'Our role is integral to football's future' - newly appointed regulator the new chairman
The Championship club's ongoing struggles represent a a "major concern" and the football regulator is looking to gain the ability to look into club affairs in comparable cases, the recently named head David Kogan has declared.
In a wide-ranging interview, the chairman, who was named to the position this week, showed understanding 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 the current year, with the club missing wage payments on five separate occasions, including in last month.
"Obviously the club has become a significant problem for EFL and a significant problem for football," the regulator explained.
"Wednesday stands as one of the iconic names for football in England and this week we have met fan representatives.
"We are seeking authority... which will enable us to take Sheffield Wednesday - and other clubs referred to us if they need to be investigated and dealt with."
Financial Struggles and Ownership Situation
The team's struggling chairman the Thai businessman indicated in the summer he would be prepared to relinquish control at their home ground, but he has failed to complete a sale with interested parties.
Failure to pay player wages on time in March and May resulted in restrictions being imposed by the league officials in June, blocking the team from conducting any transfers or loans for the following recruitment periods, although those limitations were removed in late summer.
Authority's Position
The chairman stated: "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 fully appreciate the club's situation, as I do for all the clubs that in modern times have encountered failure, or approached financial ruin, for factors unrelated to the fans themselves."
When asked if the oversight body could require an owner to sell a club if they are considered unfit, the chairman responded: "If your question is 'would we intervene in the final instance?', the response would be once we gather the evidence and understand the situation, we will."
But the chairman emphasized that compelling proprietors to divest clubs would be treated as a "last resort" and the oversight body would choose to work with them.
"The last thing what we want to do is start getting involved with an specific team, an individual owner, without being in a position to cooperate with that proprietor to address the problems affecting the organization and the owner's facing," the regulator explained.
"But the truth is, when you examine the past of football, over the last 20 or 30 years there have been certain proprietors, a small minority, but certain individuals who have acted carelessly in the manner they have operated their teams and eventually decline to assume obligation for the long-term prospects."
Wednesday followers have been voicing opposition to the team's chairman 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 insisted it was a "forward-thinking discussion" with a "significant participation" from the grassroots to elite level.
"This position carries substantial significance, because if we get it wrong, if the sport makes errors, the extraordinary progress that's been made might evaporate incredibly quickly," the regulator warned.
"And that's what nobody wants in the terms of English football is a huge success story - we've got to keep it going.
"Considerable investment flowing into the game and has been invested for the past two decades, because there's no guarantee it will continue to come into football, which is among the factors explaining I think we have to adopt a precise perspective 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 elite division's competitive balance, but the chairman responded: "I fully support the achievement and development as an commercial operation of the Premier League.
"As someone who appreciates the concern of undermining the division as a high-quality offering of England. But simultaneously, if you engage with division representatives after this week's discussion, they would have had a significant degree of comfort -and, in fact, they have been advising us privately they have a significant confidence."
Political Connections
The chairman continues to confront a "comprehensive investigation" by the official appointments authority after he acknowledged providing funds to the political party in recent years.
The official contributed funds to government minister the politician's campaign, along with that of the current Prime Minister.
"I have been entirely transparent regarding my past party membership [with Labour], and that ideological connection terminated the day the select committee approved my appointment," Kogan said.
"I am no longer involved in any type of partisan engagement."
