'Our role is integral to football's future' - independent football regulator David Kogan
The team's ongoing struggles represent a a "serious issue" and the new football authority is seeking powers to investigate clubs in similar circumstances, its new chair the official has stated.
In a wide-ranging interview, the chairman, who was appointed on Monday, showed understanding towards the club's followers.
The regulator engaged with four supporter groups representing the South Yorkshire club recently.
The football club have been facing challenges both on and off the pitch in this season, with the club delaying salary disbursements on several different times, including in last month.
"Obviously the club has become a significant problem for EFL and a major challenge for the sport," Kogan told.
"The club represents one of the great brands for football in England and this week we have met supporters' organizations.
"Our aim is to acquire the ability... which will allow us to have Sheffield Wednesday - and other clubs submitted for our review if they require examination and acted upon."
Economic Challenges and Leadership Concerns
Wednesday's embattled owner the current owner stated during the off-season 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 March and May caused limitations by the football authorities in mid-year, stopping Wednesday from completing any recruitment activities for the following recruitment periods, although that restriction was lifted in late summer.
Authority's Position
The chairman stated: "The job [of the regulator] is there for the supporters of Wednesday, other clubs in similar situations where supporters are loyal to a community organization that has been part of their lives in many cases.
"I have absolute sympathy for the club's situation, as I do for all the clubs that over recent decades have faced collapse, or approached financial ruin, for factors unrelated to the fans themselves."
Questioned about whether the regulator could force an chairman to relinquish a club if they are judged inappropriate, Kogan said: "If your question is 'would we intervene in the final instance?', the answer is once we collect the information and comprehend the circumstances, we will."
But the chairman emphasized that compelling proprietors to divest clubs would be treated as a "last resort" and the authority would rather to cooperate with proprietors.
"The final option we would consider is begin intervening in an particular organization, an particular chairman, without being in a position to cooperate with that proprietor to address the challenges confronting the team and the proprietor's dealing with," the regulator explained.
"However, realistically, when you examine the past of the game, over the recent generations there have been some owners, not many, but certain individuals who have acted carelessly in the manner they have operated their organizations and finally don't wish to take responsibility for the future."
Sheffield Wednesday supporters have been demonstrating against the current proprietor this season
'If we get it wrong, extraordinary progress vanishes'
Kogan met with officials from numerous teams to lay out the remit of the regulator on Wednesday and stated it constituted a "forward-thinking discussion" with a "substantial involvement" from the grassroots to elite level.
"This position carries substantial significance, because if errors are made, if the football community fails, the extraordinary progress that's been made might evaporate incredibly quickly," the regulator warned.
"And that's what nobody wants in the context of the English game is a substantial accomplishment - we need to continue the progress.
"Considerable investment entering the sport and has been channeled for the last 20 or 25 years, because there are no assurances it will continue to come into football, which is part of the rationale behind I think we have to adopt a precise perspective on potential dangers and naturally, of the coming seasons."
Elite Division Worries
The Premier League opposed the formation of an authority because of concerns about detrimental effects on the Premier League's sporting equality, but the chairman responded: "I fully support the success and growth as an commercial operation of the Premier League.
"Being fully aware of the concern of undermining the Premier League as a premium product of England. But at the same time, if you consult with top flight officials after today's meeting, they would have had a substantial amount of confidence -and, in fact, they have been advising us privately they have a considerable comfort."
Partisan Associations
The regulator remains subject to a "comprehensive investigation" by the public appointments commissioner after he revealed he contributed money to the political party in recent years.
The 68-year-old donated money to Secretary of State for Culture, Media and Sport the minister's leadership bid, along with that of the current Prime Minister.
"I've been completely open about my past party membership [with Labour], and that political affiliation came to an end the day the parliamentary committee confirmed my selection," Kogan said.
"I currently have no participation in any type of partisan engagement."
