'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 aiming to acquire authority to investigate clubs in such situations, its new chair David Kogan has announced.
In a wide-ranging interview, the chairman, who was recently selected, expressed "sympathy" towards the club's followers.
The regulator engaged with four supporters' associations representing the Championship side recently.
The Championship side have been experiencing difficulties in multiple areas in this season, with the club failing to pay players on time on multiple instances, including in September.
"Obviously the club has become a significant problem for EFL and a major challenge for the sport," Kogan told.
"Sheffield Wednesday is one of the great brands for the English game and recently we have met fan representatives.
"We're now looking to get powers... which will permit us to bring Wednesday and comparable cases submitted for our review if they require examination and addressed."
Financial Struggles and Proprietorship Status
Wednesday's embattled owner Dejphon Chansiri suggested earlier this year he would be prepared to relinquish control at the stadium, but he has failed to complete a sale with prospective buyers.
Delayed salary payments on time in earlier this year led to sanctions by the league officials in June, blocking the team from conducting any player acquisitions for the next three transfer windows, although the ban was rescinded in late summer.
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 existed throughout their lifetimes in numerous instances.
"I fully appreciate the club's situation, as I do for each organization that over recent decades have faced collapse, or approached financial ruin, for reasons that have nothing to do with the supporters."
Questioned about whether the authority might compel an proprietor to divest a club if they are judged inappropriate, Kogan said: "Should the inquiry concern 'would we intervene in the final instance?', the response would be once we collect the information and understand the situation, we will."
But the chairman emphasized that compelling proprietors to divest clubs would be considered the final option and the oversight body would choose to cooperate with proprietors.
"The last thing what we want to do is start getting involved with an specific team, an specific proprietor, without having the opportunity to collaborate with that owner to try and resolve the problems affecting the organization and the owner's facing," Kogan said.
"However, realistically, when you review the record of the sport, 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 coming years."
Sheffield Wednesday supporters have been demonstrating against the current proprietor during the current campaign
'Mistakes could erase significant advances'
Kogan met with officials from numerous teams to explain the responsibilities of the oversight body this week and maintained it represented a "forward-thinking discussion" with a "high level of engagement" from the lower divisions to the top flight.
"The role holds considerable importance, because if errors are made, if the sport makes errors, the extraordinary progress that's been made could disappear swiftly," the regulator warned.
"This represents everyone's worst fear in the realm of domestic football is a major achievement - we've got to keep it going.
"Considerable investment coming into football and has been channeled for the last 20 or 25 years, because there are no assurances it will keep flowing into the sport, which is among the factors explaining I think we have to adopt a precise perspective on potential dangers and naturally, of the immediate future."
Premier League Concerns
Elite division representatives objected to the creation of a regulator because of concerns about detrimental effects on the top-flight's competitiveness, but Kogan said: "I'm absolutely committed to the prosperity and expansion as an financial organization of the elite league.
"As someone who appreciates the apprehension regarding damaging the division as a high-quality offering of the nation. But concurrently, if you engage with division representatives after the recent gathering, they would have had a substantial amount of confidence -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 official appointments authority after he acknowledged providing funds to the Labour Party in recent years.
The chairman contributed funds to Culture Secretary 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 ideological connection terminated the day the official body endorsed my nomination," the regulator explained.
"I am no longer involved in any type of partisan engagement."
