'Our role is integral to football's future' - newly appointed regulator the new chairman
The team's current difficulties constitute a "major concern" and the new football authority is aiming to acquire authority to examine team situations in comparable cases, the newly appointed chairman David Kogan has announced.
During an extensive discussion, Kogan, who was recently selected, expressed "sympathy" towards the club's followers.
The regulator engaged with four supporter groups associated with the Championship side recently.
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 multiple instances, including in the autumn.
"Evidently Wednesday represents a serious issue for football authorities and a substantial concern for English football," the regulator explained.
"The club represents one of the historic institutions for football in England and in recent days we have met fan representatives.
"We are seeking authority... which will allow us to have Wednesday and comparable cases submitted for our review if they warrant scrutiny and acted upon."
Monetary Issues and Leadership Concerns
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.
Failure to pay player wages on time in March and May led to sanctions by the league officials in June, stopping Wednesday from completing any recruitment activities for the subsequent signing windows, although the ban was rescinded in August.
Regulator's Perspective
Kogan said: "Our role exists to serve the supporters of Wednesday, other clubs in similar situations where fans are dedicated to a regional establishment that has existed throughout their lifetimes in numerous instances.
"I fully appreciate the team's plight, as I do for each organization 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 followers."
Inquired if the regulator could force an chairman to relinquish a club if they are judged inappropriate, the regulator answered: "Should the inquiry concern 'would we intervene in the final instance?', the reply is once we assemble the facts and understand the situation, we will."
But Kogan stressed that forcing owners to sell clubs would be considered the final option and the authority would rather 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 owner to try and resolve the issues that the club's facing and the owner's facing," the regulator explained.
"However, realistically, when you examine the past of football, over the past few decades there have been some owners, a small minority, but particular people who have shown negligence in the approach they have taken toward their clubs and ultimately refuse to accept accountability for the long-term prospects."
Wednesday followers have been protesting against the current proprietor in recent months
'If we get it wrong, extraordinary progress vanishes'
Kogan met with delegates from multiple organizations to lay out the remit of the oversight body this week and insisted it was a "progressive gathering" with a "high level of engagement" from the lower divisions to the top flight.
"It's a job that's actually really important, because if we get it wrong, if the sport makes errors, the extraordinary progress that's been made might evaporate incredibly quickly," the chairman stated.
"This represents everyone's worst fear in the terms of English football is a major achievement - we've got to keep it going.
"Substantial financial resources flowing into the game and has been invested for the recent generations, because there's no guarantee it will continue to come into football, which is one of the reasons why I think we have to adopt a precise perspective on risk and of course, of the next two or three years."
Top Flight Apprehensions
Top flight officials resisted the creation of a regulator because of apprehensions regarding adverse consequences on the Premier League's sporting equality, but Kogan said: "I completely endorse the prosperity and expansion as an economic entity of the Premier League.
"I of all people understand the concern of undermining the top flight as an elite competition of this country. But at the same time, if you talk to the Premier League after this week's discussion, they would have had a high level of reassurance -and, in fact, they have been telling us in private they have a significant confidence."
Ideological Links
Kogan is still facing a "thorough examination" by the Commissioner for Public Appointments after he acknowledged providing funds to the Labour Party in the past.
The 68-year-old contributed funds to Secretary of State for Culture, Media and Sport 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 party membership ceased the day the select committee approved my appointment," Kogan said.
"I currently have no participation in any type of partisan engagement."
