'We will play a key role in football's future' - football oversight chief David Kogan
The Championship club's ongoing struggles represent a a "major concern" and the football regulator is aiming to acquire authority to investigate clubs in comparable cases, the newly appointed chairman the regulator has stated.
In a wide-ranging interview, the chairman, who was appointed on Monday, voiced concern towards supporters of the Owls.
Kogan met with four supporter groups connected to the football team this week.
The football club have been struggling on and off the field in this season, with the club delaying salary disbursements on several different times, including in last month.
"Clearly Sheffield Wednesday has been a major concern for the league and a significant problem for football," the regulator explained.
"The club represents one of the historic institutions for the English game and recently we have met fan representatives.
"We are seeking authority... which will permit us to bring Wednesday and comparable cases referred to us if they warrant scrutiny and dealt with."
Economic Challenges and Proprietorship Status
The team's struggling chairman the Thai businessman indicated in the summer he would be willing to sell up at the stadium, but he has been unable to finalize an agreement with interested parties.
Missed wage deadlines on time in spring months caused limitations by the English Football League (EFL) in mid-year, stopping Wednesday from completing any recruitment activities for the next three transfer windows, although those limitations were removed in late summer.
Authority's Position
The regulator explained: "The position was created for the supporters of Wednesday, other clubs in similar situations where supporters are loyal to a local institution that has been part of their lives in many cases.
"I have absolute sympathy for Sheffield Wednesday, as I do for each organization that in modern times have encountered failure, or approached financial ruin, for factors unrelated to the fans themselves."
When asked if the authority might compel an chairman to relinquish a club if they are deemed unsuitable, Kogan said: "Should the inquiry concern 'would we intervene in the final instance?', the reply is once we collect the information and understand the situation, we will."
But Kogan stressed that requiring chairmen to relinquish clubs would be considered the final option and the regulator would prefer to collaborate with owners.
"The last thing what we want to do is commence engagement with an specific team, an particular chairman, without being able to work with that chairman to fix the problems affecting the organization and the proprietor's dealing with," the regulator explained.
"In actuality, when you review the record of football, over the past few decades there have been particular chairmen, a small minority, but particular people who have shown negligence in the manner they have operated their organizations and finally decline to assume obligation for the long-term prospects."
Wednesday followers have been protesting against the current proprietor this season
'Mistakes could erase significant advances'
The chairman convened with delegates from multiple organizations to detail the scope of the regulator on Wednesday and stated it constituted a "progressive gathering" with a "high level of engagement" from the lower divisions to the top flight.
"This position carries substantial significance, 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.
"Such an outcome is universally undesirable in the context of the English game is a major achievement - we've got to keep it going.
"Considerable investment coming into football and has been invested for the last 20 or 25 years, because certainty is lacking it will keep flowing into the sport, which is one of the reasons why 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 establishment of an oversight body because of concerns about detrimental effects on the Premier League's sporting equality, but the regulator stated: "I'm absolutely committed to the prosperity and expansion as an economic entity of the Premier League.
"I of all people understand the apprehension regarding damaging the top flight as an elite competition of the nation. But at the same time, if you consult with top flight officials after this week's discussion, they would have had a substantial amount of confidence -and, indeed, they have been advising us privately they have a significant confidence."
Political Connections
The regulator remains subject to a "comprehensive investigation" by the public appointments commissioner after he disclosed making donations to the Labour Party in recent years.
The chairman contributed funds to government minister the politician's campaign, along with that of the current Prime Minister.
"I've been completely open about my previous political affiliation [with Labour], and that ideological connection terminated the day the select committee approved my appointment," the regulator explained.
"I am no longer involved in any form of political activity."
