'We are going to be a part of football's future' - independent football regulator David Kogan
The team's ongoing struggles represent a a "serious issue" and the new football authority is looking to gain the ability to look into club affairs in similar circumstances, the newly appointed chairman the official has declared.
During an extensive discussion, Kogan, who was appointed on Monday, showed understanding towards Wednesday's fanbase.
The regulator engaged with four supporters' associations associated with the football team in recent days.
The team have been struggling on and off the field in this season, with the club delaying salary disbursements on five separate occasions, including in last month.
"Evidently Wednesday represents a serious issue for football authorities and a substantial concern for English football," the chairman stated.
"Wednesday stands as one of the great brands for football in England and recently we have met fan representatives.
"We're now looking to get powers... which will permit us to bring Wednesday and comparable cases brought to our attention if they warrant scrutiny and dealt with."
Financial Struggles and Ownership Situation
The club's controversial proprietor the Thai businessman suggested earlier this year he would be open to selling the club at their home ground, but he has been unable to finalize an agreement with interested parties.
Delayed salary payments on time in March and May caused limitations by the league officials in June, preventing the club from carrying out any player acquisitions for the subsequent signing windows, although that restriction was lifted in late summer.
Authority's Position
Kogan said: "The position was created for the fans of Sheffield Wednesday, Bury or any football club where supporters are loyal to a local institution that has existed throughout their lifetimes in multiple situations.
"I completely understand Sheffield Wednesday, as I do for each organization that since 1992 have gone to the wall, or nearly ceased operations, for causes separate from the fans themselves."
When asked if the oversight body could require an owner to sell a club if they are judged inappropriate, Kogan said: "Should the inquiry concern 'would we intervene in the final instance?', the answer is once we collect the information and comprehend the circumstances, we will."
But the regulator clarified that requiring chairmen to relinquish clubs would be viewed as the ultimate measure and the regulator would prefer to collaborate with owners.
"The final option we would consider is commence engagement with an particular organization, an individual owner, without having the opportunity to collaborate with that chairman to fix the issues that the club's facing and the chairman's encountering," Kogan said.
"However, realistically, when you look back over the history of the game, over the past few decades there have been certain proprietors, few in number, but some who have been irresponsible in the way which they've been managing their organizations and finally refuse to accept accountability for the long-term prospects."
Sheffield Wednesday supporters have been voicing opposition to the team's chairman during the current campaign
'If we get it wrong, extraordinary progress vanishes'
The regulator engaged representatives from 110 clubs to lay out the remit of the authority recently and stated it constituted a "forward-thinking discussion" with a "high level of engagement" from the grassroots to elite level.
"This position carries substantial significance, because if errors are made, if the world of football gets it wrong, the significant advances achieved might evaporate incredibly quickly," the regulator warned.
"Such an outcome is universally undesirable 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 flowing into the game and has come into football for the last 20 or 25 years, because there are no assurances it will keep flowing into the sport, which is one of the reasons why I think we have to adopt a precise perspective on risk and of course, of the next two or three years."
Top Flight Apprehensions
Elite division representatives objected to the creation of a regulator 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 commercial operation of the Premier League.
"Being fully aware of the worry about compromising the division as a high-quality offering of England. But simultaneously, if you engage with division representatives after today's meeting, they would have had a high level of reassurance -and, in fact, they have been advising us privately they have a high level of reassurance."
Ideological Links
The regulator remains subject to a "thorough examination" by the official appointments authority after he revealed he contributed money to the opposition group in the past.
The official provided financial support for Culture Secretary the minister's leadership bid, along with that of the current Prime Minister.
"I have been entirely transparent regarding my former ideological connection [with Labour], and that ideological connection terminated the day the parliamentary committee confirmed my selection," the chairman stated.
"I currently have no participation in any sort of politics."
