'We are going to be a part of football's future' - newly appointed regulator David Kogan
The team's ongoing struggles represent a a "significant problem" and the independent regulator is aiming to acquire authority to look into club affairs in comparable cases, its new chair David Kogan has stated.
In a wide-ranging interview, Kogan, who was appointed on Monday, expressed "sympathy" towards Wednesday's fanbase.
Kogan met with four fan organizations associated with the South Yorkshire club this week.
The football club have been struggling on and off the field in this season, with the club failing to pay players on time on several different times, including in last month.
"Clearly Sheffield Wednesday has been a serious issue for football authorities and a substantial concern for English football," the chairman stated.
"Wednesday stands as one of the great brands for the English game and this week we have met Sheffield Wednesday supporters' groups.
"We are seeking authority... which will enable us to take Sheffield Wednesday - and other clubs brought to our attention if they require examination and addressed."
Financial Struggles and Ownership Situation
The club's controversial proprietor the current owner stated during the off-season he would be prepared to relinquish control at the stadium, but he has failed to complete a sale with interested parties.
Delayed salary payments on time in March and May caused limitations by the English Football League (EFL) in June, preventing the club from carrying out any player acquisitions for the following recruitment periods, although the ban was rescinded in the end of the transfer window.
Regulator's Perspective
The regulator explained: "The job [of the regulator] is there for the supporters of Wednesday, other clubs in similar situations where people are committed to a local institution that has existed throughout their lifetimes in numerous instances.
"I have absolute sympathy for Sheffield Wednesday, as I do for each organization that since 1992 have gone to the wall, or approached financial ruin, for factors unrelated to the followers."
Questioned about whether the regulator could force an owner to sell a club if they are considered unfit, the chairman responded: "Should the inquiry concern '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 compelling proprietors to divest clubs would be viewed as the ultimate measure and the oversight body would choose to collaborate with owners.
"The last thing what we want to do is commence engagement with an individual club, an specific proprietor, without being in a position to cooperate with that proprietor to address the issues that the club's facing and the chairman's encountering," Kogan said.
"However, realistically, when you look back over the history of the game, over the recent generations there have been certain proprietors, not many, but certain individuals who have acted carelessly in the approach they have taken toward their teams and eventually refuse to accept accountability for the long-term prospects."
Sheffield Wednesday supporters have been protesting against the team's chairman during the current campaign
'Errors may undo substantial development'
The chairman convened with officials from numerous teams to lay out the remit of the authority recently and insisted it was a "forward-thinking discussion" with a "high level of engagement" 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 swiftly," the chairman stated.
"And that's what nobody wants in the terms of English football is a huge success story - we must maintain momentum.
"Substantial financial resources entering the sport and has been channeled 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 maintain a focused outlook on risk and of course, of the immediate future."
Elite Division Worries
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 prosperity and expansion as an economic entity of the elite league.
"Being fully aware of the worry about compromising the Premier League as a premium product of England. 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 advising us privately they have a high level of reassurance."
Political Connections
The regulator remains subject to a "thorough examination" by the Commissioner for Public Appointments after he disclosed making donations to the Labour Party in the past.
The 68-year-old donated money to government minister the minister's leadership bid, along with that of the government leader.
"I've been completely open about my previous political affiliation [with Labour], and that political affiliation came to an end the day the select committee approved my appointment," the regulator explained.
"I am presently disconnected from any sort of politics."
