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The Championship club's current difficulties are seen as a "major concern" and the football regulator is seeking powers to examine team situations in similar circumstances, its new chair the regulator has stated.

In a wide-ranging interview, the chairman, who was appointed on Monday, voiced concern towards Wednesday's fanbase.

The regulator engaged with four fan organizations representing the football team this week.

The Championship side have been experiencing difficulties in multiple areas in this season, with the club delaying salary disbursements on several different times, including in September.

"Clearly Sheffield Wednesday has been a serious issue for football authorities and a substantial concern for English football," the chairman stated.

"The club represents one of the great brands for the English game and this week we have met Sheffield Wednesday supporters' groups.

"We are seeking authority... which will enable us to take Sheffield Wednesday - and other clubs referred to us if they warrant scrutiny and addressed."

Economic Challenges and Proprietorship Status

The team's struggling chairman the Thai businessman stated during the off-season he would be prepared to relinquish control at their home ground, but he has not been able to secure a deal with potential new owners.

Failure to pay player wages on time in March and May led to sanctions by the English Football League (EFL) in mid-year, stopping Wednesday from completing any recruitment activities for the subsequent signing windows, although those limitations were removed in late summer.

Official's Viewpoint

Kogan said: "The job [of the regulator] is there for the fans of Sheffield Wednesday, other clubs in similar situations where supporters are loyal to a local institution that has represented their community in many cases.

"I have absolute sympathy for the club's situation, as I do for each organization that since 1992 have gone to the wall, or nearly ceased operations, for factors unrelated to the supporters."

Questioned about whether the regulator could force an proprietor to divest a club if they are deemed unsuitable, the regulator answered: "When asking whether 'would we intervene in the final instance?', the reply is once we collect the information and understand the situation, we will."

But Kogan stressed that compelling proprietors to divest clubs would be considered the final option 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 being in a position to cooperate with that chairman to fix the challenges confronting the team and the proprietor's dealing with," Kogan said.

"But the truth is, when you review the record of the sport, over the past few decades there have been some owners, a small minority, but certain individuals who have acted carelessly in the manner they have operated their teams and eventually refuse to accept accountability for the coming years."

'Mistakes could erase significant advances'

Kogan met with officials from numerous teams to detail the scope of the oversight body this week and stated it constituted a "proactive meeting" with a "substantial involvement" from the National League to the Premier League.

"The role holds considerable importance, because if errors are made, if the sport makes errors, the extraordinary progress that's been made might evaporate swiftly," Kogan said.

"This represents everyone's worst fear in the realm of domestic football is a huge success story - we've got to keep it going.

"There's an enormous amount of money coming into football and has come into football for the past two decades, because there are no assurances it will persist in entering the game, which is part of the rationale behind I think we have to take a really clear view on challenges and obviously, of the next two or three years."

Elite Division Worries

Elite division representatives objected to the formation of an authority because of concerns about detrimental effects on the Premier League's sporting equality, but Kogan said: "I fully support the success and growth as an commercial operation of the elite league.

"I of all people understand the apprehension regarding damaging the Premier League as a premium product of this country. But concurrently, if you engage with division representatives after today's meeting, they would have had a high level of reassurance -and, actually, they have been advising us privately they have a high level of reassurance."

Ideological Links

The chairman continues to confront a "full inquiry" by the Commissioner for Public Appointments after he acknowledged providing funds to the Labour Party in the past.

The 68-year-old provided financial support for Culture Secretary Lisa Nandy's leadership campaign, along with that of the current Prime Minister.

"I've been completely open about my past party membership [with Labour], and that party membership ceased the day the official body endorsed my nomination," the chairman stated.

"I am no longer involved in any form of political activity."