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Sheffield Wednesday's ongoing struggles represent a a "major concern" and the independent regulator is seeking powers to investigate clubs in similar circumstances, the newly appointed chairman the official has stated.

In a wide-ranging interview, the chairman, who was recently selected, voiced concern towards Wednesday's fanbase.

Kogan met with four supporters' associations representing the South Yorkshire club in recent days.

The football club have been experiencing difficulties in multiple areas in this season, with the club failing to pay players on time on multiple instances, including in last month.

"Evidently Wednesday represents a serious issue for football authorities and a substantial concern for English football," the regulator explained.

"The club represents one of the iconic names for English football and recently we have met Sheffield Wednesday supporters' groups.

"We're now looking to get powers... which will allow us to have the club and similar situations brought to our attention if they require examination and acted upon."

Economic Challenges and Ownership Situation

The team's struggling chairman the current owner indicated in the summer he would be prepared to relinquish control at their home ground, but he has failed to complete a sale with interested parties.

Missed wage deadlines on time in March and May led to sanctions by the league officials in mid-year, stopping Wednesday from completing any recruitment activities for the next three transfer windows, although those limitations were removed in late summer.

Authority's Position

The regulator explained: "The position was created for the Owls followers, teams facing challenges where supporters are loyal to a regional establishment that has been part of their lives in numerous instances.

"I have absolute sympathy for the club's situation, as I do for each organization that since 1992 have gone to the wall, or approached financial ruin, for causes separate from the followers."

Inquired if the authority might compel an chairman to relinquish a club if they are deemed unsuitable, the regulator answered: "If your question is 'would we intervene in the final instance?', the reply is once we assemble the facts and understand the situation, we will."

But Kogan stressed that forcing owners to sell clubs would be considered the final option and the authority would rather to cooperate with proprietors.

"Our least desirable course of action is begin intervening in an individual club, an particular chairman, without having the opportunity to collaborate with that owner to try and resolve the challenges confronting the team and the chairman's encountering," the regulator explained.

"In actuality, when you review the record of football, over the recent generations there have been certain proprietors, few in number, but particular people who have shown negligence in the manner they have operated their organizations and finally decline to assume obligation for the future."

'If we get it wrong, extraordinary progress vanishes'

Kogan met with delegates from multiple organizations to lay out the remit of the oversight body this week and stated it constituted a "progressive gathering" with a "significant participation" from the grassroots to elite level.

"The role holds considerable importance, because should mistakes occur, if the world of football gets it wrong, the extraordinary progress that's been made could disappear swiftly," the regulator warned.

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

"There's an enormous amount of money flowing into the game and has been channeled for the past two decades, because there's no guarantee it will continue to come into football, which is among the factors explaining I think we have to adopt a precise perspective on potential dangers and naturally, of the immediate future."

Premier League Concerns

Top flight officials resisted the creation of a regulator because of fears of a negative impact on the elite division's competitive balance, but Kogan said: "I'm absolutely committed to the achievement and development as an commercial operation of the elite league.

"Being fully aware of the concern of undermining the Premier League as a premium product of this country. 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 advising us privately they have a high level of reassurance."

Political Connections

The chairman continues to confront a "full inquiry" by the public appointments commissioner after he revealed he contributed money to the opposition group in 2020.

The 68-year-old contributed funds to Secretary of State for Culture, Media and Sport the minister's leadership bid, along with that of the current Prime Minister.

"I have been entirely transparent regarding my past party membership [with Labour], and that party membership ceased the day the official body endorsed my nomination," the chairman stated.

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