'Our role is integral to football's future' - independent football regulator the regulator's chair
The Championship club's persistent issues are seen as a "significant problem" and the new football authority is looking to gain the ability to look into club affairs in similar circumstances, the recently named head David Kogan has declared.
In a wide-ranging interview, Kogan, who was recently selected, expressed "sympathy" towards supporters of the Owls.
The regulator engaged with four supporters' associations connected to the Championship side in recent days.
The team have been facing challenges both on and off the pitch in this season, with the club failing to pay players on time on several different times, including in the autumn.
"Evidently Wednesday represents a serious issue for football authorities and a substantial concern for English football," Kogan told.
"Wednesday stands as one of the iconic names for English football and this week we have met Sheffield Wednesday supporters' groups.
"We are seeking authority... which will enable us to take Wednesday and comparable cases submitted for our review if they warrant scrutiny and dealt with."
Monetary Issues and Proprietorship Status
Wednesday's embattled owner the Thai businessman indicated in the summer he would be willing to sell up at Hillsborough, but he has not been able to secure a deal with potential new owners.
Missed wage deadlines on time in earlier this year resulted in restrictions being imposed by the English Football League (EFL) in June, stopping Wednesday from completing any transfers or loans for the following recruitment periods, although those limitations were removed in August.
Regulator's Perspective
The chairman stated: "The position was created for the Owls followers, teams facing challenges where supporters are loyal to a local institution that has existed throughout their lifetimes in many cases.
"I fully appreciate the team's plight, as I do for each organization that in modern times have encountered failure, or approached financial ruin, for factors unrelated to the fans themselves."
Questioned about whether the authority might compel an proprietor to divest a club if they are considered unfit, Kogan said: "When asking whether 'would we intervene in the final instance?', the answer is once we assemble the facts and comprehend the circumstances, we will."
But the regulator clarified 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 specific team, an particular chairman, without being in a position to cooperate with that chairman to fix the problems affecting the organization and the chairman's encountering," Kogan said.
"In actuality, when you look back over the history of the game, over the recent generations there have been certain proprietors, a small minority, but some who have been irresponsible in the way which they've been managing their clubs and ultimately refuse to accept accountability for the future."
Owls fans have been protesting against owner Dejphon Chansiri during the current campaign
'Mistakes could erase significant advances'
The chairman convened with delegates from multiple organizations to explain the responsibilities of the regulator on Wednesday and maintained it represented a "proactive meeting" with a "significant participation" from the lower divisions to the top flight.
"This position carries substantial significance, because if we get it wrong, if the sport makes errors, the significant advances achieved could disappear incredibly quickly," the chairman stated.
"This represents everyone's worst fear in the terms of English football is a substantial accomplishment - we must maintain momentum.
"Considerable investment flowing into the game and has come into football for the last 20 or 25 years, because certainty is lacking it will continue to come into football, which is among the factors explaining I think we have to maintain a focused outlook on challenges and obviously, of the coming seasons."
Elite Division Worries
The Premier League opposed the creation of a regulator because of concerns about detrimental effects on the elite division's competitive balance, but the chairman responded: "I completely endorse the achievement and development as an economic entity of the elite league.
"Being fully aware of the concern of undermining the Premier League as a premium product of the nation. But concurrently, if you talk to the Premier League after this week's discussion, they would have had a substantial amount of confidence -and, in fact, they have been telling us in private they have a considerable comfort."
Ideological Links
Kogan is still facing a "comprehensive investigation" by the public appointments commissioner after he disclosed making donations to the Labour Party in the past.
The 68-year-old donated money to Secretary of State for Culture, Media and Sport the minister's leadership bid, along with that of the now Prime Minister Sir Keir Starmer.
"I have been entirely transparent regarding my previous political affiliation [with Labour], and that ideological connection terminated the day the select committee approved my appointment," Kogan said.
"I am no longer involved in any form of political activity."
