'We are going to be a part of football's future' - independent football regulator the regulator's chair
The team's persistent issues are seen as a "serious issue" and the independent regulator is seeking powers to investigate clubs in such situations, its new chair David Kogan has stated.
In a wide-ranging interview, the regulator, who was appointed on Monday, expressed "sympathy" towards Wednesday's fanbase.
Kogan met with four supporter groups representing the Championship side recently.
The team have been facing challenges both on and off the pitch in the current year, with the club missing wage payments on several different times, including in last month.
"Obviously the club has become a significant problem for EFL and a substantial concern for English football," the regulator explained.
"Sheffield Wednesday is one of the historic institutions for football in England and recently we have met fan representatives.
"We're now looking to get powers... which will allow us to have the club and similar situations referred to us if they warrant scrutiny and acted upon."
Financial Struggles and Proprietorship Status
Wednesday's embattled owner Dejphon Chansiri suggested earlier this year he would be open to selling the club at the stadium, but he has not been able to secure a deal with potential new owners.
Failure to pay player wages on time in March and May caused limitations by the English Football League (EFL) in mid-year, stopping Wednesday from completing any player acquisitions for the next three transfer windows, although those limitations were removed in August.
Authority's Position
The regulator explained: "The job [of the regulator] is there for the Owls followers, Bury or any football club where fans are dedicated to a local institution that has existed throughout their lifetimes in numerous instances.
"I fully appreciate the club's situation, as I do for all the clubs that in modern times have encountered failure, or been close to going to the wall, for factors unrelated to the followers."
Inquired if the regulator could force an owner to sell a club if they are judged inappropriate, the regulator answered: "Should the inquiry concern 'would we intervene in the final instance?', the answer is once we collect the information and know what's going on, we will."
But Kogan stressed that forcing owners to sell 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 individual club, an particular chairman, without being able to work with that chairman to fix the challenges confronting the team and the chairman's encountering," the chairman stated.
"In actuality, when you examine the past of football, over the past few decades there have been some owners, a small minority, but some who have been irresponsible in the way which they've been managing their organizations and finally don't wish to take responsibility for the coming years."
Sheffield Wednesday supporters have been protesting against owner Dejphon Chansiri in recent months
'Errors may undo substantial development'
Kogan met with officials from numerous teams to explain the responsibilities of the oversight body this week and insisted it was a "progressive gathering" with a "significant participation" from the grassroots to elite level.
"The role holds considerable importance, because should mistakes occur, if the world of football gets it wrong, the remarkable development accomplished might evaporate rapidly," the chairman stated.
"And that's what nobody wants in the context of the English game is a major achievement - we've got to keep it going.
"There's an enormous amount of money coming into football and has been channeled for the last 20 or 25 years, because there are no assurances it will continue to come into football, which is one of the reasons why I think we have to maintain a focused outlook on potential dangers and naturally, of the coming seasons."
Elite Division Worries
Top flight officials resisted the creation of a regulator because of concerns about detrimental effects on the top-flight's competitiveness, but Kogan said: "I completely endorse the success and growth as an financial organization of the Premier League.
"As someone who appreciates the worry about compromising the Premier League as a premium product of the nation. But at the same time, if you talk to the Premier League after the recent gathering, they would have had a significant degree of comfort -and, in fact, they have been informing us confidentially they have a considerable comfort."
Political Connections
The regulator remains subject to a "full inquiry" by the public appointments commissioner after he acknowledged providing funds to the opposition group in the past.
The official provided financial support for government minister the politician's campaign, along with that of the current Prime Minister.
"I have been entirely transparent regarding my previous political affiliation [with Labour], and that political affiliation came to an end the day the parliamentary committee confirmed my selection," the chairman stated.
"I currently have no participation in any form of political activity."
