'Our role is integral to football's future' - independent football regulator David Kogan
The team's current difficulties are seen as a "significant problem" and the new football authority is looking to gain the ability to investigate clubs in such situations, the newly appointed chairman the regulator has declared.
In a wide-ranging interview, Kogan, who was appointed on Monday, expressed "sympathy" towards Wednesday's fanbase.
Kogan met with four supporter groups associated with the Championship side this week.
The team have been facing challenges both on and off the pitch in the current year, with the club missing wage payments on multiple instances, including in September.
"Evidently Wednesday represents a serious issue for football authorities and a major challenge for the sport," Kogan told.
"Wednesday stands as one of the iconic names for the English game and in recent days we have met Sheffield Wednesday supporters' groups.
"We're now looking to get powers... which will allow us to have Wednesday and comparable cases referred to us if they warrant scrutiny and acted upon."
Economic Challenges and Proprietorship Status
Wednesday's embattled owner the current owner stated during the off-season he would be open to selling the club at the stadium, but he has not been able to secure a deal with prospective buyers.
Failure to pay player wages on time in March and May led to sanctions by the league officials in mid-year, preventing the club from carrying out any recruitment activities for the next three transfer windows, although those limitations were removed in late summer.
Official's Viewpoint
Kogan said: "The position was created for the supporters of Wednesday, teams facing challenges where supporters are loyal to a regional establishment that has represented their community in many cases.
"I completely understand the club's situation, as I do for each organization that over recent decades have faced collapse, or been close to going to the wall, for reasons that have nothing to do with the fans themselves."
When asked if the oversight body could require an owner to sell a club if they are deemed unsuitable, the chairman responded: "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 compelling proprietors to divest clubs would be treated as a "last resort" and the authority would rather to cooperate with proprietors.
"The last thing what we want to do is start getting involved with an individual club, an individual owner, without being in a position to cooperate with that proprietor to address the problems affecting the organization and the chairman's encountering," the regulator explained.
"But the truth is, when you examine the past of the sport, over the past few decades there have been some owners, not many, but certain individuals who have acted carelessly in the way which they've been managing their clubs and ultimately decline to assume obligation for the coming years."
Owls fans have been demonstrating against owner Dejphon Chansiri during the current campaign
'Errors may undo substantial development'
Kogan met with representatives from 110 clubs to lay out the remit of the oversight body this week and maintained it represented a "forward-thinking discussion" with a "substantial involvement" 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 remarkable development accomplished necessary will vanish rapidly," Kogan said.
"And that's what nobody wants in the terms of English football is a major achievement - we need to continue the progress.
"There's an enormous amount of money entering the sport and has come into football for the recent generations, because there's no guarantee it will persist in entering the game, which is part of the rationale behind I think we have to maintain a focused outlook on challenges and obviously, of the immediate future."
Elite Division Worries
Elite division representatives objected to the creation of a regulator because of concerns about detrimental effects on the Premier League's sporting equality, but Kogan said: "I completely endorse the success and growth as an commercial operation of the Premier League.
"Being fully aware of the concern of undermining the top flight as an elite competition of this country. But at the same time, if you consult with top flight officials after this week's discussion, they would have had a high level of reassurance -and, indeed, they have been advising us privately they have a considerable comfort."
Political Connections
The chairman continues to confront a "comprehensive investigation" by the official appointments authority after he acknowledged providing funds to the Labour Party in 2020.
The 68-year-old contributed funds to Culture Secretary Lisa Nandy's leadership campaign, along with that of the government leader.
"I've been completely open about my previous political affiliation [with Labour], and that political affiliation came to an end the day the official body endorsed my nomination," the regulator explained.
"I am no longer involved in any type of partisan engagement."
