'Our role is integral to football's future' - newly appointed regulator the new chairman
The team's current difficulties are seen as a "major concern" and the football regulator is aiming to acquire authority to examine team situations in comparable cases, the newly appointed chairman the regulator has declared.
In a wide-ranging interview, the chairman, who was recently selected, showed understanding towards Wednesday's fanbase.
The chairman convened with four fan organizations connected to the South Yorkshire club in recent days.
The team have been struggling on and off the field in the current year, with the club delaying salary disbursements on multiple instances, including in September.
"Evidently Wednesday represents a serious issue for football authorities and a major challenge for the sport," the regulator explained.
"The club represents one of the iconic names for football in England and recently we have met fan representatives.
"Our aim is to acquire the ability... which will enable us to take Sheffield Wednesday - and other clubs brought to our attention if they require examination and addressed."
Economic Challenges and Proprietorship Status
The club's controversial proprietor the Thai businessman indicated in the summer he would be open to selling the club at their home ground, but he has not been able to secure a deal with interested parties.
Delayed salary payments on time in March and May caused limitations by the football authorities in June, stopping Wednesday from completing any player acquisitions for the next three transfer windows, although that restriction was lifted in August.
Official's Viewpoint
The regulator explained: "Our role exists to serve the fans of Sheffield Wednesday, other clubs in similar situations where supporters are loyal to a local institution that has represented their community in numerous instances.
"I completely understand the club's situation, as I do for every team that over recent decades have faced collapse, or been close to going to the wall, for factors unrelated to the fans themselves."
When asked if the authority might compel an proprietor to divest a club if they are judged inappropriate, Kogan said: "Should the inquiry concern 'would we intervene in the final instance?', the reply is once we collect the information and comprehend the circumstances, we will."
But the regulator clarified that requiring chairmen to relinquish clubs would be viewed as the ultimate measure and the authority would rather to work with them.
"Our least desirable course of action is start getting involved with an individual club, an specific proprietor, without being in a position to cooperate with that owner to try and resolve the issues that the club's facing and the chairman's encountering," Kogan said.
"However, realistically, when you review the record of the game, over the recent generations there have been some owners, a small minority, but certain individuals who have acted carelessly in the manner they have operated their organizations and finally decline to assume obligation for the future."
Owls fans have been demonstrating against owner Dejphon Chansiri in recent months
'If we get it wrong, extraordinary progress vanishes'
The chairman convened with representatives from 110 clubs to lay out the remit of the regulator on Wednesday and maintained it represented a "forward-thinking discussion" with a "significant participation" from the National League to the Premier League.
"It's a job that's actually really important, because if we get it wrong, if the football community fails, the extraordinary progress that's been made could disappear swiftly," Kogan said.
"Such an outcome is universally undesirable in the terms of English football is a huge success story - we need to continue the progress.
"There's an enormous amount of money coming into football and has been invested for the recent generations, because there are no assurances it will keep flowing into the sport, which is one of the reasons why I think we have to maintain a focused outlook on risk and of course, of the coming seasons."
Premier League Concerns
Elite division representatives objected to the formation of an authority because of concerns about detrimental effects on the Premier League's sporting equality, but the regulator stated: "I fully support the achievement and development as an commercial operation of the elite league.
"I of all people understand the apprehension regarding damaging the top flight as an elite competition of the nation. But at the same time, if you talk to the Premier League after this week's discussion, they would have had a substantial amount of confidence -and, in fact, they have been advising us privately they have a high level of reassurance."
Partisan Associations
The regulator remains subject to a "thorough examination" by the Commissioner for Public Appointments after he acknowledged providing funds to the political party in the past.
The 68-year-old donated money to government minister Lisa Nandy's leadership campaign, along with that of the now Prime Minister Sir Keir Starmer.
"I have been entirely transparent regarding my former ideological connection [with Labour], and that party membership ceased the day the select committee approved my appointment," the regulator explained.
"I currently have no participation in any type of partisan engagement."
