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The Championship club's ongoing struggles represent a a "serious issue" and the football regulator is seeking powers to examine team situations in similar circumstances, the newly appointed chairman the official has announced.

Through a comprehensive talk, Kogan, who was appointed on Monday, showed understanding towards Wednesday's fanbase.

The regulator engaged with four supporters' associations connected to the Championship side this week.

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

"Clearly Sheffield Wednesday has been a major concern for the league and a substantial concern for English football," the regulator explained.

"Sheffield Wednesday is one of the great brands for football in England and recently we have met supporters' organizations.

"We are seeking authority... which will allow us to have Sheffield Wednesday - and other clubs submitted for our review if they need to be investigated and acted upon."

Economic Challenges and Proprietorship Status

The club's controversial proprietor the Thai businessman suggested earlier this year he would be willing to sell up at their home ground, but he has failed to complete a sale with prospective buyers.

Failure to pay player wages on time in March and May caused limitations by the football authorities in mid-year, stopping Wednesday from completing any recruitment activities for the subsequent signing windows, although that restriction was lifted in August.

Authority's Position

Kogan said: "The position was created for the Owls followers, Bury or any football club where people are committed to a local institution that has existed throughout their lifetimes in many cases.

"I have absolute sympathy for the team's plight, as I do for all the clubs that over recent decades have faced collapse, or approached financial ruin, for reasons that have nothing to do with the followers."

Questioned about whether the authority might compel an chairman to relinquish a club if they are deemed unsuitable, the chairman responded: "If your question is 'would we intervene in the final instance?', the response would be once we assemble the facts and understand the situation, we will."

But the regulator clarified that compelling proprietors to divest clubs would be viewed as the ultimate measure and the oversight body would choose to collaborate with owners.

"Our least desirable course of action is commence engagement with an specific team, an particular chairman, without being in a position to cooperate with that owner to try and resolve the challenges confronting the team and the proprietor's dealing with," Kogan said.

"In actuality, when you look back over the history of the game, over the last 20 or 30 years there have been some owners, not many, but certain individuals who have acted carelessly in the way which they've been managing their teams and eventually decline to assume obligation for the coming years."

'Mistakes could erase significant advances'

The regulator engaged delegates from multiple organizations to lay out the remit of the authority recently and insisted it was a "proactive meeting" with a "significant participation" from the grassroots to elite level.

"The role holds considerable importance, because should mistakes occur, if the world of football gets it wrong, the remarkable development accomplished might evaporate rapidly," the regulator warned.

"This represents everyone's worst fear in the context of the English game is a huge success story - we must maintain momentum.

"Substantial financial resources flowing into the game and has come into football for the last 20 or 25 years, because there's no guarantee it will continue to come into football, which is one of the reasons why I think we have to maintain a focused outlook on potential dangers and naturally, of the coming seasons."

Elite Division Worries

Elite division representatives objected to the creation of a regulator because of apprehensions regarding adverse consequences on the elite division's competitive balance, but the regulator stated: "I'm absolutely committed to the achievement and development as an economic entity of the Premier League.

"As someone who appreciates the apprehension regarding damaging the division as a high-quality offering of England. But concurrently, if you engage with division representatives after today's meeting, they would have had a significant degree of comfort -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 public appointments commissioner after he disclosed making donations to the political party in recent years.

The chairman contributed funds to Culture Secretary the politician's campaign, along with that of the government leader.

"I've been completely open about my past party membership [with Labour], and that ideological connection terminated the day the parliamentary committee confirmed my selection," Kogan said.

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