'Our role is integral to 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 looking to gain the ability to investigate clubs in such situations, the newly appointed chairman the official has announced.
In a wide-ranging interview, the chairman, who was appointed on Monday, voiced concern towards the club's followers.
The regulator engaged with four fan organizations 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 missing wage payments on multiple instances, including in last month.
"Clearly Sheffield Wednesday has been a significant problem for EFL and a major challenge for the sport," the regulator explained.
"Wednesday stands as one of the great brands for English football and recently we have met supporters' organizations.
"Our aim is to acquire the ability... which will enable us to take the club and similar situations referred to us if they require examination and acted upon."
Financial Struggles and Leadership Concerns
Wednesday's embattled owner Dejphon Chansiri suggested earlier this year he would be prepared to relinquish control at Hillsborough, but he has been unable to finalize an agreement with potential new owners.
Delayed salary payments on time in March and May caused limitations by the football authorities in mid-year, blocking the team from conducting any transfers or loans for the subsequent signing windows, although those limitations were removed in August.
Official's Viewpoint
The regulator explained: "The position was created for the Owls followers, other clubs in similar situations where people are committed to a community organization that has existed throughout their lifetimes in many cases.
"I fully appreciate Sheffield Wednesday, as I do for all the clubs that in modern times have encountered failure, or nearly ceased operations, for causes separate from the supporters."
Inquired if the authority might compel an owner to sell a club if they are deemed unsuitable, the chairman responded: "When asking whether 'would we intervene in the final instance?', the reply is once we collect the information and know what's going on, we will."
But the chairman emphasized that compelling proprietors to divest clubs would be considered the final option and the authority would rather to cooperate with proprietors.
"Our least desirable course of action is start getting involved with an specific team, an individual owner, without having the opportunity to collaborate with that chairman to fix the problems affecting the organization and the owner's facing," the regulator explained.
"But the truth is, when you look back over the history of football, over the recent generations there have been particular chairmen, not many, but some who have been irresponsible in the way which they've been managing their clubs and ultimately refuse to accept accountability for the long-term prospects."
Owls fans have been protesting against the team's chairman in recent months
'Errors may undo substantial development'
The regulator engaged representatives from 110 clubs to lay out the remit of the regulator on Wednesday and stated it constituted a "proactive meeting" with a "high level of engagement" from the lower divisions to the top flight.
"This position carries substantial significance, because should mistakes occur, if the world of football gets it wrong, the remarkable development accomplished could disappear incredibly quickly," the chairman stated.
"Such an outcome is universally undesirable in the terms of English football is a substantial accomplishment - we must maintain momentum.
"Substantial financial resources flowing into the game and has been channeled for the past two decades, because there's no guarantee it will persist in entering the game, which is one of the reasons why I think we have to adopt a precise perspective on challenges and obviously, of the next two or three years."
Elite Division Worries
Elite division representatives objected to the creation of a regulator because of apprehensions regarding adverse consequences on the top-flight's competitiveness, but the regulator stated: "I fully support the prosperity and expansion as an economic entity of the elite league.
"I of all people understand the apprehension regarding damaging the Premier League as a premium product of England. But concurrently, if you engage with division representatives after the recent gathering, they would have had a high level of reassurance -and, indeed, they have been informing us confidentially they have a considerable comfort."
Ideological Links
The regulator remains subject to a "thorough examination" by the public appointments commissioner after he revealed he contributed money to the political party in the past.
The chairman contributed funds to government minister the minister's leadership bid, along with that of the government leader.
"I have fully disclosed my previous political affiliation [with Labour], and that party membership ceased the day the official body endorsed my nomination," Kogan said.
"I am presently disconnected from any sort of politics."
