'Our role is integral to football's future' - football oversight chief David Kogan
The Championship club's current difficulties are seen as a "significant problem" and the new football authority is seeking powers to examine team situations in similar circumstances, the recently named head the official has declared.
In a wide-ranging interview, the chairman, who was appointed on Monday, showed understanding towards the club's followers.
The regulator engaged with four supporters' associations connected to the football team in recent days.
The football club have been facing challenges both on and off the pitch in this season, with the club delaying salary disbursements on five separate occasions, including in last month.
"Evidently Wednesday represents a significant problem for EFL and a substantial concern for English football," the chairman stated.
"The club represents one of the great brands for football in England and recently we have met fan representatives.
"Our aim is to acquire the ability... which will permit us to bring the club and similar situations referred to us if they need to be investigated and addressed."
Monetary Issues and Proprietorship Status
Wednesday's embattled owner the Thai businessman 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.
Missed wage deadlines on time in earlier this year resulted in restrictions being imposed by the football authorities in summer, preventing the club from carrying out any transfers or loans for the next three transfer windows, although those limitations were removed in late summer.
Official's Viewpoint
The chairman stated: "The position was created for the supporters of Wednesday, other clubs in similar situations where supporters are loyal to a regional establishment that has represented their community in numerous instances.
"I completely understand the club's situation, as I do for each organization that in modern times have encountered failure, or nearly ceased operations, for causes separate from the supporters."
Questioned about whether the authority might compel an owner to sell a club if they are judged inappropriate, Kogan said: "When asking whether 'would we intervene in the final instance?', the answer is once we collect the information and know what's going on, we will."
But the chairman emphasized that requiring chairmen to relinquish clubs would be treated as a "last resort" 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 particular chairman, without having the opportunity to collaborate with that proprietor to address the problems affecting the organization and the proprietor's dealing with," the chairman stated.
"However, realistically, when you look back over the history of the sport, over the last 20 or 30 years there have been certain proprietors, few in number, but particular people who have shown negligence in the way which they've been managing their organizations and finally don't wish to take responsibility for the future."
Owls fans have been demonstrating against the team's chairman during the current campaign
'If we get it wrong, extraordinary progress vanishes'
Kogan met with representatives from 110 clubs to detail the scope of the authority recently and maintained it represented a "proactive meeting" with a "significant participation" from the grassroots to elite level.
"The role holds considerable importance, because should mistakes occur, if the football community fails, the remarkable development accomplished necessary will vanish rapidly," Kogan said.
"And that's what nobody wants in the realm of domestic football is a substantial accomplishment - we need to continue the progress.
"Considerable investment entering the sport and has been channeled for the past two decades, 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 next two or three years."
Elite Division Worries
The Premier League opposed the formation of an authority because of fears of a negative impact on the elite division's competitive balance, but the chairman responded: "I'm absolutely committed to the achievement and development as an financial organization of the Premier League.
"Being fully aware of the worry about compromising the top flight as an elite competition of the nation. But concurrently, if you talk to the Premier League after the recent gathering, they would have had a high level of reassurance -and, in fact, they have been informing us confidentially they have a considerable comfort."
Political Connections
The chairman continues to confront a "comprehensive investigation" by the official appointments authority after he revealed he contributed money to the Labour Party in the past.
The official donated money to government minister Lisa Nandy's leadership campaign, along with that of the government leader.
"I've been completely open about my past party membership [with Labour], and that party membership ceased the day the select committee approved my appointment," the chairman stated.
"I am no longer involved in any form of political activity."
