'We will play a key role in football's future' - independent football regulator the new chairman
The team's ongoing struggles constitute a "major concern" and the independent regulator is aiming to acquire authority to look into club affairs in comparable cases, the newly appointed chairman David Kogan has announced.
During an extensive discussion, the regulator, who was appointed on Monday, voiced concern towards Wednesday's fanbase.
The chairman convened with four supporter groups associated with the South Yorkshire club in recent days.
The team have been struggling on and off the field in the current year, with the club missing wage payments on five separate occasions, including in last month.
"Evidently Wednesday represents a serious issue for football authorities and a significant problem for football," the regulator explained.
"The club represents one of the historic institutions for English football and in recent days we have met fan representatives.
"We're now looking to get powers... which will enable us to take Sheffield Wednesday - and other clubs referred to us if they require examination and dealt with."
Monetary Issues and Proprietorship Status
Wednesday's embattled owner Dejphon Chansiri indicated in the summer he would be prepared to relinquish control at Hillsborough, but he has been unable to finalize an agreement with potential new owners.
Missed wage deadlines on time in March and May caused limitations by the league officials in summer, blocking the team from conducting any player acquisitions for the next three transfer windows, although those limitations were removed in August.
Official's Viewpoint
The regulator explained: "Our role exists to serve the Owls followers, teams facing challenges where people are committed to a community organization that has represented their community in numerous instances.
"I fully appreciate the club's situation, as I do for each organization that in modern times have encountered failure, or been close to going to the wall, for causes separate from the supporters."
Questioned about whether the regulator could force an chairman to relinquish a club if they are deemed unsuitable, Kogan said: "If your question is 'would we intervene in the final instance?', the response would be once we collect the information and know what's going on, we will."
But Kogan stressed that compelling proprietors to divest clubs would be viewed as the ultimate measure and the regulator would prefer to cooperate with proprietors.
"The final option we would consider is begin intervening in an specific team, an individual owner, without being in a position to cooperate with that chairman to fix the issues that the club's facing and the owner's facing," the regulator explained.
"In actuality, when you look back over the history of the game, over the recent generations there have been some owners, a small minority, but some who have been irresponsible in the manner they have operated their organizations and finally refuse to accept accountability for the long-term prospects."
Wednesday followers have been protesting against the team's chairman during the current campaign
'If we get it wrong, extraordinary progress vanishes'
Kogan met with delegates from multiple organizations to detail the scope of the oversight body this week and stated it constituted a "proactive meeting" with a "significant participation" from the grassroots to elite level.
"This position carries substantial significance, because if errors are made, if the world of football gets it wrong, the extraordinary progress that's been made could disappear incredibly quickly," the regulator warned.
"This represents everyone's worst fear in the context of the English game is a huge success story - we've got to keep it going.
"Substantial financial resources entering the sport and has been invested for the past two decades, because certainty is lacking it will continue to come into football, which is one of the reasons why I think we have to adopt a precise perspective on risk and of course, of the immediate future."
Premier League Concerns
The Premier League opposed the establishment of an oversight body because of apprehensions regarding adverse consequences on the elite division's competitive balance, but the chairman responded: "I'm absolutely committed to the prosperity and expansion as an commercial operation of the Premier League.
"I of all people understand the apprehension regarding damaging the Premier League as a premium product of this country. But concurrently, if you consult with top flight officials after the recent gathering, they would have had a substantial amount of confidence -and, actually, they have been informing us confidentially they have a high level of reassurance."
Political Connections
The chairman continues to confront a "comprehensive investigation" by the Commissioner for Public Appointments after he acknowledged providing funds to the opposition group in recent years.
The official contributed funds to government minister the minister's leadership bid, along with that of the current Prime Minister.
"I have fully disclosed my past party membership [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 form of political activity."
