'We are going to be a part of football's future' - independent football regulator David Kogan
The Championship club's ongoing struggles represent a a "major concern" and the new football authority is aiming to acquire authority to investigate clubs in comparable cases, the recently named head the regulator has stated.
During an extensive discussion, Kogan, who was appointed on Monday, showed understanding towards the club's followers.
The regulator engaged with four supporters' associations associated with the Championship side this week.
The Championship side have been facing challenges both on and off the pitch in the current year, with the club failing to pay players on time on five separate occasions, including in last month.
"Evidently Wednesday represents a serious issue for football authorities and a major challenge for the sport," the regulator explained.
"The club represents one of the great brands for the English game and recently we have met Sheffield Wednesday supporters' groups.
"We are seeking authority... which will permit us to bring the club and similar situations brought to our attention if they warrant scrutiny and addressed."
Financial Struggles and Leadership Concerns
The club's controversial proprietor Dejphon Chansiri stated during the off-season he would be prepared to relinquish control at their home ground, but he has not been able to secure a deal with prospective buyers.
Failure to pay player wages on time in spring months caused limitations by the football authorities in mid-year, preventing the club from carrying out any recruitment activities for the following recruitment periods, although that restriction was lifted in August.
Authority's Position
Kogan said: "The job [of the regulator] is there for the supporters of Wednesday, Bury or any football club where fans are dedicated 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 approached financial ruin, for factors unrelated to the followers."
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 gather the evidence and know what's going on, we will."
But the regulator clarified that requiring chairmen to relinquish clubs would be viewed as the ultimate measure and the authority would rather to cooperate with proprietors.
"The final option we would consider is start getting involved with an specific team, an particular chairman, without being able to work with that proprietor to address the problems affecting the organization and the chairman's encountering," the chairman stated.
"In actuality, when you review the record of the sport, over the past few decades there have been certain proprietors, not many, but some who have been irresponsible in the manner they have operated their organizations and finally decline to assume obligation for the long-term prospects."
Wednesday followers have been demonstrating against the team's chairman in recent months
'Mistakes could erase significant advances'
The regulator engaged delegates from multiple organizations to explain the responsibilities of the oversight body this week and stated it constituted a "proactive meeting" with a "high level of engagement" from the National League to the Premier League.
"This position carries substantial significance, because if errors are made, if the world of football gets it wrong, the extraordinary progress that's been made could disappear swiftly," the regulator warned.
"This represents everyone's worst fear in the realm of domestic football is a major achievement - we need to continue the progress.
"Substantial financial resources flowing into the game and has been channeled for the past two decades, because there are no assurances it will keep flowing into the sport, which is one of the reasons why I think we have to take a really clear view on risk and of course, of the immediate future."
Top Flight Apprehensions
Elite division representatives objected to the establishment of an oversight body because of apprehensions regarding adverse consequences on the Premier League's sporting equality, but the chairman responded: "I completely endorse the achievement and development as an financial organization of the Premier League.
"Being fully aware of the apprehension regarding damaging the Premier League as a premium product of this country. 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 high level of reassurance."
Ideological Links
Kogan is still facing a "full inquiry" by the official appointments authority after he disclosed making donations to the political party in the past.
The official provided financial support for government minister Lisa Nandy's leadership campaign, along with that of the government leader.
"I have been entirely transparent regarding my former ideological connection [with Labour], and that party membership ceased the day the select committee approved my appointment," Kogan said.
"I currently have no participation in any type of partisan engagement."
