'We will play a key role in football's future' - football oversight chief David Kogan
The Championship club's ongoing struggles constitute a "serious issue" and the independent regulator is looking to gain the ability to examine team situations in similar circumstances, its new chair the regulator has stated.
In a wide-ranging interview, the chairman, who was appointed on Monday, expressed "sympathy" towards Wednesday's fanbase.
The regulator engaged with four supporter groups connected to the Championship side in recent days.
The Championship side have been facing challenges both on and off the pitch in the current year, with the club missing wage payments on several different times, including in September.
"Evidently Wednesday represents a significant problem for EFL and a significant problem for football," the chairman stated.
"Sheffield Wednesday is one of the great brands for English football and in recent days we have met fan representatives.
"We are seeking authority... which will permit us to bring Sheffield Wednesday - and other clubs brought to our attention if they need to be investigated and acted upon."
Financial Struggles and Leadership Concerns
The team's struggling chairman Dejphon Chansiri indicated in the summer he would be prepared to relinquish control at the stadium, but he has not been able to secure a deal with potential new owners.
Failure to pay player wages on time in March and May led to sanctions by the league officials in mid-year, preventing the club from carrying out any recruitment activities for the subsequent signing windows, although that restriction was lifted in late summer.
Regulator's Perspective
The chairman stated: "Our role exists to serve the supporters of Wednesday, teams facing challenges where supporters are loyal to a community organization that has existed throughout their lifetimes in many cases.
"I fully appreciate the club's situation, as I do for all the clubs that over recent decades have faced collapse, or been close to going to the wall, for reasons that have nothing to do with the fans themselves."
When asked if the oversight body could require an chairman to relinquish a club if they are judged inappropriate, the regulator answered: "Should the inquiry concern 'would we intervene in the final instance?', the response would be once we assemble the facts and comprehend the circumstances, we will."
But the chairman emphasized that requiring chairmen to relinquish clubs would be viewed as the ultimate measure and the regulator would prefer to cooperate with proprietors.
"Our least desirable course of action is begin intervening in an specific team, an specific proprietor, without having the opportunity to collaborate with that chairman to fix the problems affecting the organization and the proprietor's dealing with," the chairman stated.
"However, realistically, when you review the record of football, over the last 20 or 30 years there have been some owners, few in number, but certain individuals who have acted carelessly in the way which they've been managing their clubs and ultimately don't wish to take responsibility for the future."
Owls fans have been protesting against owner Dejphon Chansiri this season
'Mistakes could erase significant advances'
The chairman convened with delegates from multiple organizations to detail the scope of the regulator on Wednesday and stated it constituted a "forward-thinking discussion" with a "high level of engagement" from the National League to the Premier League.
"It's a job that's actually really important, because if we get it wrong, if the sport makes errors, the remarkable development accomplished might evaporate incredibly quickly," the regulator warned.
"Such an outcome is universally undesirable in the context of the English game is a huge success story - we've got to keep it going.
"Considerable investment entering the sport and has been invested for the last 20 or 25 years, because there are no assurances it will continue to come into football, which is one of the reasons why I think we have to take a really clear view on potential dangers and naturally, of the immediate future."
Elite Division Worries
The Premier League opposed the creation of a regulator because of apprehensions regarding adverse consequences on the elite division's competitive balance, but the chairman responded: "I'm absolutely committed to the success and growth as an financial organization of the Premier League.
"Being fully aware of the apprehension regarding damaging the Premier League as a premium product of this country. But concurrently, if you consult with top flight officials after the recent gathering, they would have had a substantial amount of confidence -and, indeed, they have been telling us in private they have a significant confidence."
Political Connections
The regulator remains subject to a "comprehensive investigation" by the public appointments commissioner after he acknowledged providing funds to the opposition group in the past.
The official donated money to government minister Lisa Nandy's leadership campaign, along with that of the now Prime Minister Sir Keir Starmer.
"I have fully disclosed my former ideological connection [with Labour], and that political affiliation came to an end the day the parliamentary committee confirmed my selection," the chairman stated.
"I currently have no participation in any form of political activity."
