'Our role is integral to football's future' - independent football regulator David Kogan
The team's current difficulties are seen as a "significant problem" and the independent regulator is aiming to acquire authority to look into club affairs in such situations, the recently named head the regulator has declared.
In a wide-ranging interview, Kogan, who was recently selected, voiced concern towards the club's followers.
Kogan met with four supporters' associations representing the South Yorkshire club in recent days.
The football club have been experiencing difficulties in multiple areas in the current year, with the club missing wage payments on five separate occasions, including in last month.
"Obviously the club has become a serious issue for football authorities and a substantial concern for English football," the chairman stated.
"Wednesday stands as one of the great brands for English football and recently we have met Sheffield Wednesday supporters' groups.
"We're now looking to get powers... which will permit us to bring the club and similar situations referred to us if they warrant scrutiny and dealt with."
Economic Challenges and Proprietorship Status
The club's controversial proprietor 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.
Delayed salary payments on time in March and May caused limitations by the English Football League (EFL) in mid-year, blocking the team from conducting any player acquisitions for the subsequent signing windows, although that restriction was lifted in August.
Official's Viewpoint
The regulator explained: "The position was created for the Owls followers, teams facing challenges where people are committed to a community organization that has been part of their lives in many cases.
"I completely understand Sheffield Wednesday, as I do for every team that over recent decades have faced collapse, or nearly ceased operations, for reasons that have nothing to do with the fans themselves."
Inquired if the regulator could force an owner to sell a club if they are considered unfit, the regulator answered: "When asking whether 'would we intervene in the final instance?', the answer is 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 regulator would prefer to collaborate with owners.
"The final option we would consider is begin intervening in an specific team, an specific proprietor, without having the opportunity to collaborate with that proprietor to address the challenges confronting the team and the chairman's encountering," the regulator explained.
"However, realistically, when you look back over the history of the sport, over the last 20 or 30 years there have been certain proprietors, not many, but certain individuals who have acted carelessly in the way which they've been managing their clubs and ultimately don't wish to take responsibility for the long-term prospects."
Sheffield Wednesday supporters have been demonstrating against owner Dejphon Chansiri in recent months
'Mistakes could erase significant advances'
Kogan met with officials from numerous teams to explain the responsibilities of the oversight body this week and insisted it was a "proactive meeting" with a "high level of engagement" from the National League to the Premier League.
"It's a job that's actually really important, because should mistakes occur, if the football community fails, the remarkable development accomplished necessary will vanish incredibly quickly," Kogan said.
"Such an outcome is universally undesirable in the terms of English football is a huge success story - we need to continue the progress.
"Substantial financial resources flowing into the game and has been invested for the last 20 or 25 years, because there are no assurances it will keep flowing into the sport, which is among the factors explaining I think we have to maintain a focused outlook on challenges and obviously, of the immediate future."
Elite Division Worries
Elite division representatives objected to the formation of an authority because of fears of a negative impact on the elite division's competitive balance, but Kogan said: "I fully support the success and growth as an economic entity of the Premier League.
"As someone who appreciates the apprehension regarding damaging the top flight as an elite competition of England. But concurrently, if you talk to the Premier League after today's meeting, they would have had a significant degree of comfort -and, in fact, they have been telling us in private they have a high level of reassurance."
Political Connections
The regulator remains subject to a "thorough examination" by the public appointments commissioner after he disclosed making donations to the Labour Party in the past.
The 68-year-old provided financial support for Secretary of State for Culture, Media and Sport 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 political affiliation came to an end the day the select committee approved my appointment," the regulator explained.
"I am no longer involved in any type of partisan engagement."
