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Sheffield Wednesday's ongoing struggles represent a a "significant problem" and the football regulator is aiming to acquire authority to investigate clubs in such situations, the newly appointed chairman the regulator has declared.

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

The chairman convened with four supporter groups associated with the Championship side in recent days.

The football club have been facing challenges both on and off the pitch in the current year, with the club delaying salary disbursements on several different times, including in last month.

"Evidently Wednesday represents a major concern for the league and a major challenge for the sport," the regulator explained.

"Wednesday stands as one of the historic institutions for football in England and in recent days we have met Sheffield Wednesday supporters' groups.

"Our aim is to acquire the ability... which will permit us to bring the club and similar situations brought to our attention if they require examination and dealt with."

Financial Struggles and Ownership Situation

The club's controversial proprietor the current owner suggested earlier this year he would be prepared to relinquish control at Hillsborough, but he has been unable to finalize an agreement with interested parties.

Delayed salary payments on time in spring months caused limitations by the English Football League (EFL) in summer, stopping Wednesday from completing any recruitment activities for the following recruitment periods, although the ban was rescinded in the end of the transfer window.

Official's Viewpoint

The chairman stated: "The job [of the regulator] is there for the supporters of Wednesday, teams facing challenges where supporters are loyal to a local institution that has represented their community in numerous instances.

"I fully appreciate Sheffield Wednesday, as I do for every team that in modern times have encountered failure, or nearly ceased operations, for causes separate from the supporters."

Inquired if the oversight body could require an proprietor to divest a club if they are judged inappropriate, Kogan said: "When asking whether 'would we intervene in the final instance?', the answer is once we assemble the facts and comprehend the circumstances, we will."

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

"The last thing what we want to do is start getting involved with an individual club, an particular chairman, without having the opportunity to collaborate with that chairman to fix the issues that the club's facing and the chairman's encountering," the chairman stated.

"But the truth is, when you review the record of the game, over the last 20 or 30 years there have been certain proprietors, not many, but some who have been irresponsible in the way which they've been managing their clubs and ultimately refuse to accept accountability for the future."

'If we get it wrong, extraordinary progress vanishes'

The regulator engaged delegates from multiple organizations to detail the scope of the authority recently and maintained it represented a "proactive meeting" with a "substantial involvement" 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 could disappear swiftly," Kogan said.

"And that's what nobody wants in the context of the English game is a huge success story - we need to continue the progress.

"There's an enormous amount of money flowing into the game and has been channeled for the last 20 or 25 years, because certainty is lacking it will keep flowing into the sport, which is among the factors explaining I think we have to adopt a precise perspective on potential dangers and naturally, of the immediate future."

Top Flight Apprehensions

Top flight officials resisted the formation of an authority because of apprehensions regarding adverse consequences on the Premier League's sporting equality, but the chairman responded: "I'm absolutely committed to the achievement and development as an economic entity of the Premier League.

"As someone who appreciates the worry about compromising the division as a high-quality offering of the nation. But concurrently, if you talk to the Premier League after today's meeting, they would have had a substantial amount of confidence -and, in fact, they have been telling us in private they have a considerable comfort."

Partisan Associations

The chairman continues to confront a "thorough examination" by the official appointments authority after he revealed he contributed money to the political party in 2020.

The chairman provided financial support for government minister the politician's campaign, along with that of the now Prime Minister Sir Keir Starmer.

"I have fully disclosed my previous political affiliation [with Labour], and that party membership ceased the day the parliamentary committee confirmed my selection," the regulator explained.

"I currently have no participation in any sort of politics."