'We will play a key role in football's future' - independent football regulator David Kogan
The Championship club's ongoing struggles represent a a "significant problem" and the independent regulator is looking to gain the ability to investigate clubs in comparable cases, the newly appointed chairman the regulator has declared.
In a wide-ranging interview, Kogan, who was appointed on Monday, expressed "sympathy" towards the club's followers.
Kogan met with four supporter groups representing the Championship side in recent days.
The football club have been struggling on and off the field in the current year, with the club delaying salary disbursements on five separate occasions, including in the autumn.
"Evidently Wednesday represents a major concern for the league and a major challenge for the sport," the chairman stated.
"Sheffield Wednesday is one of the great brands for English football and this week we have met fan representatives.
"Our aim is to acquire the ability... which will permit us to bring Sheffield Wednesday - and other clubs brought to our attention if they need to be investigated and acted upon."
Monetary Issues and Ownership Situation
The club's controversial proprietor the Thai businessman indicated in the summer he would be prepared to relinquish control at Hillsborough, but he has been unable to finalize an agreement with interested parties.
Missed wage deadlines on time in March and May resulted in restrictions being imposed by the league officials in mid-year, preventing the club from carrying out any transfers or loans for the following recruitment periods, although the ban was rescinded in the end of the transfer window.
Official's Viewpoint
Kogan said: "The job [of the regulator] is there for the supporters of Wednesday, Bury or any football club where fans are dedicated to a regional establishment that has represented their community in multiple situations.
"I fully appreciate the team's plight, as I do for every team that since 1992 have gone to the wall, or approached financial ruin, for factors unrelated to the supporters."
Inquired if the authority might compel an chairman to relinquish a club if they are judged inappropriate, Kogan said: "If your question is 'would we intervene in the final instance?', the response would be once we assemble the facts and understand the situation, we will."
But the regulator clarified that forcing owners to sell clubs would be viewed as the ultimate measure and the authority would rather to work with them.
"Our least desirable course of action is commence engagement with an particular organization, an specific proprietor, without being in a position to cooperate with that proprietor to address the issues that the club's facing and the owner's facing," the chairman stated.
"However, realistically, when you examine the past of football, over the past few decades there have been particular chairmen, not many, but certain individuals who have acted carelessly in the approach they have taken toward their organizations and finally don't wish to take responsibility for the coming years."
Sheffield Wednesday supporters have been protesting against owner Dejphon Chansiri in recent months
'Errors may undo substantial development'
Kogan met with representatives from 110 clubs to explain the responsibilities of the regulator on Wednesday and maintained it represented a "progressive gathering" with a "substantial involvement" from the National League to the Premier League.
"The role holds considerable importance, because should mistakes occur, if the football community fails, the significant advances achieved might evaporate rapidly," the regulator warned.
"And that's what nobody wants in the realm of domestic football is a substantial accomplishment - we've got to keep it going.
"Substantial financial resources coming into football and has been invested for the recent generations, because there are no assurances it will persist in entering the game, which is among the factors explaining I think we have to adopt a precise perspective on challenges and obviously, of the next two or three years."
Top Flight Apprehensions
Elite division representatives objected to the establishment of an oversight body because of fears of a negative impact on the Premier League's sporting equality, but the chairman responded: "I fully support the success and growth as an financial organization of the top division.
"As someone who appreciates the concern of undermining the division as a high-quality offering of England. But at the same time, if you talk to the Premier League after the recent gathering, they would have had a high level of reassurance -and, in fact, they have been advising us privately they have a high level of reassurance."
Partisan Associations
The chairman continues to confront a "comprehensive investigation" by the official appointments authority after he acknowledged providing funds to the Labour Party in the past.
The chairman provided financial support for government minister 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 political affiliation came to an end the day the select committee approved my appointment," the chairman stated.
"I am no longer involved in any type of partisan engagement."
