'Our role is integral to football's future' - football oversight chief David Kogan
The team's ongoing struggles constitute a "significant problem" and the football regulator is aiming to acquire authority to examine team situations in similar circumstances, the newly appointed chairman the official has announced.
During an extensive discussion, the chairman, who was appointed on Monday, expressed "sympathy" towards supporters of the Owls.
The chairman convened with four supporters' associations associated with the South Yorkshire club in recent days.
The football club have been facing challenges both on and off the pitch in the current year, with the club delaying salary disbursements on five separate occasions, including in the autumn.
"Evidently Wednesday represents a major concern for the league and a major challenge for the sport," the regulator explained.
"Wednesday stands as one of the great brands for the English game and in recent days we have met fan representatives.
"We are seeking authority... which will enable us to take Sheffield Wednesday - and other clubs referred to us if they need to be investigated and dealt with."
Monetary Issues and Ownership Situation
Wednesday's embattled owner Dejphon Chansiri indicated in the summer he would be willing to sell up at Hillsborough, but he has been unable to finalize an agreement with potential new owners.
Missed wage deadlines on time in earlier this year led to sanctions by the English Football League (EFL) in June, stopping Wednesday from completing any player acquisitions for the following recruitment periods, although that restriction was lifted in the end of the transfer window.
Official's Viewpoint
The regulator explained: "The position was created for the fans of Sheffield Wednesday, Bury or any football club where people are committed to a local institution that has been part of their lives in multiple situations.
"I completely understand Sheffield Wednesday, as I do for all the clubs that over recent decades have faced collapse, or nearly ceased operations, for reasons that have nothing to do with the supporters."
Questioned about whether the regulator could force an owner to sell a club if they are considered unfit, the regulator answered: "If your question is 'would we intervene in the final instance?', the answer is once we gather the evidence and comprehend the circumstances, we will."
But Kogan stressed that compelling proprietors to divest 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 individual club, an particular chairman, without being in a position to cooperate with that proprietor to address the challenges confronting the team and the owner's facing," the regulator explained.
"In actuality, when you examine the past of the sport, over the past few decades there have been certain proprietors, a small minority, but particular people who have shown negligence in the manner they have operated their organizations and finally refuse to accept accountability for the coming years."
Sheffield Wednesday supporters have been voicing opposition to the team's chairman in recent months
'Errors may undo substantial development'
Kogan met with officials from numerous teams to lay out the remit of the oversight body this week and insisted it was a "forward-thinking discussion" with a "substantial involvement" from the lower divisions to the top flight.
"It's a job that's actually really important, because if we get it wrong, if the sport makes errors, the significant advances achieved could disappear incredibly quickly," Kogan said.
"And that's what nobody wants in the context of the English game is a huge success story - we've got to keep it going.
"There's an enormous amount of money entering the sport and has come into football for the past two decades, because there are no assurances it will continue to come into football, which is among the factors explaining I think we have to adopt a precise perspective on potential dangers and naturally, of the immediate future."
Premier League Concerns
Elite division representatives objected to the establishment of an oversight body because of apprehensions regarding adverse consequences on the top-flight's competitiveness, but Kogan said: "I completely endorse the success and growth as an commercial operation of the top division.
"I of all people understand the apprehension regarding damaging the division as a high-quality offering of this country. But simultaneously, if you talk to the Premier League after today's meeting, they would have had a substantial amount of confidence -and, in fact, they have been informing us confidentially they have a considerable comfort."
Ideological Links
The regulator remains subject to a "full inquiry" by the public appointments commissioner after he disclosed making donations to the political party in the past.
The official provided financial support for Culture Secretary the politician's campaign, along with that of the current Prime Minister.
"I've been completely open about my previous political affiliation [with Labour], and that party membership ceased the day the official body endorsed my nomination," Kogan said.
"I currently have no participation in any sort of politics."
