'Our role is integral to football's future' - football oversight chief David Kogan
The team's current difficulties are seen as a "serious issue" and the new football authority is aiming to acquire authority to investigate clubs in such situations, the recently named head the official has stated.
In a wide-ranging interview, the chairman, who was appointed on Monday, voiced concern towards the club's followers.
Kogan met with four supporters' associations connected to the South Yorkshire club in recent days.
The Championship side have been struggling on and off the field in the current year, with the club missing wage payments on several different times, including in the autumn.
"Obviously the club has become a significant problem for EFL and a significant problem for football," Kogan told.
"Wednesday stands as one of the great brands for the English game and in recent days we have met supporters' organizations.
"We are seeking authority... which will allow us to have Sheffield Wednesday - and other clubs referred to us if they require examination and acted upon."
Monetary Issues and Leadership Concerns
The club's controversial proprietor the Thai businessman suggested earlier this year he would be prepared to relinquish control at their home ground, but he has failed to complete a sale with interested parties.
Failure to pay player wages on time in earlier this year caused limitations by the football authorities in June, blocking the team from conducting any player acquisitions for the subsequent signing windows, although the ban was rescinded in late summer.
Official's Viewpoint
The chairman stated: "Our role exists to serve the fans of Sheffield Wednesday, teams facing challenges where people are committed to a regional establishment that has represented their community in numerous instances.
"I completely understand the team's plight, as I do for every team that since 1992 have gone to the wall, or approached financial ruin, 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, the chairman responded: "Should the inquiry concern 'would we intervene in the final instance?', the answer is once we collect the information and comprehend the circumstances, we will."
But the chairman emphasized that forcing owners to sell clubs would be viewed as the ultimate measure and the oversight body would choose to cooperate with proprietors.
"The last thing what we want to do is start getting involved with an particular organization, an specific proprietor, without being able to work with that owner to try and resolve 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 last 20 or 30 years there have been certain proprietors, not many, but certain individuals who have acted carelessly in the way which they've been managing their organizations and finally don't wish to take responsibility for the future."
Wednesday followers have been demonstrating against the team's chairman this season
'Errors may undo substantial development'
The chairman convened with officials from numerous teams to explain the responsibilities of the oversight body this week and stated it constituted a "proactive meeting" with a "substantial involvement" from the lower divisions to the top flight.
"This position carries substantial significance, because if errors are made, if the football community fails, the extraordinary progress that's been made could disappear swiftly," the regulator warned.
"Such an outcome is universally undesirable in the terms of English football is a major achievement - we need to continue the progress.
"Considerable investment entering the sport and has been invested for the past two decades, because there are no assurances it will keep flowing into the sport, which is among the factors explaining I think we have to take a really clear view on challenges and obviously, of the coming seasons."
Premier League Concerns
The Premier League opposed the establishment of an oversight body because of fears of a negative impact on the Premier League's sporting equality, but Kogan said: "I fully support the success and growth as an economic entity of the top division.
"Being fully aware of the worry about compromising the top flight as an elite competition of the nation. But at the same time, if you consult with top flight officials after today's meeting, they would have had a substantial amount of confidence -and, actually, they have been advising us privately they have a significant confidence."
Political Connections
The regulator remains subject to a "full inquiry" by the official appointments authority after he disclosed making donations to the opposition group in the past.
The chairman contributed funds to government minister Lisa Nandy's leadership campaign, along with that of the current Prime Minister.
"I have fully disclosed my former ideological connection [with Labour], and that political affiliation came to an end the day the select committee approved my appointment," the chairman stated.
"I am presently disconnected from any sort of politics."
