'We will play a key role in football's future' - independent football regulator David Kogan
The team's persistent issues represent a a "major concern" and the independent regulator is seeking powers to investigate clubs in similar circumstances, the newly appointed chairman the regulator has declared.
In a wide-ranging interview, Kogan, who was appointed on Monday, showed understanding towards the club's followers.
Kogan met with four supporter groups connected to the South Yorkshire club in recent days.
The Championship side have been facing challenges both on and off the pitch in this season, with the club missing wage payments on five separate occasions, including in the autumn.
"Obviously the club has become a significant problem for EFL and a significant problem for football," the chairman stated.
"Sheffield Wednesday is one of the iconic names for football in England and in recent days we have met supporters' organizations.
"We're now looking to get powers... which will permit us to bring Wednesday and comparable cases submitted for our review if they warrant scrutiny and dealt with."
Economic Challenges and Leadership Concerns
The team's struggling chairman the current owner suggested earlier this year he would be prepared to relinquish control at Hillsborough, but he has not been able to secure a deal with potential new owners.
Failure to pay player wages on time in spring months led to sanctions by the league officials in June, stopping Wednesday from completing any player acquisitions for the subsequent signing windows, although that restriction was lifted in the end of the transfer window.
Regulator's Perspective
Kogan said: "Our role exists to serve the fans of Sheffield Wednesday, other clubs in similar situations where people are committed to a local institution that has existed throughout their lifetimes in numerous instances.
"I completely understand the club's situation, as I do for every team that since 1992 have gone to the wall, or been close to going to the wall, for factors unrelated to the supporters."
Inquired if the authority might compel an chairman to relinquish a club if they are deemed unsuitable, the regulator answered: "If your question is 'would we intervene in the final instance?', the reply is once we gather the evidence and know what's going on, we will."
But Kogan stressed that requiring chairmen to relinquish clubs would be treated as a "last resort" and the regulator would prefer to collaborate with owners.
"Our least desirable course of action is begin intervening in an individual club, an individual owner, without being able to work with that proprietor to address the challenges confronting the team and the owner's facing," the chairman stated.
"However, realistically, when you examine the past of the game, over the past few decades there have been some owners, a small minority, but certain individuals who have acted carelessly in the approach they have taken toward their teams and eventually refuse to accept accountability for the coming years."
Wednesday followers have been demonstrating against the current proprietor in recent months
'Mistakes could erase significant advances'
Kogan met with delegates from multiple organizations to explain the responsibilities of the authority recently and maintained it represented a "proactive meeting" with a "substantial involvement" from the National League to the Premier League.
"This position carries substantial significance, because if errors are made, if the sport makes errors, the significant advances achieved could disappear incredibly quickly," the regulator warned.
"This represents everyone's worst fear in the context of the English game is a major achievement - we need to continue the progress.
"There's an enormous amount of money entering the sport and has come into football for the last 20 or 25 years, because there are no assurances it will keep flowing into the sport, which is part of the rationale behind I think we have to take a really clear view on risk and of course, of the coming seasons."
Premier League Concerns
Top flight officials resisted the establishment of an oversight body because of concerns about detrimental effects on the top-flight's competitiveness, but the regulator stated: "I completely endorse the prosperity and expansion as an commercial operation of the elite league.
"Being fully aware of the worry about compromising the division as a high-quality offering of England. But concurrently, if you talk to the Premier League after today's meeting, they would have had a significant degree of comfort -and, indeed, they have been advising us privately they have a considerable comfort."
Ideological Links
The regulator remains subject to a "thorough examination" by the Commissioner for Public Appointments after he acknowledged providing funds to the opposition group in the past.
The chairman donated money to Culture Secretary Lisa Nandy's leadership campaign, along with that of the current Prime Minister.
"I have fully disclosed my previous political affiliation [with Labour], and that political affiliation came to an end the day the official body endorsed my nomination," the regulator explained.
"I am no longer involved in any sort of politics."
