'Our role is integral to football's future' - football oversight chief David Kogan
The Championship club's persistent issues constitute a "serious issue" and the independent regulator is seeking powers to look into club affairs in such situations, the newly appointed chairman the official has announced.
In a wide-ranging interview, Kogan, who was appointed on Monday, expressed "sympathy" towards the club's followers.
The chairman convened with four fan organizations associated with the football team this week.
The team have been facing challenges both on and off the pitch in the current year, with the club delaying salary disbursements on five separate occasions, including in September.
"Obviously the club has become a significant problem for EFL and a substantial concern for English football," the regulator explained.
"Wednesday stands as one of the great brands for the English game and in recent days 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 need to be investigated and addressed."
Economic Challenges and Leadership Concerns
Wednesday's embattled owner the Thai businessman suggested earlier this year he would be willing to sell up at Hillsborough, but he has failed to complete a sale with potential new owners.
Delayed salary payments on time in spring months caused limitations by the league officials in June, stopping Wednesday from completing any transfers or loans for the subsequent signing windows, although the ban was rescinded in August.
Regulator's Perspective
The regulator explained: "The job [of the regulator] is there for the fans of Sheffield Wednesday, other clubs in similar situations where people are committed to a community organization that has been part of their lives in numerous instances.
"I fully appreciate the club's situation, as I do for all the clubs that since 1992 have gone to the wall, or been close to going to the wall, for reasons that have nothing to do with the fans themselves."
Inquired if the regulator could force an proprietor to divest a club if they are deemed unsuitable, Kogan said: "Should the inquiry concern '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 the chairman emphasized that forcing owners to sell clubs would be viewed as the ultimate measure and the authority would rather to work with them.
"The last thing what we want to do is begin intervening in an individual club, an individual owner, without having the opportunity to collaborate with that proprietor to address the challenges confronting the team and the owner's facing," Kogan said.
"But the truth is, when you look back over the history of football, over the last 20 or 30 years there have been certain proprietors, few in number, but particular people who have shown negligence in the approach they have taken toward their teams and eventually refuse to accept accountability for the future."
Sheffield Wednesday supporters have been protesting against the team's chairman this season
'If we get it wrong, extraordinary progress vanishes'
The regulator engaged delegates from multiple organizations to detail the scope of the authority recently and insisted it was a "proactive meeting" with a "significant participation" from the grassroots to elite level.
"It's a job that's actually really important, because if we get it wrong, if the football community fails, the remarkable development accomplished necessary will vanish incredibly quickly," the chairman stated.
"This represents everyone's worst fear in the context of the English game is a major achievement - we've got to keep it going.
"There's an enormous amount of money flowing into the game and has been invested for the past two decades, because certainty is lacking it will continue to come into football, which is part of the rationale behind I think we have to take a really clear view on potential dangers and naturally, of the coming seasons."
Premier League Concerns
Top flight officials resisted the creation of a regulator because of concerns about detrimental effects on the top-flight's competitiveness, but the chairman responded: "I fully support the achievement and development as an financial organization of the elite league.
"As someone who appreciates the worry about compromising the division as a high-quality offering of England. But simultaneously, 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 informing us confidentially they have a considerable comfort."
Partisan Associations
The regulator remains subject to a "comprehensive investigation" by the public appointments commissioner after he revealed he contributed money to the opposition group in recent years.
The chairman donated money to government minister Lisa Nandy's leadership campaign, along with that of the government leader.
"I have fully disclosed my previous political affiliation [with Labour], and that political affiliation came to an end the day the parliamentary committee confirmed my selection," the regulator explained.
"I am no longer involved in any sort of politics."
