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Sheffield Wednesday's current difficulties are seen as a "serious issue" and the football regulator is looking to gain the ability to examine team situations in comparable cases, the recently named head the regulator has stated.

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

The chairman convened with four supporter groups representing the Championship side 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 several different times, including in last month.

"Evidently Wednesday represents a significant problem for EFL and a major challenge for the sport," the regulator explained.

"Sheffield Wednesday is one of the iconic names for English football and recently we have met fan representatives.

"We are seeking authority... which will enable us to take Wednesday and comparable cases brought to our attention if they require examination and addressed."

Monetary Issues and Leadership Concerns

Wednesday's embattled owner the Thai businessman stated during the off-season he would be willing to sell up at their home ground, 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 football authorities in summer, preventing the club from carrying out any recruitment activities for the next three transfer windows, although that restriction was lifted in the end of the transfer window.

Authority's Position

The regulator explained: "Our role exists to serve the fans of Sheffield Wednesday, other clubs in similar situations where people are committed to a regional establishment that has been part of their lives in numerous instances.

"I fully appreciate the team's plight, as I do for every team that since 1992 have gone to the wall, or approached financial ruin, for reasons that have nothing to do with the supporters."

Inquired if the authority might compel an proprietor to divest a club if they are judged inappropriate, the regulator answered: "If your question is 'would we intervene in the final instance?', the response would be once we assemble the facts and know what's going on, we will."

But Kogan stressed that compelling proprietors to divest clubs would be considered the final option and the authority would rather to work with them.

"Our least desirable course of action is begin intervening in an individual club, an individual owner, without having the opportunity to collaborate with that proprietor to address the problems affecting the organization and the owner's facing," the regulator explained.

"In actuality, when you look back over the history of football, over the last 20 or 30 years there have been certain proprietors, few in number, but some who have been irresponsible in the manner they have operated their organizations and finally don't wish to take responsibility for the coming years."

'Errors may undo substantial development'

The regulator engaged delegates from multiple organizations to detail the scope of the authority recently and maintained it represented a "proactive meeting" with a "substantial involvement" from the grassroots to elite level.

"This position carries substantial significance, because if errors are made, if the world of football gets it wrong, the significant advances achieved could disappear incredibly quickly," the regulator warned.

"And that's what nobody wants in the terms of English football is a huge success story - we need to continue the progress.

"There's an enormous amount of money entering the sport and has been invested for the last 20 or 25 years, 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."

Top Flight Apprehensions

The Premier League opposed the formation of an authority because of apprehensions regarding adverse consequences on the elite division's competitive balance, but the chairman responded: "I completely endorse the achievement and development as an financial organization of the elite league.

"I of all people understand the concern of undermining the Premier League as a premium product of the nation. But concurrently, if you consult with top flight officials after the recent gathering, they would have had a high level of reassurance -and, indeed, they have been advising us privately they have a high level of reassurance."

Political Connections

The chairman continues to confront a "comprehensive investigation" by the Commissioner for Public Appointments after he disclosed making donations to the Labour Party in recent years.

The official contributed funds to Secretary of State for Culture, Media and Sport Lisa Nandy's leadership campaign, along with that of the government leader.

"I've been completely open about my former ideological connection [with Labour], and that party membership ceased the day the official body endorsed my nomination," Kogan said.

"I am presently disconnected from any sort of politics."