, if the football community fails, the extraordinary progress that's been made might evaporate incredibly quickly," the regulator warned.
"And that's what nobody wants in the terms of English football is a huge success story - we need to continue the progress.
"There's an enormous amount of money coming into football and has been invested for the last 20 or 25 years, because there's no guarantee it will persist in entering the game, which is among the factors explaining I think we have to adopt a precise perspective on potential dangers and naturally, of the next two or three years."
Premier League Concerns
Top flight officials resisted 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 success and growth as an economic entity of the top division.
"I of all people understand the concern of undermining the division as a high-quality offering of the nation. But simultaneously, if you talk to the Premier League 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."
Ideological Links
Kogan is still facing a "full inquiry" by the official appointments authority after he revealed he contributed money to the opposition group in recent years.
The 68-year-old provided financial support for government minister the minister's leadership bid, along with that of the government leader.
"I have fully disclosed my past party membership [with Labour], and that ideological connection terminated the day the select committee approved my appointment," the chairman stated.
"I am presently disconnected from any sort of politics."
