'We are going to be a part of football's future' - football oversight chief David Kogan
The team's current difficulties constitute a "serious issue" 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 appointed on Monday, showed understanding towards supporters of the Owls.
The regulator engaged with four fan organizations connected to 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 the autumn.
"Evidently Wednesday represents a serious issue for football authorities and a significant problem for football," the chairman stated.
"The club represents one of the great brands for the English game and recently we have met supporters' organizations.
"Our aim is to acquire the ability... which will permit us to bring the club and similar situations referred to us if they need to be investigated and addressed."
Economic Challenges and Proprietorship Status
The team's struggling chairman Dejphon Chansiri indicated in the summer he would be open to selling the club at Hillsborough, but he has been unable to finalize an agreement with interested parties.
Missed wage deadlines on time in earlier this year caused limitations by the English Football League (EFL) in summer, stopping Wednesday from completing any player acquisitions for the next three transfer windows, although those limitations were removed in late summer.
Authority's Position
The chairman stated: "The job [of the regulator] is there for the Owls followers, Bury or any football club where supporters are loyal to a community organization that has existed throughout their lifetimes in multiple situations.
"I fully appreciate Sheffield Wednesday, as I do for each organization that since 1992 have gone to the wall, or nearly ceased operations, for causes separate from the supporters."
When asked if the authority might compel an owner to sell a club if they are considered unfit, the chairman responded: "Should the inquiry concern 'would we intervene in the final instance?', the answer is once we collect the information and comprehend the circumstances, we will."
But Kogan stressed that forcing owners to sell 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 individual club, an individual owner, without having the opportunity to collaborate with that owner to try and resolve the issues that the club's facing and the proprietor's dealing with," Kogan said.
"However, realistically, when you examine the past of the sport, over the past few decades there have been some owners, 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 coming years."
Owls fans have been demonstrating against owner Dejphon Chansiri during the current campaign
'Errors may undo substantial development'
Kogan met with officials from numerous teams to lay out the remit of the regulator on Wednesday and stated it constituted a "proactive meeting" with a "substantial involvement" from the National League to the Premier League.
"It's a job that's actually really important, because should mistakes occur, if the world of football gets it wrong, the significant advances achieved could disappear incredibly quickly," the chairman stated.
"Such an outcome is universally undesirable in the context of the English game is a huge success story - we need to continue the progress.
"Substantial financial resources coming into football and has come into football for the past two decades, because certainty is lacking 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 next two or three years."
Premier League Concerns
Elite division representatives objected to the creation of a regulator because of apprehensions regarding adverse consequences on the Premier League's sporting equality, but the chairman responded: "I fully support the achievement and development as an economic entity of the elite league.
"Being fully aware of the apprehension regarding damaging the division as a high-quality offering of the nation. But simultaneously, 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 advising us privately they have a considerable comfort."
Political Connections
The regulator remains subject to a "full inquiry" by the Commissioner for Public Appointments after he revealed he contributed money to the political party in recent years.
The chairman donated money to government minister Lisa Nandy's leadership campaign, along with that of the current Prime Minister.
"I've been completely open about my previous political affiliation [with Labour], and that ideological connection terminated the day the parliamentary committee confirmed my selection," the chairman stated.
"I currently have no participation in any sort of politics."
