'We will play a key role in football's future' - football oversight chief David Kogan
The Championship club's persistent issues constitute a "major concern" and the independent regulator is aiming to acquire authority to investigate clubs in such situations, its new chair the regulator has announced.
Through a comprehensive talk, the chairman, who was named to the position this week, voiced concern towards Wednesday's fanbase.
The chairman convened with four supporters' associations representing the Championship side this week.
The team have been facing challenges both on and off the pitch in this season, with the club missing wage payments on five separate occasions, including in September.
"Obviously the club has become a serious issue for football authorities and a major challenge for the sport," Kogan told.
"Wednesday stands as one of the great brands for football in England and in recent days we have met Sheffield Wednesday supporters' groups.
"We are seeking authority... which will permit us to bring the club and similar situations referred to us if they need to be investigated and addressed."
Financial Struggles and Ownership Situation
Wednesday's embattled owner the Thai businessman suggested earlier this year he would be open to selling the club at Hillsborough, but he has not been able to secure a deal with interested parties.
Delayed salary payments on time in earlier this year led to sanctions by the English Football League (EFL) in June, blocking the team from conducting any recruitment activities for the subsequent signing windows, although the ban was rescinded in late summer.
Regulator's Perspective
The chairman stated: "The position was created for the Owls followers, Bury or any football club where fans are dedicated to a regional establishment that has existed throughout their lifetimes in many cases.
"I completely understand the team's plight, as I do for every team that since 1992 have gone to the wall, or been close to going to the wall, for causes separate from the followers."
When asked if the regulator could force an chairman to relinquish a club if they are considered unfit, the chairman responded: "If your question is 'would we intervene in the final instance?', the response would be once we collect the information and know what's going on, we will."
But the regulator clarified that compelling proprietors to divest clubs would be viewed as the ultimate measure and the authority would rather to collaborate with owners.
"The final option we would consider is begin intervening in an individual club, an specific proprietor, without having the opportunity to collaborate with that proprietor to address the problems affecting the organization and the chairman's encountering," the chairman stated.
"However, realistically, when you look back over the history of the sport, over the recent generations there have been certain proprietors, not many, but particular people who have shown negligence in the approach they have taken toward their teams and eventually don't wish to take responsibility for the future."
Owls fans have been demonstrating against owner Dejphon Chansiri in recent months
'Mistakes could erase significant advances'
Kogan met with representatives from 110 clubs to detail the scope of the authority recently and insisted it was a "forward-thinking discussion" with a "significant participation" from the National League to the Premier League.
"This position carries substantial significance, because if errors are made, if the sport makes errors, the extraordinary progress that's been made necessary will vanish swiftly," the regulator warned.
"This represents everyone's worst fear in the realm of domestic football is a huge success story - we must maintain momentum.
"There's an enormous amount of money flowing into the game and has been invested 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 challenges and obviously, of the immediate future."
Top Flight Apprehensions
The Premier League opposed the formation of an authority because of fears of a negative impact on the elite division's competitive balance, but the regulator stated: "I completely endorse the achievement and development as an economic entity of the elite league.
"Being fully aware of the apprehension regarding damaging the Premier League as a premium product of England. But concurrently, if you consult with top flight officials after this week's discussion, they would have had a substantial amount of confidence -and, indeed, they have been informing us confidentially they have a significant confidence."
Partisan Associations
The regulator remains subject to a "thorough examination" by the public appointments commissioner after he acknowledged providing funds to the political party in the past.
The 68-year-old donated money to Culture Secretary the minister's leadership bid, along with that of the current Prime Minister.
"I have fully disclosed my previous political affiliation [with Labour], and that party membership ceased the day the official body endorsed my nomination," the regulator explained.
"I am presently disconnected from any form of political activity."
