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Sheffield Wednesday's ongoing struggles represent a a "serious issue" and the football regulator is seeking powers to examine team situations in comparable cases, the newly appointed chairman the regulator has announced.

Through a comprehensive talk, the chairman, who was named to the position this week, expressed "sympathy" towards supporters of the Owls.

The regulator engaged with four supporters' associations associated with the Championship side in recent days.

The football club 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.

"Obviously the club has become a major concern for the league and a major challenge for the sport," Kogan told.

"The club represents one of the great brands for football in England and in recent days we have met Sheffield Wednesday supporters' groups.

"Our aim is to acquire the ability... which will allow us to have Wednesday and comparable cases referred to us if they require examination and dealt with."

Economic Challenges 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.

Failure to pay player wages on time in March and May resulted in restrictions being imposed by the English Football League (EFL) in mid-year, blocking the team from conducting any player acquisitions for the next three transfer windows, although that restriction was lifted in the end of the transfer window.

Official's Viewpoint

Kogan said: "The position was created for the Owls followers, other clubs in similar situations where supporters are loyal to a community organization that has represented their community in numerous instances.

"I fully appreciate the club's situation, as I do for all the clubs that in modern times have encountered failure, or approached financial ruin, for factors unrelated to the fans themselves."

Inquired if the authority might compel an chairman to relinquish a club if they are judged inappropriate, the regulator answered: "If your question is 'would we intervene in the final instance?', the response would be once we gather the evidence and understand the situation, we will."

But Kogan stressed that requiring chairmen to relinquish clubs would be viewed as the ultimate measure and the authority would rather to work with them.

"The last thing what we want to do is commence engagement with an specific team, an individual owner, without having the opportunity to collaborate with that proprietor to address the problems affecting the organization and the owner's facing," Kogan said.

"But the truth is, when you examine the past of the game, over the past few decades there have been some owners, a small minority, but certain individuals who have acted carelessly in the approach they have taken toward their organizations and finally refuse to accept accountability for the future."

'Errors may undo substantial development'

Kogan met with officials from numerous teams to detail the scope of the authority recently and maintained it represented a "forward-thinking discussion" with a "substantial involvement" from the grassroots to elite level.

"It's a job that's actually really important, because if we get it wrong, if the world of football gets it wrong, the significant advances achieved might evaporate rapidly," the regulator warned.

"Such an outcome is universally undesirable in the realm of domestic football is a huge success story - we need to continue the progress.

"Considerable investment entering the sport and has been channeled for the last 20 or 25 years, because there's no guarantee it will persist in entering the game, which is one of the reasons why I think we have to take a really clear view on risk and of course, of the next two or three years."

Top Flight Apprehensions

Top flight officials resisted the establishment of an oversight body because of concerns about detrimental effects on the Premier League's sporting equality, but the chairman responded: "I completely endorse the achievement and development as an commercial operation of the Premier League.

"As someone who appreciates the worry about compromising the division as a high-quality offering of this country. But simultaneously, 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 high level of reassurance."

Political Connections

The regulator remains subject to a "comprehensive investigation" by the Commissioner for Public Appointments after he revealed he contributed money to the opposition group in the past.

The chairman donated money to Culture Secretary the politician's campaign, along with that of the current Prime Minister.

"I have been entirely transparent regarding my previous political affiliation [with Labour], and that party membership ceased the day the parliamentary committee confirmed my selection," the chairman stated.

"I am presently disconnected from any sort of politics."