'Our role is integral to football's future' - football oversight chief the regulator's chair
The Championship club's current difficulties represent a a "serious issue" and the independent regulator is looking to gain the ability to look into club affairs in such situations, the newly appointed chairman David Kogan has stated.
Through a comprehensive talk, the regulator, who was recently selected, expressed "sympathy" towards the club's followers.
The chairman convened with four supporter groups representing the Championship side recently.
The team have been experiencing difficulties in multiple areas in this season, with the club delaying salary disbursements on five separate occasions, including in the autumn.
"Evidently Wednesday represents a serious issue for football authorities and a significant problem for football," Kogan told.
"Wednesday stands as one of the historic institutions for football in England and in recent days we have met fan representatives.
"Our aim is to acquire the ability... which will enable us to take the club and similar situations brought to our attention if they require examination and acted upon."
Financial Struggles and Proprietorship Status
The team's struggling chairman Dejphon Chansiri suggested earlier this year he would be willing to sell up at the stadium, but he has been unable to finalize an agreement with interested parties.
Missed wage deadlines on time in earlier this year caused limitations by the English Football League (EFL) in mid-year, preventing the club from carrying out any transfers or loans for the following recruitment periods, although the ban was rescinded in the end of the transfer window.
Authority's Position
The chairman stated: "The job [of the regulator] is there for the Owls followers, teams facing challenges where supporters are loyal to a community organization that has been part of their lives in numerous instances.
"I have absolute sympathy for the team's plight, as I do for every team that since 1992 have gone to the wall, or been close to going to the wall, for reasons that have nothing to do with the fans themselves."
When asked if the regulator could force an proprietor to divest a club if they are judged inappropriate, the chairman responded: "Should the inquiry concern 'would we intervene in the final instance?', the answer is once we gather the evidence and know what's going on, we will."
But the regulator clarified that compelling proprietors to divest clubs would be considered the final option and the regulator would prefer to collaborate with owners.
"Our least desirable course of action is start getting involved with an specific team, an individual owner, without being able to work with that owner to try and resolve the problems affecting the organization and the proprietor's dealing with," Kogan said.
"But the truth is, when you review the record of football, over the past few decades there have been particular chairmen, a small minority, 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."
Owls fans have been protesting against the current proprietor in recent months
'If we get it wrong, extraordinary progress vanishes'
The regulator engaged officials from numerous teams to explain the responsibilities of the oversight body this week and maintained it represented a "progressive gathering" with a "high level of engagement" from the National League to the Premier League.
"It's a job that's actually really important, because should mistakes occur, if the world of football gets it wrong, the extraordinary progress that's been made could disappear rapidly," the chairman stated.
"This represents everyone's worst fear in the context of the English game is a substantial accomplishment - we've got to keep it going.
"Substantial financial resources entering the sport and has come into football for the past two decades, because there's no guarantee it will continue to come into football, which is part of the rationale behind I think we have to maintain a focused outlook on challenges and obviously, of the coming seasons."
Elite Division Worries
Top flight officials resisted the formation of an authority because of apprehensions regarding adverse consequences on the elite division's competitive balance, but the regulator stated: "I completely endorse the success and growth as an economic entity of the elite league.
"I of all people understand the worry about compromising the top flight as an elite competition of the nation. But simultaneously, if you talk to the Premier League after the recent gathering, they would have had a significant degree of comfort -and, actually, they have been informing us confidentially they have a high level of reassurance."
Partisan Associations
Kogan is still facing a "comprehensive investigation" by the Commissioner for Public Appointments after he acknowledged providing funds to the Labour Party in recent years.
The chairman donated money to government minister the minister's leadership bid, along with that of the current Prime Minister.
"I have been entirely transparent regarding my past party membership [with Labour], and that ideological connection terminated the day the official body endorsed my nomination," the regulator explained.
"I currently have no participation in any sort of politics."
