'We will play a key role in football's future' - football oversight chief the regulator's chair
The team's ongoing struggles constitute a "major concern" and the independent regulator is aiming to acquire authority to look into club affairs in similar circumstances, the newly appointed chairman David Kogan has declared.
In a wide-ranging interview, the regulator, who was appointed on Monday, showed understanding towards the club's followers.
The regulator engaged with four supporters' associations connected to the football team recently.
The Championship side have been struggling on and off the field in this season, with the club missing wage payments on several different times, including in the autumn.
"Evidently Wednesday represents a significant problem for EFL and a substantial concern for English football," the chairman stated.
"Sheffield Wednesday is one of the iconic names for the English game and recently we have met fan representatives.
"Our aim is to acquire the ability... which will enable us to take Wednesday and comparable cases brought to our attention if they warrant scrutiny and addressed."
Economic Challenges and Proprietorship Status
The team's struggling chairman the current owner indicated in the summer he would be willing to sell up at their home ground, but he has failed to complete a sale with potential new owners.
Failure to pay player wages on time in earlier this year led to sanctions by the football authorities in summer, preventing the club from carrying out any recruitment activities for the next three transfer windows, although those limitations were removed in August.
Regulator's Perspective
The chairman stated: "The job [of the regulator] is there for the fans of Sheffield Wednesday, other clubs in similar situations where supporters are loyal to a community organization that has represented their community in multiple situations.
"I completely understand the team's plight, as I do for every team that over recent decades have faced collapse, or nearly ceased operations, for reasons that have nothing to do with the followers."
Questioned about whether the authority might compel an owner to sell a club if they are deemed unsuitable, the chairman responded: "If your question is 'would we intervene in the final instance?', the reply is once we assemble the facts and know what's going on, we will."
But Kogan stressed 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 commence engagement with an specific team, an specific proprietor, without having the opportunity to collaborate with that chairman to fix the issues that the club's facing and the chairman's encountering," the chairman stated.
"But the truth is, when you examine the past of football, over the past few decades there have been particular chairmen, few in number, but certain individuals who have acted carelessly in the manner they have operated their teams and eventually refuse to accept accountability for the long-term prospects."
Sheffield Wednesday supporters have been demonstrating against the team's chairman during the current campaign
'Mistakes could erase significant advances'
The regulator engaged representatives from 110 clubs to lay out the remit of the regulator on Wednesday and insisted it was a "forward-thinking discussion" with a "high level of engagement" 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 swiftly," the regulator warned.
"And that's what nobody wants in the terms of English football is a major achievement - we've got to keep it going.
"Considerable investment entering the sport and has been invested for the recent generations, 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 challenges and obviously, of the immediate future."
Top Flight Apprehensions
The Premier League opposed the formation of an authority because of concerns about detrimental effects on the top-flight's competitiveness, but the regulator stated: "I fully support the success and growth as an financial organization of the top division.
"I of all people understand 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, in fact, they have been advising us privately they have a high level of reassurance."
Political Connections
The regulator remains subject to a "full inquiry" by the public appointments commissioner after he disclosed making donations to the opposition group in the past.
The chairman contributed funds to Secretary of State for Culture, Media and Sport Lisa Nandy's leadership campaign, along with that of the government leader.
"I have been entirely transparent regarding my previous political affiliation [with Labour], and that ideological connection terminated the day the parliamentary committee confirmed my selection," the regulator explained.
"I am no longer involved in any form of political activity."
