'We will play a key role in football's future' - independent football regulator the new chairman
The team's ongoing struggles are seen as a "serious issue" and the new football authority is aiming to acquire authority to look into club affairs in such situations, its new chair David Kogan has announced.
During an extensive discussion, the regulator, who was appointed on Monday, voiced concern towards the club's followers.
The regulator engaged with four fan organizations representing the South Yorkshire club in recent days.
The team have been struggling on and off the field in this season, with the club missing wage payments on several different times, including in September.
"Obviously the club has become a significant problem for EFL and a significant problem for football," Kogan told.
"The club represents one of the iconic names for the English game and recently we have met supporters' organizations.
"We're now looking to get powers... which will permit us to bring Wednesday and comparable cases referred to us if they warrant scrutiny and acted upon."
Monetary Issues and Proprietorship Status
The team's struggling chairman the Thai businessman suggested earlier this year he would be open to selling the club at the stadium, but he has been unable to finalize an agreement with potential new owners.
Delayed salary payments on time in spring months led to sanctions by the football authorities in mid-year, stopping Wednesday from completing any recruitment activities for the following recruitment periods, although the ban was rescinded in August.
Authority's Position
The chairman stated: "The position was created for the fans of Sheffield Wednesday, teams facing challenges where fans are dedicated to a regional establishment that has existed throughout their lifetimes in numerous instances.
"I completely understand the club's situation, as I do for every team that in modern times have encountered failure, or been close to going to the wall, for reasons that have nothing to do with the fans themselves."
When asked if the authority might compel an proprietor to divest a club if they are considered unfit, the chairman responded: "Should the inquiry concern '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 Kogan stressed that forcing owners to sell clubs would be considered the final option and the oversight body would choose to cooperate with proprietors.
"The last thing what we want to do is start getting involved with an particular organization, an specific proprietor, without being able to work with that owner to try and resolve the problems affecting the organization and the chairman's encountering," the regulator explained.
"In actuality, when you examine the past of the sport, over the past few decades there have been certain proprietors, not many, but certain individuals who have acted carelessly in the way which they've been managing their teams and eventually decline to assume obligation for the coming years."
Owls fans have been demonstrating against the current proprietor this season
'Errors may undo substantial development'
The chairman convened with officials from numerous teams to detail the scope of the regulator on Wednesday and insisted it was a "progressive gathering" with a "high level of engagement" from the lower divisions to the top flight.
"This position carries substantial significance, because if errors are made, if the sport makes errors, the remarkable development accomplished could disappear rapidly," the chairman stated.
"This represents everyone's worst fear in the terms of English football is a substantial accomplishment - we've got to keep it going.
"Considerable investment coming into football and has been invested 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 challenges and obviously, of the next two or three years."
Top Flight Apprehensions
Top flight officials resisted the establishment of an oversight body because of concerns about detrimental effects on the top-flight's competitiveness, but the chairman responded: "I completely endorse the prosperity and expansion as an financial organization of the top division.
"I of all people understand the apprehension regarding damaging the Premier League as a premium product of the nation. But simultaneously, if you engage with division representatives after this week's discussion, they would have had a significant degree of comfort -and, indeed, they have been advising us privately they have a high level of reassurance."
Ideological Links
The regulator remains subject to a "thorough examination" by the public appointments commissioner after he revealed he contributed money to the Labour Party in recent years.
The official contributed funds to government minister 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 ideological connection terminated the day the official body endorsed my nomination," Kogan said.
"I am presently disconnected from any form of political activity."
