'We will play a key role in football's future' - football oversight chief the new chairman
The team's current difficulties constitute a "major concern" and the independent regulator is aiming to acquire authority to examine team situations in comparable cases, the newly appointed chairman David Kogan has declared.
During an extensive discussion, the chairman, who was recently selected, expressed "sympathy" towards Wednesday's fanbase.
The chairman convened with four supporters' associations representing the Championship side in recent days.
The football club have been struggling on and off the field in this season, with the club failing to pay players on time on five separate occasions, including in September.
"Clearly Sheffield Wednesday has been a serious issue for football authorities and a significant problem for football," the regulator explained.
"Sheffield Wednesday is one of the historic institutions for the English game and recently we have met fan representatives.
"Our aim is to acquire the ability... which will permit us to bring Sheffield Wednesday - and other clubs submitted for our review if they warrant scrutiny and dealt with."
Monetary Issues and Proprietorship Status
The team's struggling chairman the Thai businessman stated during the off-season he would be prepared to relinquish control at their home ground, but he has failed to complete a sale with potential new owners.
Failure to pay player wages on time in earlier this year resulted in restrictions being imposed by the English Football League (EFL) in mid-year, stopping Wednesday from completing any recruitment activities for the following recruitment periods, although those limitations were removed in the end of the transfer window.
Official's Viewpoint
Kogan said: "Our role exists to serve the Owls followers, other clubs in similar situations where fans are dedicated to a community organization that has been part of their lives in many cases.
"I have absolute sympathy for the club's situation, as I do for all the clubs that in modern times have encountered failure, or approached financial ruin, for causes separate from the followers."
Questioned about whether the regulator could force an proprietor to divest a club if they are considered unfit, the chairman responded: "When asking whether 'would we intervene in the final instance?', the reply is once we gather the evidence and know what's going on, we will."
But the regulator clarified that requiring chairmen to relinquish clubs would be considered the final option and the authority would rather to work with them.
"Our least desirable course of action is commence engagement with an individual club, an individual owner, without having the opportunity to collaborate with that proprietor to address the problems affecting the organization and the chairman's encountering," the chairman stated.
"In actuality, when you examine the past of the game, over the past few decades there have been some owners, a small minority, but particular people who have shown negligence in the manner they have operated their clubs and ultimately don't wish to take responsibility for the long-term prospects."
Sheffield Wednesday supporters have been voicing opposition to the team's chairman in recent months
'If we get it wrong, extraordinary progress vanishes'
Kogan met with officials from numerous teams to explain the responsibilities of the oversight body this week and maintained it represented a "progressive gathering" with a "substantial involvement" from the lower divisions to the top flight.
"The role holds considerable importance, because if we get it wrong, if the sport makes errors, the significant advances achieved could disappear swiftly," the chairman stated.
"And that's what nobody wants in the terms of English football is a substantial accomplishment - we've got to keep it going.
"Considerable investment coming into football and has been invested for the recent generations, because certainty is lacking it will keep flowing into the sport, which is among the factors explaining I think we have to take a really clear view on risk and of course, of the next two or three years."
Premier League Concerns
The Premier League opposed the creation of a regulator because of fears of a negative impact on the Premier League's sporting equality, but the chairman responded: "I'm absolutely committed to the achievement and development as an economic entity of the elite league.
"I of all people understand the worry about compromising the Premier League as a premium product of this country. But simultaneously, if you engage with division representatives after the recent gathering, they would have had a high level of reassurance -and, indeed, they have been advising us privately they have a considerable comfort."
Partisan Associations
Kogan is still facing a "full inquiry" by the official appointments authority after he disclosed making donations to the political party in the past.
The 68-year-old contributed funds to government minister the politician's campaign, along with that of the current Prime Minister.
"I have been entirely transparent regarding my former ideological connection [with Labour], and that party membership ceased the day the select committee approved my appointment," the regulator explained.
"I am presently disconnected from any sort of politics."
