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

In a wide-ranging interview, the chairman, who was recently selected, expressed "sympathy" towards supporters of the Owls.

The regulator engaged with four fan organizations connected to the South Yorkshire club recently.

The football club have been facing challenges both on and off the pitch in the current year, with the club failing to pay players on time on five separate occasions, including in the autumn.

"Evidently Wednesday represents a significant problem for EFL and a major challenge for the sport," the chairman stated.

"Sheffield Wednesday is one of the historic institutions for football in England and in recent days we have met fan representatives.

"We are seeking authority... which will permit us to bring Wednesday and comparable cases submitted for our review if they need to be investigated and addressed."

Financial Struggles and Ownership Situation

The team's struggling chairman the Thai businessman stated during the off-season he would be willing to sell up at the stadium, but he has failed to complete a sale with prospective buyers.

Delayed salary payments on time in March and May resulted in restrictions being imposed by the football authorities in mid-year, preventing the club from carrying out any player acquisitions for the next three transfer windows, although those limitations were removed in August.

Official's Viewpoint

Kogan said: "Our role exists to serve the Owls followers, Bury or any football club where supporters are loyal to a regional establishment that has been part of their lives in multiple situations.

"I have absolute sympathy for the club's situation, as I do for every team that since 1992 have gone to the wall, or been close to going to the wall, for reasons that have nothing to do with the followers."

When asked if the oversight body could require an chairman to relinquish a club if they are judged inappropriate, the chairman responded: "Should the inquiry concern 'would we intervene in the final instance?', the reply is once we gather the evidence and know what's going on, we will."

But Kogan stressed that forcing owners to sell clubs would be considered the final option and the regulator would prefer to collaborate with owners.

"Our least desirable course of action is start getting involved with an particular organization, an particular chairman, without having the opportunity to collaborate with that proprietor to address the problems affecting the organization and the proprietor's dealing with," the regulator explained.

"But the truth is, when you look back over the history of the sport, over the past few decades there have been particular chairmen, not many, but some who have been irresponsible in the manner they have operated their clubs and ultimately refuse to accept accountability for the coming years."

'Mistakes could erase significant advances'

The regulator engaged representatives from 110 clubs to lay out the remit of the oversight body this week and stated it constituted a "forward-thinking discussion" with a "significant participation" from the National League to the Premier League.

"The role holds considerable importance, because should mistakes occur, if the football community fails, the significant advances achieved necessary will vanish incredibly quickly," the regulator warned.

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

"Substantial financial resources flowing into the game and has been invested for the last 20 or 25 years, because there's no guarantee it will continue to come into football, which is among the factors explaining I think we have to maintain a focused outlook on challenges and obviously, of the next two or three years."

Top Flight Apprehensions

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 fully support the success and growth as an commercial operation of the top division.

"As someone who appreciates the worry about compromising the division as a high-quality offering of England. But at the same time, if you consult with top flight officials after the recent gathering, they would have had a substantial amount of confidence -and, actually, they have been telling us in private they have a significant confidence."

Partisan Associations

The chairman continues to confront a "thorough examination" by the Commissioner for Public Appointments after he acknowledged providing funds to the opposition group in the past.

The official provided financial support for Secretary of State for Culture, Media and Sport the politician's campaign, along with that of the government leader.

"I have fully disclosed my previous political affiliation [with Labour], and that political affiliation came to an end the day the select committee approved my appointment," Kogan said.

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