'We are going to be a part of football's future' - independent football regulator the regulator's chair
The team's current difficulties are seen as a "major concern" and the football regulator is aiming to acquire authority to investigate clubs in such situations, the newly appointed chairman David Kogan has announced.
Through a comprehensive talk, the regulator, who was named to the position this week, showed understanding towards the club's followers.
The chairman convened with four fan organizations representing the Championship side this week.
The Championship side have been struggling on and off the field in this season, with the club missing wage payments on five separate occasions, including in last month.
"Obviously the club has become a serious issue for football authorities and a major challenge for the sport," the chairman stated.
"Sheffield Wednesday is one of the great brands for the English game and recently we have met fan representatives.
"We are seeking authority... which will allow us to have Sheffield Wednesday - and other clubs referred to us if they warrant scrutiny and acted upon."
Monetary Issues and Proprietorship Status
Wednesday's embattled owner the Thai businessman indicated in the summer he would be willing to sell up at their home ground, but he has not been able to secure a deal with interested parties.
Missed wage deadlines on time in March and May resulted in restrictions being imposed by the English Football League (EFL) in summer, blocking the team from conducting any recruitment activities for the next three transfer windows, although the ban was rescinded in late summer.
Regulator's Perspective
The chairman stated: "Our role exists to serve the Owls followers, teams facing challenges where people are committed to a local institution that has existed throughout their lifetimes in many cases.
"I have absolute sympathy for 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 causes separate from the followers."
Inquired if the authority might compel an proprietor to divest a club if they are deemed unsuitable, the chairman responded: "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 the chairman emphasized that compelling proprietors to divest clubs would be considered the final option and the regulator would prefer to collaborate with owners.
"The final option we would consider is commence engagement with an specific team, an individual owner, without being in a position to cooperate with that owner to try and resolve the issues that the club's facing and the chairman's encountering," Kogan said.
"In actuality, when you examine the past of football, over the recent generations there have been some owners, few in number, but particular people who have shown negligence in the manner they have operated their clubs and ultimately decline to assume obligation for the long-term prospects."
Wednesday followers have been demonstrating against owner Dejphon Chansiri this season
'Mistakes could erase significant advances'
The regulator engaged delegates from multiple organizations 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.
"This position carries substantial significance, because should mistakes occur, if the football community fails, the significant advances achieved might evaporate incredibly quickly," the chairman stated.
"This represents everyone's worst fear in the terms of English football is a huge success story - we've got to keep it going.
"Substantial financial resources coming into football and has been channeled for the last 20 or 25 years, because there are no assurances it will keep flowing into the sport, which is one of the reasons why I think we have to maintain a focused outlook on challenges and obviously, of the coming seasons."
Premier League Concerns
Top flight officials resisted the creation of a regulator because of apprehensions regarding adverse consequences on the elite division's competitive balance, but the chairman responded: "I fully support the achievement and development as an commercial operation of the elite league.
"Being fully aware of the worry about compromising the top flight as an elite competition of England. But concurrently, if you engage with division representatives after the recent gathering, they would have had a significant degree of comfort -and, in fact, they have been advising us privately they have a significant confidence."
Ideological Links
The chairman continues to confront a "full inquiry" by the official appointments authority after he acknowledged providing funds to the political party in the past.
The official donated money to Culture Secretary the politician's campaign, along with that of the government leader.
"I have been entirely transparent regarding my former ideological connection [with Labour], and that party membership ceased the day the official body endorsed my nomination," Kogan said.
"I am presently disconnected from any form of political activity."
