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Sheffield Wednesday's persistent issues are seen as a "significant problem" and the football regulator is seeking powers to investigate clubs in comparable cases, the recently named head the regulator has stated.

During an extensive discussion, the regulator, who was named to the position this week, showed understanding towards Wednesday's fanbase.

The regulator engaged with four fan organizations representing the Championship side in recent days.

The Championship side have been struggling on and off the field in the current year, with the club delaying salary disbursements on multiple instances, including in September.

"Evidently Wednesday represents a significant problem for EFL and a substantial concern for English football," the regulator explained.

"Sheffield Wednesday is one of the iconic names for English football and in recent days we have met Sheffield Wednesday supporters' groups.

"Our aim is to acquire the ability... which will enable us to take Sheffield Wednesday - and other clubs submitted for our review if they require examination and addressed."

Monetary Issues and Ownership Situation

The team's struggling chairman Dejphon Chansiri suggested earlier this year he would be prepared to relinquish control at Hillsborough, but he has not been able to secure a deal with prospective buyers.

Missed wage deadlines on time in March and May caused limitations by the English Football League (EFL) in mid-year, preventing the club from carrying out any transfers or loans for the following recruitment periods, although those limitations were removed in the end of the transfer window.

Official's Viewpoint

The regulator explained: "The position was created for the Owls followers, teams facing challenges where supporters are loyal to a local institution that has existed throughout their lifetimes in multiple situations.

"I fully appreciate the club's situation, as I do for every team that since 1992 have gone to the wall, or been close to going to the wall, for causes separate from the fans themselves."

When asked if the oversight body could require an chairman to relinquish a club if they are considered unfit, Kogan said: "When asking whether 'would we intervene in the final instance?', the response would be once we assemble the facts and comprehend the circumstances, we will."

But the chairman emphasized that requiring chairmen to relinquish clubs would be viewed as the ultimate measure and the authority would rather to collaborate with owners.

"The final option we would consider is start getting involved with an specific team, an specific proprietor, without being in a position to cooperate with that proprietor to address the challenges confronting the team and the chairman's encountering," Kogan said.

"But the truth is, when you examine the past of football, over the last 20 or 30 years there have been some owners, few in number, but particular people who have shown negligence in the approach they have taken toward their teams and eventually refuse to accept accountability for the coming years."

'Errors may undo substantial development'

The chairman convened with officials from numerous teams to lay out the remit of the authority recently and insisted it was a "proactive meeting" with a "significant participation" from the lower divisions to the top flight.

"This position carries substantial significance, because if errors are made, if the football community fails, the remarkable development accomplished might evaporate rapidly," the regulator warned.

"And that's what nobody wants in the realm of domestic football is a substantial accomplishment - we must maintain momentum.

"Substantial financial resources coming into football and has been invested 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 adopt a precise perspective on risk and of course, of the immediate future."

Premier League Concerns

The Premier League opposed the formation of an authority because of fears of a negative impact on the top-flight's competitiveness, but Kogan said: "I fully support the prosperity and expansion as an economic entity of the top division.

"As someone who appreciates the worry about compromising the division as a high-quality offering of England. But simultaneously, if you consult with top flight officials after the recent gathering, they would have had a substantial amount of confidence -and, indeed, they have been advising us privately they have a high level of reassurance."

Ideological Links

Kogan is still facing a "full inquiry" by the Commissioner for Public Appointments after he disclosed making donations to the Labour Party in recent years.

The 68-year-old contributed funds to Culture Secretary Lisa Nandy's leadership campaign, along with that of the government leader.

"I have fully disclosed my past party membership [with Labour], and that political affiliation came to an end the day the parliamentary committee confirmed my selection," the chairman stated.

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