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Sheffield Wednesday's persistent issues represent a a "serious issue" and the new football authority is seeking powers to investigate clubs in comparable cases, the newly appointed chairman David Kogan has stated.

In a wide-ranging interview, the regulator, who was named to the position this week, showed understanding towards supporters of the Owls.

Kogan met with four fan organizations representing the Championship side this week.

The team have been experiencing difficulties in multiple areas in this season, with the club missing wage payments on five separate occasions, including in the autumn.

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

"The club represents one of the iconic names for football in England and this week we have met supporters' organizations.

"We are seeking authority... which will allow us to have the club and similar situations submitted for our review if they need to be investigated and dealt with."

Economic Challenges and Ownership Situation

The team's struggling chairman Dejphon Chansiri indicated in the summer he would be open to selling the club at Hillsborough, but he has been unable to finalize an agreement with interested parties.

Delayed salary payments on time in spring months led to sanctions by the league officials in June, stopping Wednesday from completing any player acquisitions for the following recruitment periods, although the ban was rescinded in August.

Official's Viewpoint

The regulator explained: "The job [of the regulator] is there for the Owls followers, teams facing challenges where people are committed to a community organization that has existed throughout their lifetimes in multiple situations.

"I fully appreciate the team's plight, as I do for all the clubs that in modern times have encountered failure, or approached financial ruin, for reasons that have nothing to do with the supporters."

Inquired if the authority might compel an owner to sell a club if they are judged inappropriate, the chairman responded: "If your question is 'would we intervene in the final instance?', the response would be once we gather the evidence and comprehend the circumstances, we will."

But the chairman emphasized that requiring chairmen to relinquish clubs would be considered the final option and the authority would rather to collaborate with owners.

"The final option we would consider is start getting involved with an specific team, an individual owner, without being able to work with that proprietor to address the challenges confronting the team and the owner's facing," the chairman stated.

"In actuality, when you examine the past of the game, over the recent generations there have been particular chairmen, not many, but certain individuals who have acted carelessly in the approach they have taken toward their teams and eventually refuse to accept accountability for the future."

'Errors may undo substantial development'

The chairman convened with representatives from 110 clubs to detail the scope of the oversight body this week and maintained it represented a "proactive meeting" 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 extraordinary progress that's been made necessary will vanish incredibly quickly," the regulator warned.

"Such an outcome is universally undesirable in the context of the English game is a substantial accomplishment - we've got to keep it going.

"Considerable investment coming into football and has been invested for the last 20 or 25 years, because certainty is lacking it will continue to come into football, which is among the factors explaining I think we have to maintain a focused outlook on potential dangers and naturally, of the next two or three years."

Top Flight Apprehensions

Elite division representatives objected to the establishment of an oversight body because of apprehensions regarding adverse consequences on the elite division's competitive balance, but the regulator stated: "I'm absolutely committed to the success and growth as an economic entity of the top division.

"Being fully aware of the concern of undermining the division as a high-quality offering of the nation. But at the same time, if you engage with division representatives after this week's discussion, they would have had a significant degree of comfort -and, in fact, they have been telling us in private they have a high level of reassurance."

Partisan Associations

The regulator remains subject to a "thorough examination" by the official appointments authority after he disclosed making donations to the opposition group in the past.

The chairman contributed funds to Culture Secretary Lisa Nandy's leadership campaign, along with that of the current Prime Minister.

"I have fully disclosed my past party membership [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 form of political activity."