'Our role is integral to football's future' - football oversight chief David Kogan
The Championship club's current difficulties are seen as a "major concern" and the football regulator is looking to gain the ability to investigate clubs in such situations, the newly appointed chairman the official has stated.
During an extensive discussion, the chairman, who was named to the position this week, expressed "sympathy" towards supporters of the Owls.
Kogan met with four supporter groups associated with the South Yorkshire club in recent days.
The team have been experiencing difficulties in multiple areas in this season, with the club delaying salary disbursements on several different times, including in the autumn.
"Clearly Sheffield Wednesday has been a major concern for the league and a major challenge for the sport," the regulator explained.
"Sheffield Wednesday is one of the great brands for football in England and recently we have met fan representatives.
"Our aim is to acquire the ability... which will enable us to take Sheffield Wednesday - and other clubs submitted for our review if they warrant scrutiny and addressed."
Monetary Issues and Leadership Concerns
Wednesday's embattled owner the Thai businessman indicated in the summer he would be open to selling the club at Hillsborough, but he has not been able to secure a deal with potential new owners.
Failure to pay player wages on time in March and May caused limitations by the English Football League (EFL) in mid-year, blocking the team from conducting any recruitment activities for the following recruitment periods, although that restriction was lifted in late summer.
Authority's Position
Kogan said: "The position was created for the fans of Sheffield Wednesday, other clubs in similar situations where supporters are loyal to a regional establishment that has existed throughout their lifetimes in multiple situations.
"I completely understand the team's plight, as I do for all the clubs that over recent decades have faced collapse, or been close to going to the wall, for factors unrelated to the followers."
When asked if the regulator could force an chairman to relinquish a club if they are judged inappropriate, the regulator answered: "When asking whether 'would we intervene in the final instance?', the response would be once we collect the information and understand the situation, we will."
But Kogan stressed that requiring chairmen to relinquish clubs would be viewed as the ultimate measure and the regulator would prefer to cooperate with proprietors.
"The final option we would consider is start getting involved with an individual club, an individual owner, without being able to work with that proprietor to address the issues that the club's facing and the owner's facing," the chairman stated.
"In actuality, when you examine the past of the sport, over the past few decades there have been particular chairmen, not many, but some who have been irresponsible in the approach they have taken toward their teams and eventually decline to assume obligation for the long-term prospects."
Owls fans have been protesting against the current proprietor this season
'Mistakes could erase significant advances'
The chairman convened with officials from numerous teams to explain the responsibilities of the authority recently and stated it constituted 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 errors are made, if the football community fails, the significant advances achieved might evaporate swiftly," the regulator warned.
"This represents everyone's worst fear in the realm of domestic football is a major achievement - we must maintain momentum.
"There's an enormous amount of money flowing into the game and has been invested for the recent generations, because there's no guarantee it will persist in entering the game, which is among the factors explaining I think we have to maintain a focused outlook on risk and of course, of the next two or three years."
Premier League Concerns
The Premier League opposed the creation of a regulator because of fears of a negative impact on the top-flight's competitiveness, but the chairman responded: "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 the nation. But concurrently, if you engage with division representatives after today's meeting, they would have had a substantial amount of confidence -and, indeed, they have been telling us in private they have a high level of reassurance."
Ideological Links
The chairman continues to confront a "comprehensive investigation" by the public appointments commissioner after he disclosed making donations to the opposition group in the past.
The 68-year-old contributed funds to Secretary of State for Culture, Media and Sport the politician's campaign, along with that of the current Prime Minister.
"I have fully disclosed my former ideological connection [with Labour], and that political affiliation came to an end the day the parliamentary committee confirmed my selection," Kogan said.
"I am no longer involved in any type of partisan engagement."
