'Our role is integral to football's future' - newly appointed regulator David Kogan
The team's persistent issues are seen as a "serious issue" and the new football authority is seeking powers to investigate clubs in similar circumstances, the recently named head the official has stated.
In a wide-ranging interview, Kogan, who was named to the position this week, expressed "sympathy" towards supporters of the Owls.
Kogan met with four supporter groups connected to the Championship side in recent days.
The team have been facing challenges both on and off the pitch in this season, with the club failing to pay players on time on five separate occasions, including in September.
"Obviously the club has become a serious issue for football authorities and a significant problem for football," Kogan told.
"Wednesday stands as one of the historic institutions for English football and recently we have met supporters' organizations.
"We are seeking authority... which will enable us to take Wednesday and comparable cases brought to our attention if they need to be investigated and addressed."
Economic Challenges and Leadership Concerns
Wednesday's embattled owner Dejphon Chansiri suggested earlier this year he would be prepared to relinquish control at Hillsborough, but he has been unable to finalize an agreement with interested parties.
Delayed salary payments on time in spring months resulted in restrictions being imposed by the football authorities in June, blocking the team from conducting any player acquisitions for the subsequent signing windows, although those limitations were removed in August.
Official's Viewpoint
The regulator explained: "Our role exists to serve the supporters of Wednesday, other clubs in similar situations where fans are dedicated to a local institution that has existed throughout their lifetimes in many cases.
"I fully appreciate the club's situation, as I do for each organization that in modern times have encountered failure, or been close to going to the wall, for causes separate from the supporters."
Questioned about whether the oversight body could require an owner to sell a club if they are judged inappropriate, Kogan said: "When asking whether 'would we intervene in the final instance?', the response would be once we collect the information and know what's going on, we will."
But Kogan stressed that forcing owners to sell clubs would be treated as a "last resort" and the regulator would prefer to work with them.
"The last thing what we want to do is start getting involved with an individual club, an individual owner, without being in a position to cooperate with that proprietor to address the challenges confronting the team and the proprietor's dealing with," the chairman stated.
"However, realistically, when you examine the past of the game, over the recent generations there have been some owners, not many, but certain individuals who have acted carelessly in the manner they have operated their organizations and finally decline to assume obligation for the future."
Wednesday followers have been voicing opposition to the team's chairman this season
'If we get it wrong, extraordinary progress vanishes'
The chairman convened with officials from numerous teams to detail the scope of the authority recently and insisted it was a "progressive gathering" with a "significant participation" from the grassroots to elite level.
"The role holds considerable importance, because if we get it wrong, if the football community fails, the remarkable development accomplished might evaporate rapidly," the regulator warned.
"And that's what nobody wants in the context of the English game is a huge success story - we must maintain momentum.
"Substantial financial resources 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 part of the rationale behind I think we have to adopt a precise perspective on risk and of course, of the coming seasons."
Elite Division Worries
Elite division representatives objected to the creation of a regulator because of apprehensions regarding adverse consequences on the top-flight's competitiveness, but Kogan said: "I completely endorse the achievement and development as an commercial operation of the top division.
"I of all people understand the apprehension regarding damaging the top flight as an elite competition of England. But simultaneously, if you engage with division representatives after this week's discussion, they would have had a significant degree of comfort -and, actually, they have been telling us in private they have a considerable comfort."
Ideological Links
Kogan is still facing a "thorough examination" by the Commissioner for Public Appointments after he disclosed making donations to the political party in 2020.
The 68-year-old provided financial support for Secretary of State for Culture, Media and Sport the politician's campaign, along with that of the government leader.
"I've been completely open about my past party membership [with Labour], and that ideological connection terminated the day the select committee approved my appointment," the chairman stated.
"I currently have no participation in any sort of politics."
