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Sheffield Wednesday's ongoing struggles are seen as a "serious issue" and the football regulator is looking to gain the ability to investigate clubs in comparable cases, the newly appointed chairman the regulator has stated.

Through a comprehensive talk, the regulator, who was appointed on Monday, expressed "sympathy" towards supporters of the Owls.

Kogan met with four fan organizations connected to the South Yorkshire club in recent days.

The team have been struggling on and off the field in the current year, with the club delaying salary disbursements on several different times, including in the autumn.

"Evidently Wednesday represents a major concern for the league and a major challenge for the sport," Kogan told.

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

"We are seeking authority... which will allow us to have Sheffield Wednesday - and other clubs brought to our attention if they require examination and addressed."

Monetary Issues and Ownership Situation

The club's controversial proprietor the current owner stated during the off-season he would be open to selling the club at the stadium, but he has failed to complete a sale with potential new owners.

Delayed salary payments on time in spring months led to sanctions by the league officials in summer, preventing the club from carrying out any transfers or loans for the next three transfer windows, although those limitations were removed in the end of the transfer window.

Authority's Position

The regulator explained: "The position was created for the supporters of Wednesday, Bury or any football club where people are committed to a local institution that has been part of their lives in multiple situations.

"I fully appreciate Sheffield Wednesday, as I do for all the clubs that over recent decades have faced collapse, or nearly ceased operations, for reasons that have nothing to do with the fans themselves."

Questioned about whether the oversight body could require an proprietor to divest a club if they are deemed unsuitable, Kogan said: "Should the inquiry concern 'would we intervene in the final instance?', the response would be once we gather the evidence and understand the situation, we will."

But the chairman emphasized that compelling proprietors to divest clubs would be treated as a "last resort" and the regulator would prefer to work with them.

"Our least desirable course of action is commence engagement with an specific team, an particular chairman, without being able to work with that chairman to fix the challenges confronting the team and the owner's facing," the chairman stated.

"But the truth is, when you look back over the history of the game, over the past few decades there have been particular chairmen, not many, but some who have been irresponsible in the approach they have taken toward their teams and eventually don't wish to take responsibility for the long-term prospects."

'If we get it wrong, extraordinary progress vanishes'

Kogan met with delegates from multiple organizations to detail the scope of the regulator on Wednesday and insisted it was a "progressive gathering" with a "substantial involvement" from the lower divisions to the top flight.

"The role holds considerable importance, because if we get it wrong, if the football community fails, the extraordinary progress that's been made necessary will vanish swiftly," Kogan said.

"And that's what nobody wants in the realm of domestic football is a substantial accomplishment - we've got to keep it going.

"There's an enormous amount of money entering the sport and has been channeled for the past two decades, 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 challenges and obviously, of the immediate future."

Elite Division Worries

Elite division representatives objected to the formation of an authority because of concerns about detrimental effects on the top-flight's competitiveness, but the chairman responded: "I completely endorse the prosperity and expansion as an financial organization of the elite league.

"Being fully aware of the worry about compromising the top flight as an elite competition of the nation. But at the same time, if you engage with division representatives 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."

Political Connections

The chairman continues to confront a "comprehensive investigation" by the official appointments authority after he disclosed making donations to the opposition group in the past.

The official contributed funds to Secretary of State for Culture, Media and Sport the minister's leadership bid, along with that of the now Prime Minister Sir Keir Starmer.

"I have fully disclosed my previous political affiliation [with Labour], and that political affiliation came to an end the day the official body endorsed my nomination," the chairman stated.

"I am no longer involved in any form of political activity."