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The Championship club's current difficulties represent a a "serious issue" and the independent regulator is seeking powers to examine team situations in such situations, its new chair the regulator has announced.

In a wide-ranging interview, the chairman, who was appointed on Monday, showed understanding towards the club's followers.

Kogan met with four supporter groups representing the South Yorkshire club recently.

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

"Obviously the club has become a serious issue for football authorities and a major challenge for the sport," the regulator explained.

"The club represents one of the iconic names for the English game and in recent days we have met Sheffield Wednesday supporters' groups.

"Our aim is to acquire the ability... which will allow us to have Wednesday and comparable cases submitted for our review if they need to be investigated and dealt with."

Financial Struggles and Ownership Situation

The team's struggling chairman the current owner stated during the off-season he would be willing to sell up at the stadium, but he has failed to complete a sale with interested parties.

Delayed salary payments on time in March and May led to sanctions by the football authorities in mid-year, blocking the team from conducting any player acquisitions for the subsequent signing windows, although the ban was rescinded in late summer.

Official's Viewpoint

Kogan said: "Our role exists to serve the supporters of Wednesday, other clubs in similar situations where supporters are loyal to a community organization that has existed throughout their lifetimes in multiple situations.

"I have absolute sympathy for Sheffield Wednesday, as I do for each organization 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 supporters."

Questioned about whether the regulator could force an owner to sell a club if they are deemed unsuitable, the regulator answered: "When asking whether '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 requiring chairmen to relinquish clubs would be treated as a "last resort" and the oversight body would choose to work with them.

"The final option we would consider is begin intervening in an particular organization, an particular chairman, without having the opportunity to collaborate with that owner to try and resolve the problems affecting the organization and the proprietor's dealing with," Kogan said.

"However, realistically, when you review the record of the sport, over the recent generations there have been some owners, a small minority, but certain individuals who have acted carelessly in the manner they have operated their clubs and ultimately decline to assume obligation for the future."

'Mistakes could erase significant advances'

The regulator engaged officials from numerous teams to lay out the remit of the authority recently and insisted it was a "progressive gathering" with a "high level of engagement" from the National League to the Premier League.

"It's a job that's actually really important, because if we get it wrong, if the football community fails, the remarkable development accomplished could disappear rapidly," the chairman stated.

"This represents everyone's worst fear in the context of the English game is a major achievement - we need to continue the progress.

"There's an enormous amount of money flowing into the game and has been channeled for the recent generations, because there's no guarantee it will persist in entering the game, which is one of the reasons why I think we have to take a really clear view on challenges and obviously, of the immediate future."

Premier League Concerns

Top flight officials resisted the formation of an authority because of concerns about detrimental effects on the top-flight's competitiveness, but Kogan said: "I completely endorse the achievement and development as an financial organization of the Premier League.

"I of all people understand the concern of undermining the division as a high-quality offering of the nation. But concurrently, if you consult with top flight officials after today's meeting, they would have had a significant degree of comfort -and, indeed, they have been informing us confidentially they have a high level of reassurance."

Political Connections

Kogan is still facing a "full inquiry" by the official appointments authority after he disclosed making donations to the political party in the past.

The official donated money to Culture Secretary the minister's leadership bid, along with that of the now Prime Minister Sir Keir Starmer.

"I have been entirely transparent regarding my past party membership [with Labour], and that party membership ceased the day the select committee approved my appointment," the chairman stated.

"I am no longer involved in any type of partisan engagement."