'Our role is integral to football's future' - football oversight chief David Kogan
The Championship club's persistent issues represent a a "major concern" and the new football authority is seeking powers to examine team situations in comparable cases, the recently named head the official has announced.
During an extensive discussion, Kogan, who was recently selected, expressed "sympathy" towards supporters of the Owls.
The chairman convened with four fan organizations associated with the football team in recent days.
The Championship side have been experiencing difficulties in multiple areas in this season, with the club delaying salary disbursements on five separate occasions, including in the autumn.
"Obviously the club has become a major concern for the league and a major challenge for the sport," Kogan told.
"Wednesday stands as one of the historic institutions for football in England and this week we have met Sheffield Wednesday supporters' groups.
"Our aim is to acquire the ability... which will permit us to bring the club and similar situations submitted for our review if they require examination and addressed."
Monetary Issues and Leadership Concerns
The club's controversial proprietor the current owner suggested earlier this year he would be willing to sell up at the stadium, but he has not been able to secure a deal with interested parties.
Failure to pay player wages on time in March and May resulted in restrictions being imposed by the English Football League (EFL) in summer, preventing the club from carrying out any recruitment activities for the next three transfer windows, although that restriction was lifted in the end of the transfer window.
Official's Viewpoint
The regulator explained: "Our role exists to serve the fans of Sheffield Wednesday, Bury or any football club where supporters are loyal to a local institution that has represented their community in numerous instances.
"I fully appreciate the team's plight, as I do for all the clubs that over recent decades have faced collapse, or approached financial ruin, for reasons that have nothing to do with the followers."
Questioned about whether the oversight body could require an proprietor to divest a club if they are deemed unsuitable, the chairman responded: "Should the inquiry concern 'would we intervene in the final instance?', the reply is once we collect the information and comprehend the circumstances, we will."
But the chairman emphasized that forcing owners to sell clubs would be treated as a "last resort" and the regulator would prefer to collaborate with owners.
"Our least desirable course of action is start getting involved with an specific team, an specific proprietor, without being able to work with that proprietor to address the challenges confronting the team and the chairman's encountering," the regulator explained.
"But the truth is, when you review the record of the game, over the past few decades there have been certain proprietors, a small minority, but some who have been irresponsible in the manner they have operated their teams and eventually don't wish to take responsibility for the long-term prospects."
Sheffield Wednesday supporters have been protesting against the team's chairman in recent months
'If we get it wrong, extraordinary progress vanishes'
The chairman convened with delegates from multiple organizations to detail the scope of the authority recently and stated it constituted a "progressive gathering" with a "substantial involvement" from the National League to the Premier League.
"This position carries substantial significance, because should mistakes occur, if the world of football gets it wrong, the extraordinary progress that's been made necessary will vanish incredibly quickly," the regulator warned.
"And that's what nobody wants in the context of the English game is a major achievement - we need to continue the progress.
"Considerable investment entering the sport and has been channeled for the past two decades, because certainty is lacking it will persist in entering the game, which is one of the reasons why I think we have to maintain a focused outlook on risk and of course, of the immediate future."
Premier League Concerns
Top flight officials resisted the establishment of an oversight body because of apprehensions regarding adverse consequences on the top-flight's competitiveness, but Kogan said: "I'm absolutely committed to the achievement and development as an economic entity of the Premier League.
"As someone who appreciates the concern of undermining the Premier League as a premium product of this country. But simultaneously, if you talk to the Premier League after this week's discussion, they would have had a high level of reassurance -and, indeed, they have been telling us in private they have a high level of reassurance."
Partisan Associations
The regulator remains subject to a "comprehensive investigation" by the public appointments commissioner after he disclosed making donations to the political party in recent years.
The chairman donated money to Culture Secretary 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 party membership ceased the day the parliamentary committee confirmed my selection," Kogan said.
"I currently have no participation in any form of political activity."
