'We will play a key role in football's future' - newly appointed regulator 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 similar circumstances, its new chair the regulator has stated.
In a wide-ranging interview, the chairman, who was appointed on Monday, showed understanding towards Wednesday's fanbase.
The chairman convened with four supporter groups representing the Championship side in recent days.
The team have been struggling on and off the field in this season, with the club delaying salary disbursements on five separate occasions, including in last month.
"Obviously the club has become a major concern for the league and a substantial concern for English football," Kogan told.
"Wednesday stands as one of the great brands for the English game and recently we have met fan representatives.
"Our aim is to acquire the ability... which will permit us to bring Wednesday and comparable cases referred to us if they need to be investigated and addressed."
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.
Delayed salary payments on time in spring months resulted in restrictions being imposed by the football authorities in June, preventing the club from carrying out any player acquisitions for the next three transfer windows, although that restriction was lifted in August.
Authority's Position
The chairman stated: "The job [of the regulator] is there for the fans of Sheffield Wednesday, Bury or any football club where fans are dedicated to a regional establishment that has represented their community 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 nearly ceased operations, for causes separate from the supporters."
Inquired if the regulator could force an chairman to relinquish 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 comprehend the circumstances, we will."
But the regulator clarified that requiring chairmen to relinquish clubs would be considered the final option and the oversight body would choose to work with them.
"Our least desirable course of action 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 proprietor's dealing with," the chairman stated.
"However, realistically, when you look back over the history of football, over the last 20 or 30 years there have been particular chairmen, not many, but particular people who have shown negligence in the way which they've been managing their clubs and ultimately refuse to accept accountability for the coming years."
Sheffield Wednesday supporters have been protesting against owner Dejphon Chansiri this season
'Errors may undo substantial development'
The chairman convened with officials from numerous teams to detail the scope of the regulator on Wednesday and insisted it was a "proactive meeting" with a "significant participation" from the lower divisions to the top flight.
"It's a job that's actually really important, because should mistakes occur, if the sport makes errors, the extraordinary progress that's been made necessary will vanish swiftly," Kogan said.
"Such an outcome is universally undesirable in the context of the English game is a major achievement - we've got to keep it going.
"Substantial financial resources entering the sport and has been invested for the past two decades, because there's no guarantee it will persist in entering the game, which is part of the rationale behind I think we have to take a really clear view on challenges and obviously, of the coming seasons."
Elite Division Worries
Elite division representatives objected to the establishment of an oversight body because of fears of a negative impact on the elite division's competitive balance, but the chairman responded: "I fully support the prosperity and expansion as an economic entity of the Premier League.
"I of all people understand the apprehension regarding damaging the top flight as an elite competition of this country. But concurrently, if you consult with top flight officials after today's meeting, they would have had a high level of reassurance -and, actually, they have been telling us in private they have a high level of reassurance."
Political Connections
The regulator remains subject to a "thorough examination" by the public appointments commissioner after he revealed he contributed money to the political party in recent years.
The 68-year-old contributed funds to Culture Secretary the politician's campaign, along with that of the government leader.
"I have fully disclosed my previous political affiliation [with Labour], and that party membership ceased the day the official body endorsed my nomination," the chairman stated.
"I am presently disconnected from any type of partisan engagement."
