'Our role is integral to football's future' - independent football regulator the regulator's chair
The team's ongoing struggles represent a a "significant problem" and the football regulator is seeking powers to examine team situations in comparable cases, the recently named head David Kogan has announced.
In a wide-ranging interview, the chairman, who was named to the position this week, voiced concern towards the club's followers.
The chairman convened with four supporters' associations connected to the South Yorkshire club this week.
The team have been struggling on and off the field in the current year, with the club delaying salary disbursements on five separate occasions, including in last month.
"Evidently Wednesday represents a significant problem for EFL and a major challenge for the sport," the chairman stated.
"Sheffield Wednesday is one of the iconic names for English football and in recent days we have met supporters' organizations.
"We are seeking authority... which will permit us to bring the club and similar situations submitted for our review if they require examination and acted upon."
Monetary Issues and Proprietorship Status
Wednesday's embattled owner the Thai businessman suggested earlier this year he would be prepared to relinquish control at their home ground, but he has not been able to secure a deal with prospective buyers.
Delayed salary payments on time in earlier this year caused limitations by the English Football League (EFL) in June, preventing the club from carrying out any player acquisitions for the next three transfer windows, although the ban was rescinded in August.
Regulator's Perspective
Kogan said: "The job [of the regulator] is there for the fans of Sheffield Wednesday, teams facing challenges where supporters are loyal to a regional establishment that has been part of their lives in multiple situations.
"I completely understand Sheffield Wednesday, as I do for all the clubs that since 1992 have gone to the wall, or approached financial ruin, for reasons that have nothing to do with the supporters."
Questioned about whether the regulator could force an proprietor to divest a club if they are deemed unsuitable, the regulator answered: "When asking whether 'would we intervene in the final instance?', the answer is once we gather the evidence and comprehend the circumstances, we will."
But the chairman emphasized that forcing owners to sell clubs would be viewed as the ultimate measure and the regulator would prefer to collaborate with owners.
"The final option we would consider is begin intervening in an particular organization, an particular chairman, without being in a position to cooperate with that chairman to fix the challenges confronting the team and the proprietor's dealing with," Kogan said.
"In actuality, when you look back over the history of the sport, over the past few decades there have been particular chairmen, few in number, but particular people who have shown negligence in the way which they've been managing their clubs and ultimately decline to assume obligation for the long-term prospects."
Owls fans have been protesting against the team's chairman during the current campaign
'Errors may undo substantial development'
The regulator engaged officials from numerous teams to lay out the remit of the authority recently and stated it constituted a "proactive meeting" with a "high level of engagement" from the National League to the Premier League.
"This position carries substantial significance, because if errors are made, if the world of football gets it wrong, the extraordinary progress that's been made could disappear swiftly," the regulator warned.
"And that's what nobody wants in the realm of domestic football is a huge success story - we've got to keep it going.
"There's an enormous amount of money entering the sport and has been channeled for the recent generations, because there's no guarantee it will continue to come into football, which is part of the rationale behind I think we have to maintain a focused outlook on potential dangers and naturally, of the coming seasons."
Premier League Concerns
Top flight officials resisted the formation of an authority because of fears of a negative impact on the elite division's competitive balance, but Kogan said: "I completely endorse the success and growth as an commercial operation of the Premier League.
"Being fully aware of the concern of undermining the top flight as an elite competition of England. But simultaneously, if you consult with top flight officials after today's meeting, they would have had a high level of reassurance -and, in fact, they have been informing us confidentially they have a significant confidence."
Political Connections
The regulator remains subject to a "comprehensive investigation" by the official appointments authority after he revealed he contributed money to the Labour Party in the past.
The official contributed funds to government minister the minister's leadership bid, along with that of the government leader.
"I have been entirely transparent regarding my former ideological connection [with Labour], and that ideological connection terminated the day the official body endorsed my nomination," Kogan said.
"I currently have no participation in any sort of politics."
