'We are going to be a part of football's future' - independent football regulator David Kogan
The Championship club's persistent issues constitute a "major concern" and the new football authority is looking to gain the ability to look into club affairs in comparable cases, the newly appointed chairman David Kogan has announced.
In a wide-ranging interview, Kogan, who was appointed on Monday, showed understanding towards supporters of the Owls.
The regulator engaged with four fan organizations associated with the Championship side in recent days.
The team have been struggling on and off the field in the current year, with the club missing wage payments on several different times, including in the autumn.
"Evidently Wednesday represents a major concern for the league and a significant problem for football," the chairman stated.
"The club represents one of the iconic names for football in England and in recent days we have met Sheffield Wednesday supporters' groups.
"Our aim is to acquire the ability... which will allow us to have Sheffield Wednesday - and other clubs referred to us if they require examination and acted upon."
Monetary Issues and Ownership Situation
The team's struggling chairman the current owner indicated in the summer he would be open to selling the club at their home ground, but he has failed to complete a sale with potential new owners.
Missed wage deadlines on time in earlier this year caused limitations by the football authorities in June, preventing the club from carrying out any player acquisitions for the next three transfer windows, although those limitations were removed in late summer.
Regulator's Perspective
The regulator explained: "The position was created for the supporters of Wednesday, other clubs in similar situations where supporters are loyal to a regional establishment that has been part of their lives in many cases.
"I have absolute sympathy for the team's plight, as I do for all the clubs that in modern times have encountered failure, or approached financial ruin, for causes separate from the supporters."
Inquired if the oversight body could require an chairman to relinquish a club if they are considered unfit, the chairman responded: "If your question is 'would we intervene in the final instance?', the response would be once we assemble the facts and understand the situation, we will."
But Kogan stressed that compelling proprietors to divest clubs would be treated as a "last resort" and the oversight body would choose to cooperate with proprietors.
"The final option we would consider is commence engagement with an individual club, an individual owner, without being in a position to cooperate with that owner to try and resolve the challenges confronting the team and the chairman's encountering," Kogan said.
"However, realistically, when you look back over the history of the sport, over the recent generations there have been particular chairmen, not many, but particular people who have shown negligence in the manner they have operated their teams and eventually decline to assume obligation for the long-term prospects."
Wednesday followers have been protesting against owner Dejphon Chansiri during the current campaign
'If we get it wrong, extraordinary progress vanishes'
The regulator engaged delegates from multiple organizations to explain the responsibilities of the oversight body this week and insisted it was a "progressive gathering" with a "substantial involvement" from the grassroots to elite level.
"It's a job that's actually really important, because should mistakes occur, if the world of football gets it wrong, the extraordinary progress that's been made could disappear incredibly quickly," Kogan said.
"This represents everyone's worst fear in the terms of English football is a huge success story - we must maintain momentum.
"Considerable investment coming into football and has been invested for the last 20 or 25 years, because there are no assurances it will continue to come into football, which is one of the reasons why 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 creation of a regulator because of apprehensions regarding adverse consequences on the elite division's competitive balance, but the chairman responded: "I fully support the prosperity and expansion as an financial organization of the Premier League.
"As someone who appreciates the apprehension regarding damaging the Premier League as a premium product of this country. But simultaneously, if you engage with division representatives after this week's discussion, 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 "thorough examination" by the official appointments authority after he acknowledged providing funds to the political party in recent years.
The 68-year-old provided financial support for Culture Secretary the politician's campaign, along with that of the government leader.
"I have been entirely transparent regarding my former ideological connection [with Labour], and that party membership ceased the day the parliamentary committee confirmed my selection," the regulator explained.
"I currently have no participation in any sort of politics."
