'We will play a key role in football's future' - independent football regulator David Kogan
The Championship club's current difficulties are seen as a "major concern" and the football regulator is seeking powers to investigate clubs in comparable cases, the recently named head David Kogan has announced.
During an extensive discussion, Kogan, who was recently selected, showed understanding towards Wednesday's fanbase.
The chairman convened with four supporters' associations representing the Championship side this week.
The Championship side have been facing challenges both on and off the pitch in this season, with the club delaying salary disbursements on several different times, including in the autumn.
"Evidently Wednesday represents a significant problem for EFL and a major challenge for the sport," the chairman stated.
"The club represents one of the iconic names for English football and this week we have met fan representatives.
"We are seeking authority... which will permit us to bring Sheffield Wednesday - and other clubs referred to us if they warrant scrutiny and dealt with."
Monetary Issues and Proprietorship Status
Wednesday's embattled owner Dejphon Chansiri suggested earlier this year he would be willing to sell up at the stadium, but he has not been able to secure a deal with prospective buyers.
Delayed salary payments on time in March and May resulted in restrictions being imposed 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 the end of the transfer window.
Regulator's Perspective
The chairman stated: "The position was created for the fans of Sheffield Wednesday, Bury or any football club where fans are dedicated to a community organization that has been part of their lives in multiple situations.
"I have absolute sympathy for the club's situation, as I do for all the clubs that since 1992 have gone to the wall, or been close to going to the wall, for reasons that have nothing to do with the followers."
Questioned about whether the oversight body could require an owner to sell a club if they are considered unfit, Kogan said: "If your question is 'would we intervene in the final instance?', the reply is once we gather the evidence and know what's going on, 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 cooperate with proprietors.
"Our least desirable course of action is commence engagement with an specific team, an specific proprietor, without being in a position to cooperate with that chairman to fix the challenges confronting the team and the chairman's encountering," the regulator explained.
"In actuality, when you examine the past of football, over the recent generations there have been some owners, not many, but some who have been irresponsible 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 demonstrating against the current proprietor this season
'Mistakes could erase significant advances'
The regulator engaged representatives from 110 clubs to lay out the remit of the authority recently and insisted it was a "proactive meeting" with a "substantial involvement" from the lower divisions to the top flight.
"The role holds considerable importance, because if errors are made, if the football community fails, the significant advances achieved could disappear rapidly," the regulator warned.
"And that's what nobody wants in the realm of domestic football is a substantial accomplishment - we've got to keep it going.
"Substantial financial resources flowing into the game and has been channeled for the past two decades, because certainty is lacking it will keep flowing into the sport, which is one of the reasons why I think we have to adopt a precise perspective on challenges and obviously, of the coming seasons."
Premier League Concerns
Elite division representatives objected to the creation of a regulator because of concerns about detrimental effects on the Premier League's sporting equality, but the chairman responded: "I'm absolutely committed to the prosperity and expansion as an financial organization of the elite league.
"Being fully aware of the worry about compromising the top flight as an elite competition of England. But at the same time, if you talk to the Premier League after today's meeting, they would have had a substantial amount of confidence -and, in fact, they have been advising us privately they have a high level of reassurance."
Partisan Associations
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 68-year-old contributed funds to government minister the minister's leadership bid, along with that of the current Prime Minister.
"I have fully disclosed my former ideological connection [with Labour], and that party membership ceased the day the select committee approved my appointment," the regulator explained.
"I am presently disconnected from any sort of politics."
