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Sheffield Wednesday's ongoing struggles are seen as a "significant problem" and the football regulator is looking to gain the ability to look into club affairs in such situations, the newly appointed chairman the regulator has announced.

During an extensive discussion, the regulator, who was appointed on Monday, expressed "sympathy" towards Wednesday's fanbase.

Kogan met with four supporter groups connected to the Championship side recently.

The team have been experiencing difficulties in multiple areas in the current year, with the club failing to pay players on time on multiple instances, including in September.

"Evidently Wednesday represents a major concern for the league and a significant problem for football," the regulator explained.

"Wednesday stands as one of the great brands for the English game and this week we have met supporters' organizations.

"We are seeking authority... which will enable us to take Sheffield Wednesday - and other clubs brought to our attention if they warrant scrutiny and acted upon."

Economic Challenges and Proprietorship Status

The team's struggling chairman the Thai businessman indicated in the summer he would be willing to sell up at the stadium, but he has not been able to secure a deal with prospective buyers.

Missed wage deadlines on time in earlier this year led to sanctions by the football authorities in summer, preventing the club from carrying out any recruitment activities for the following recruitment periods, although that restriction was lifted in August.

Regulator's Perspective

The chairman stated: "The position was created for the Owls followers, Bury or any football club where supporters are loyal to a community organization that has existed throughout their lifetimes in multiple situations.

"I have absolute sympathy for Sheffield Wednesday, as I do for every team that over recent decades have faced collapse, or been close to going to the wall, for reasons that have nothing to do with the supporters."

Questioned about whether the authority might compel an chairman to relinquish a club if they are deemed unsuitable, Kogan said: "If your question is 'would we intervene in the final instance?', the answer is once we assemble the facts and know what's going on, we will."

But the chairman emphasized that forcing owners to sell clubs would be considered the final option and the authority would rather to cooperate with proprietors.

"The final option we would consider is begin intervening in an particular organization, an individual owner, without being able to work with that owner to try and resolve the challenges confronting the team and the proprietor's dealing with," the regulator explained.

"However, realistically, when you look back over the history of the game, over the recent generations there have been particular chairmen, few in number, but particular people who have shown negligence in the approach they have taken toward their clubs and ultimately don't wish to take responsibility for the coming years."

'Mistakes could erase significant advances'

The chairman convened with delegates from multiple organizations to explain the responsibilities of the authority recently and maintained it represented a "forward-thinking discussion" with a "high level of engagement" from the lower divisions to the top flight.

"This position carries substantial significance, because if errors are made, if the sport makes errors, the remarkable development accomplished could disappear rapidly," the regulator warned.

"This represents everyone's worst fear in the terms of English football is a substantial accomplishment - we've got to keep it going.

"Considerable investment entering the sport and has been channeled for the recent generations, because there's no guarantee it will continue to come into football, which is among the factors explaining I think we have to adopt a precise perspective 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 chairman responded: "I'm absolutely committed to the prosperity and expansion as an financial organization of the elite league.

"As someone who appreciates the worry about compromising the Premier League as a premium product of England. But simultaneously, if you consult with top flight officials after this week's discussion, they would have had a substantial amount of confidence -and, indeed, they have been advising us privately they have a considerable comfort."

Political Connections

The chairman continues to confront a "thorough examination" by the official appointments authority after he acknowledged providing funds to the political party in recent years.

The 68-year-old contributed funds to Secretary of State for Culture, Media and Sport the politician's campaign, along with that of the now Prime Minister Sir Keir Starmer.

"I have fully disclosed my past party membership [with Labour], and that party membership ceased the day the parliamentary committee confirmed my selection," Kogan said.

"I am presently disconnected from any type of partisan engagement."