'We will play a key role in football's future' - football oversight chief David Kogan
The Championship club's current difficulties represent a a "major concern" and the independent regulator is seeking powers to investigate clubs in such situations, the recently named head the official has declared.
In a wide-ranging interview, Kogan, who was named to the position this week, showed understanding towards supporters of the Owls.
The chairman convened with four fan organizations connected to the Championship side in recent days.
The team have been struggling on and off the field in this season, with the club missing wage payments on several different times, including in the autumn.
"Obviously the club has become a serious issue for football authorities and a major challenge for the sport," the chairman stated.
"Wednesday stands as one of the great brands for football in England and this week we have met Sheffield Wednesday supporters' groups.
"Our aim is to acquire the ability... which will enable us to take Sheffield Wednesday - and other clubs brought to our attention if they warrant scrutiny and dealt with."
Financial Struggles and Proprietorship Status
The team's struggling chairman Dejphon Chansiri indicated in the summer he would be willing to sell up at their home ground, but he has been unable to finalize an agreement with prospective buyers.
Failure to pay player wages 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 those limitations were removed in late summer.
Official's Viewpoint
The chairman stated: "The job [of the regulator] is there for the supporters of Wednesday, teams facing challenges where supporters are loyal to a regional establishment that has existed throughout their lifetimes in multiple situations.
"I have absolute sympathy for the club's situation, as I do for each organization that over recent decades have faced collapse, or nearly ceased operations, for factors unrelated to the supporters."
Questioned about whether the oversight body could require 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 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 treated as a "last resort" and the oversight body would choose to collaborate with owners.
"The final option we would consider is commence engagement with an specific team, an particular chairman, without having the opportunity to collaborate with that proprietor to address the issues that the club's facing and the owner's facing," Kogan said.
"In actuality, when you look back over the history of the sport, over the recent generations there have been some owners, not many, but particular people who have shown negligence in the way which they've been managing their clubs and ultimately decline to assume obligation for the coming years."
Owls fans have been demonstrating against the team's chairman this season
'If we get it wrong, extraordinary progress vanishes'
The regulator engaged officials from numerous teams to lay out the remit of the oversight body this week and insisted it was a "forward-thinking discussion" with a "substantial involvement" from the lower divisions to the top flight.
"The role holds considerable importance, because should mistakes occur, if the sport makes errors, the remarkable development accomplished 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 need to continue the progress.
"Substantial financial resources flowing into the game and has been invested for the past two decades, because there's no guarantee it will keep flowing into the sport, which is one of the reasons why I think we have to maintain a focused outlook on potential dangers and naturally, of the coming seasons."
Top Flight Apprehensions
The Premier League opposed the creation of a regulator because of concerns about detrimental effects on the Premier League's sporting equality, but the regulator stated: "I completely endorse the achievement and development as an economic entity of the elite league.
"I of all people understand the apprehension regarding damaging the Premier League as a premium product of this country. But at the same time, if you consult with top flight officials after today's meeting, they would have had a significant degree of comfort -and, actually, they have been informing us confidentially they have a considerable comfort."
Ideological Links
The regulator remains subject to a "full inquiry" by the public appointments commissioner after he disclosed making donations to the Labour Party in the past.
The chairman provided financial support for Secretary of State for Culture, Media and Sport the minister's leadership bid, along with that of the current Prime Minister.
"I have fully disclosed my previous political affiliation [with Labour], and that political affiliation came to an end the day the official body endorsed my nomination," Kogan said.
"I currently have no participation in any type of partisan engagement."
