'We will play a key role in football's future' - newly appointed regulator David Kogan
The team's current difficulties are seen as a "serious issue" and the football regulator is seeking powers to investigate clubs in such situations, the recently named head the regulator has declared.
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 in recent days.
The team have been experiencing difficulties in multiple areas in this season, with the club failing to pay players on time on several different times, including in the autumn.
"Evidently Wednesday represents a major concern for the league and a significant problem for football," the regulator explained.
"Sheffield Wednesday is one of the great brands for football in England and this week we have met Sheffield Wednesday supporters' groups.
"Our aim is to acquire the ability... which will allow us to have Wednesday and comparable cases submitted for our review if they warrant scrutiny and dealt with."
Financial Struggles and Ownership Situation
The club's controversial proprietor the Thai businessman suggested earlier this year he would be open to selling the club at their home ground, but he has failed to complete a sale with interested parties.
Missed wage deadlines on time in spring months caused limitations by the football authorities in summer, blocking the team from conducting any player acquisitions for the following recruitment periods, although the ban was rescinded in late summer.
Authority's Position
Kogan said: "The position was created for the Owls followers, other clubs in similar situations where people are committed to a community organization that has existed throughout their lifetimes in numerous instances.
"I have absolute sympathy for the club's situation, as I do for every team that since 1992 have gone to the wall, or been close to going to the wall, for causes separate from the fans themselves."
Questioned about whether the regulator could force an chairman to relinquish a club if they are judged inappropriate, the regulator answered: "If your question is 'would we intervene in the final instance?', the response would be once we assemble the facts and know what's going on, we will."
But the regulator clarified that compelling proprietors to divest clubs would be considered the final option and the authority would rather to cooperate with proprietors.
"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 issues that the club's facing and the owner's facing," Kogan said.
"But the truth is, when you look back over the history of football, over the last 20 or 30 years there have been some owners, a small minority, but some who have been irresponsible in the manner they have operated their organizations and finally refuse to accept accountability for the coming years."
Owls fans have been demonstrating against the current proprietor during the current campaign
'Errors may undo substantial development'
Kogan met with representatives from 110 clubs to detail the scope of the regulator on Wednesday and stated it constituted a "proactive meeting" with a "significant participation" from the National League to the Premier League.
"The role holds considerable importance, 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 terms of English football is a huge success story - we need to continue the progress.
"There's an enormous amount of money entering the sport and has been invested for the past two decades, because there are no assurances it will continue to come into football, which is part of the rationale behind I think we have to adopt a precise perspective on risk and of course, of the immediate future."
Premier League Concerns
Top flight officials resisted the establishment of an oversight body because of fears of a negative impact on the elite division's competitive balance, but the regulator stated: "I fully support the prosperity and expansion as an economic entity of the top division.
"I of all people understand the worry about compromising the Premier League as a premium product of this country. But simultaneously, if you consult with top flight officials 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 considerable comfort."
Partisan Associations
Kogan is still facing a "full inquiry" by the public appointments commissioner after he revealed he contributed money to the political party in recent years.
The 68-year-old contributed funds to government minister the minister's leadership bid, along with that of the government leader.
"I have fully disclosed my previous political affiliation [with Labour], and that party membership ceased the day the official body endorsed my nomination," the chairman stated.
"I currently have no participation in any sort of politics."
