'Our role is integral to football's future' - independent football regulator David Kogan
The Championship club's persistent issues represent a a "significant problem" and the football regulator is looking to gain the ability to examine team situations in such situations, the recently named head the official has announced.
In a wide-ranging interview, Kogan, who was appointed on Monday, expressed "sympathy" towards Wednesday's fanbase.
Kogan met with four fan organizations associated with the Championship side this week.
The football club have been experiencing difficulties in multiple areas in the current year, with the club missing wage payments 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.
"Sheffield Wednesday is one of the historic institutions for football in England and in recent days we have met supporters' organizations.
"We are seeking authority... which will allow us to have Sheffield Wednesday - and other clubs submitted for our review if they need to be investigated and acted upon."
Economic Challenges and Ownership Situation
The team's struggling chairman Dejphon Chansiri indicated in the summer he would be willing to sell up at the stadium, but he has not been able to secure a deal with potential new owners.
Missed wage deadlines on time in March and May led to sanctions by the football authorities in mid-year, blocking the team from conducting any player acquisitions for the next three transfer windows, although the ban was rescinded in late summer.
Regulator's Perspective
The regulator explained: "The position was created for the Owls followers, Bury or any football club where people are committed to a local institution that has been part of their lives in numerous instances.
"I fully appreciate the team's plight, as I do for all the clubs that over recent decades have faced collapse, or nearly ceased operations, for reasons that have nothing to do with the fans themselves."
Inquired if the oversight body could require an owner to sell a club if they are judged inappropriate, the chairman responded: "Should the inquiry concern 'would we intervene in the final instance?', the answer is once we assemble the facts and know what's going on, we will."
But the regulator clarified that compelling proprietors to divest clubs would be considered the final option and the regulator would prefer to work with them.
"The final option we would consider is start getting involved with an particular organization, an particular chairman, without having the opportunity to collaborate with that owner to try and resolve the challenges confronting the team and the owner's facing," Kogan said.
"But the truth is, when you review the record of the game, over the past few decades there have been particular chairmen, few in number, but some who have been irresponsible in the way which they've been managing their teams and eventually don't wish to take responsibility for the coming years."
Owls fans have been voicing opposition to the team's chairman during the current campaign
'Errors may undo substantial development'
Kogan met with officials from numerous teams to explain the responsibilities of the authority recently and insisted it was a "proactive meeting" with a "significant participation" from the lower divisions to the top flight.
"The role holds considerable importance, because if errors are made, if the world of football gets it wrong, the extraordinary progress that's been made necessary will vanish rapidly," the regulator warned.
"This represents everyone's worst fear in the realm of domestic football is a substantial accomplishment - we must maintain momentum.
"There's an enormous amount of money entering the sport and has been channeled for the recent generations, because there are no assurances it will keep flowing into the sport, which is part of the rationale behind I think we have to take a really clear view on challenges and obviously, of the immediate future."
Elite Division Worries
The Premier League opposed the establishment of an oversight body because of apprehensions regarding adverse consequences on the Premier League's sporting equality, but the regulator stated: "I completely endorse the achievement and development as an economic entity of the Premier League.
"I of all people understand the worry about compromising the Premier League as a premium product of England. But simultaneously, if you engage with division representatives after this week's discussion, they would have had a high level of reassurance -and, in fact, they have been telling us in private they have a high level of reassurance."
Political Connections
Kogan is still facing a "thorough examination" by the public appointments commissioner after he disclosed making donations to the opposition group in the past.
The 68-year-old contributed funds to government minister Lisa Nandy's leadership campaign, along with that of the current Prime Minister.
"I have fully disclosed my past party membership [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."
