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Sheffield Wednesday's current difficulties constitute a "major concern" and the football regulator is looking to gain the ability to look into club affairs in similar circumstances, the newly appointed chairman the official has stated.

Through a comprehensive talk, the chairman, who was appointed on Monday, voiced concern towards the club's followers.

The regulator engaged with four supporter groups connected to the football team in recent days.

The Championship side have been struggling on and off the field in this season, with the club missing wage payments on multiple instances, including in the autumn.

"Obviously the club has become a significant problem for EFL and a significant problem for football," the regulator explained.

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

"Our aim is to acquire the ability... which will enable us to take the club and similar situations submitted for our review if they need to be investigated and acted upon."

Economic Challenges and Ownership Situation

The team's struggling chairman the current owner stated during the off-season he would be prepared to relinquish control at Hillsborough, but he has failed to complete a sale with prospective buyers.

Missed wage deadlines on time in spring months resulted in restrictions being imposed by the English Football League (EFL) in mid-year, blocking the team from conducting any recruitment activities for the next three transfer windows, although those limitations were removed in late summer.

Authority's Position

The chairman stated: "Our role exists to serve the Owls followers, teams facing challenges where supporters are loyal to a community organization that has been part of their lives in multiple situations.

"I fully appreciate Sheffield Wednesday, as I do for each organization that in modern times have encountered failure, or been close to going to the wall, for causes separate from the fans themselves."

Inquired if the regulator could force an owner to sell a club if they are deemed unsuitable, Kogan said: "If your question is 'would we intervene in the final instance?', the answer is once we gather the evidence and know what's going on, we will."

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

"The final option we would consider is commence engagement with an specific team, an particular chairman, without having the opportunity to collaborate with that chairman to fix the issues that the club's facing and the proprietor's dealing with," Kogan said.

"However, realistically, when you examine the past of football, over the past few decades there have been some owners, not many, but certain individuals who have acted carelessly in the approach they have taken toward their organizations and finally refuse to accept accountability for the future."

'If we get it wrong, extraordinary progress vanishes'

The chairman convened with officials from numerous teams to explain the responsibilities of the regulator on Wednesday and stated it constituted a "progressive gathering" with a "significant participation" from the grassroots to elite level.

"The role holds considerable importance, because if we get it wrong, if the sport makes errors, the significant advances achieved could disappear rapidly," Kogan said.

"And that's what nobody wants in the terms of English football is a huge success story - we've got to keep it going.

"There's an enormous amount of money flowing into the game and has been invested for the recent generations, because certainty is lacking it will continue to come into football, which is part of the rationale behind I think we have to maintain a focused outlook on risk and of course, of the coming seasons."

Premier League Concerns

Top flight officials resisted the formation of an authority because of fears of a negative impact on the Premier League's sporting equality, but the chairman responded: "I completely endorse the prosperity and expansion as an economic entity of the elite league.

"I of all people understand the concern of undermining the division as a high-quality offering of this country. But simultaneously, if you talk to the Premier League after this week's discussion, they would have had a significant degree of comfort -and, indeed, they have been informing us confidentially they have a considerable comfort."

Partisan Associations

The regulator remains subject to a "comprehensive investigation" by the Commissioner for Public Appointments after he revealed he contributed money to the opposition group in 2020.

The chairman provided financial support for Culture Secretary the politician's campaign, along with that of the current Prime Minister.

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

"I am no longer involved in any sort of politics."