'Our role is integral to football's future' - newly appointed regulator David Kogan
The team's ongoing struggles represent a a "serious issue" and the independent regulator is looking to gain the ability to investigate clubs in similar circumstances, the recently named head the official has stated.
During an extensive discussion, the regulator, who was named to the position this week, showed understanding towards Wednesday's fanbase.
The regulator engaged with four supporters' associations associated with the football team in recent days.
The Championship side have been facing challenges both on and off the pitch in this season, with the club delaying salary disbursements on five separate occasions, including in the autumn.
"Evidently Wednesday represents a serious issue for football authorities and a significant problem for football," the regulator explained.
"Sheffield Wednesday is one of the great brands for English football and this week we have met Sheffield Wednesday supporters' groups.
"We are seeking authority... which will permit us to bring Sheffield Wednesday - and other clubs submitted for our review if they need to be investigated and dealt with."
Financial Struggles and Ownership Situation
The club's controversial proprietor the Thai businessman indicated in the summer he would be prepared to relinquish control at Hillsborough, but he has failed to complete a sale with prospective buyers.
Delayed salary payments on time in March and May caused limitations by the English Football League (EFL) in summer, preventing the club from carrying out any recruitment activities for the next three transfer windows, although that restriction was lifted in August.
Official's Viewpoint
The chairman stated: "Our role exists to serve the Owls followers, other clubs in similar situations where supporters are loyal to a regional establishment that has been part of their lives in many cases.
"I fully appreciate Sheffield Wednesday, as I do for all the clubs that in modern times have encountered failure, or approached financial ruin, for reasons that have nothing to do with the supporters."
Inquired if the regulator could force an owner to sell a club if they are deemed unsuitable, Kogan said: "Should the inquiry concern 'would we intervene in the final instance?', the response would be 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 viewed as the ultimate measure and the oversight body would choose to cooperate with proprietors.
"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 proprietor to address the challenges confronting the team and the chairman's encountering," the regulator explained.
"But the truth is, when you look back over the history of the sport, over the last 20 or 30 years there have been certain proprietors, few in number, but particular people who have shown negligence in the way which they've been managing their organizations and finally decline to assume obligation for the long-term prospects."
Wednesday followers have been voicing opposition to the current proprietor during the current campaign
'If we get it wrong, extraordinary progress vanishes'
The chairman convened with representatives from 110 clubs to explain the responsibilities of the oversight body this week and maintained it represented a "progressive gathering" with a "substantial involvement" from the National League to the Premier League.
"This position carries substantial significance, because should mistakes occur, if the sport makes errors, the remarkable development accomplished might evaporate incredibly quickly," the chairman stated.
"Such an outcome is universally undesirable in the context of the English game is a huge success story - we need to continue the progress.
"There's an enormous amount of money coming into football and has been channeled for the recent generations, because certainty is lacking it will persist in entering the game, which is part of the rationale behind I think we have to take a really clear view on challenges and obviously, of the immediate future."
Elite Division Worries
The Premier League opposed the establishment of an oversight body because of fears of a negative impact on the top-flight's competitiveness, but Kogan said: "I fully support the achievement and development as an financial organization of the top division.
"I of all people understand the apprehension regarding damaging the top flight as an elite competition of the nation. But concurrently, if you engage with division representatives after the recent gathering, they would have had a substantial amount of confidence -and, indeed, they have been telling us in private they have a high level of reassurance."
Ideological Links
The regulator remains subject to a "comprehensive investigation" by the Commissioner for Public Appointments after he revealed he contributed money to the political party in the past.
The chairman provided financial support for Culture Secretary the politician's campaign, along with that of the government leader.
"I have been entirely transparent regarding my past party membership [with Labour], and that political affiliation came to an end the day the select committee approved my appointment," the chairman stated.
"I am no longer involved in any type of partisan engagement."
