'Our role is integral to football's future' - football oversight chief David Kogan
The team's current difficulties represent a a "serious issue" and the football regulator is seeking powers to investigate clubs in such situations, the recently named head the official has announced.
During an extensive discussion, the chairman, who was appointed on Monday, expressed "sympathy" towards Wednesday's fanbase.
Kogan met with four fan organizations associated with the football team in recent days.
The Championship side have been struggling on and off the field in this season, with the club missing wage payments on several different times, including in last month.
"Clearly Sheffield Wednesday has been a major concern for the league and a major challenge for the sport," the regulator explained.
"The club represents one of the iconic names for the English game and this week we have met fan representatives.
"We are seeking authority... which will allow us to have the club and similar situations referred to us if they warrant scrutiny and addressed."
Economic Challenges and Leadership Concerns
The team's struggling chairman Dejphon Chansiri 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 caused limitations by the English Football League (EFL) in June, blocking the team from conducting any transfers or loans for the next three transfer windows, although the ban was rescinded in late summer.
Authority's Position
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 represented their community in many cases.
"I completely understand the team's plight, as I do for every team that in modern times have encountered failure, or nearly ceased operations, for reasons that have nothing to do with the supporters."
Questioned about whether the authority might compel an chairman to relinquish a club if they are considered unfit, the regulator answered: "When asking whether 'would we intervene in the final instance?', the reply is once we assemble the facts and understand the situation, we will."
But Kogan stressed that compelling proprietors to divest clubs would be considered the final option and the authority would rather to collaborate with owners.
"Our least desirable course of action is start getting involved with an particular organization, an specific proprietor, without having the opportunity to collaborate with that proprietor to address the problems affecting the organization and the proprietor's dealing with," the regulator explained.
"However, realistically, when you review the record of football, over the last 20 or 30 years there have been particular chairmen, not many, but some who have been irresponsible in the way which they've been managing their organizations and finally don't wish to take responsibility for the future."
Owls fans have been protesting against the current proprietor this season
'Mistakes could erase significant advances'
The chairman convened with officials from numerous teams to lay out the remit of the authority recently and maintained it represented a "forward-thinking discussion" with a "high level of engagement" from the lower divisions to the top flight.
"The role holds considerable importance, because if we get it wrong, if the football community fails, the significant advances achieved necessary will vanish incredibly quickly," the chairman stated.
"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 coming into football and has been channeled for the last 20 or 25 years, because there's no guarantee it will keep flowing into the sport, which is part of the rationale behind I think we have to maintain a focused outlook on risk and of course, of the coming seasons."
Premier League Concerns
The Premier League opposed the creation of a regulator because of apprehensions regarding adverse consequences on the top-flight's competitiveness, but the chairman responded: "I'm absolutely committed to the achievement and development as an economic entity of the Premier League.
"Being fully aware of the apprehension regarding damaging the Premier League as a premium product of England. But at the same time, if you engage with division representatives after the recent gathering, they would have had a substantial amount of confidence -and, in fact, they have been telling us in private they have a high level of reassurance."
Partisan Associations
The regulator remains subject to a "thorough examination" by the Commissioner for Public Appointments after he acknowledged providing funds to the Labour Party in 2020.
The chairman provided financial support for Culture Secretary Lisa Nandy's leadership campaign, along with that of the now Prime Minister Sir Keir Starmer.
"I've been completely open about my previous political affiliation [with Labour], and that political affiliation came to an end the day the official body endorsed my nomination," the regulator explained.
"I am presently disconnected from any sort of politics."
