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Sheffield Wednesday's current difficulties represent a a "serious issue" and the football regulator is seeking powers to look into club affairs in similar circumstances, the newly appointed chairman David Kogan has declared.

In a wide-ranging interview, the regulator, who was appointed on Monday, expressed "sympathy" towards supporters of the Owls.

Kogan met with four supporter groups associated with the Championship side this week.

The Championship side have been facing challenges both on and off the pitch in the current year, with the club failing to pay players on time on multiple instances, including in the autumn.

"Clearly Sheffield Wednesday has been a significant problem for EFL and a major challenge for the sport," the regulator explained.

"Wednesday stands as one of the historic institutions for football in England and recently we have met fan representatives.

"We're now looking to get powers... which will permit us to bring Wednesday and comparable cases referred to us if they warrant scrutiny and addressed."

Monetary Issues and Leadership Concerns

The team's struggling chairman the current owner suggested earlier this year he would be open to selling the club at Hillsborough, but he has been unable to finalize an agreement with prospective buyers.

Failure to pay player wages on time in spring months led to sanctions by the football authorities in summer, blocking the team from conducting any transfers or loans for the following recruitment periods, although that restriction was lifted in August.

Official's Viewpoint

The chairman stated: "Our role exists to serve the supporters of Wednesday, Bury or any football club where supporters are loyal to a local institution that has been part of their lives in numerous instances.

"I completely understand Sheffield Wednesday, as I do for all the clubs that in modern times have encountered failure, or approached financial ruin, for factors unrelated to the followers."

Questioned about whether the regulator could force an proprietor to divest a club if they are deemed unsuitable, the chairman responded: "When asking whether 'would we intervene in the final instance?', the response would be once we collect the information and comprehend the circumstances, we will."

But Kogan stressed that forcing owners to sell clubs would be treated as a "last resort" and the regulator would prefer to work with them.

"The last thing what we want to do is begin intervening in an specific team, an individual owner, without being in a position to cooperate with that chairman to fix the issues that the club's facing and the owner's facing," the regulator explained.

"But the truth is, when you review the record of the game, over the recent generations there have been particular chairmen, few in number, but particular people who have shown negligence in the way which they've been managing their teams and eventually 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 "high level of engagement" from the lower divisions to the top flight.

"This position carries substantial significance, because if errors are made, if the football community fails, the extraordinary progress that's been made could disappear rapidly," the chairman stated.

"Such an outcome is universally undesirable in the realm of domestic football is a huge success story - we need to continue the progress.

"There's an enormous amount of money coming into football and has been channeled for the recent generations, because certainty is lacking it will persist in entering the game, which is among the factors explaining I think we have to maintain a focused outlook on challenges and obviously, of the coming seasons."

Top Flight Apprehensions

Elite division representatives objected to the formation of an authority because of apprehensions regarding adverse consequences on the top-flight's competitiveness, but the regulator stated: "I fully support the prosperity and expansion as an commercial operation of the elite league.

"Being fully aware of the concern of undermining the top flight as an elite competition of England. But simultaneously, if you consult with top flight officials after this week's discussion, they would have had a significant degree of comfort -and, actually, they have been informing us confidentially they have a significant confidence."

Partisan Associations

Kogan is still facing a "comprehensive investigation" by the Commissioner for Public Appointments after he revealed he contributed money to the political party in the past.

The chairman donated money to government minister the politician's campaign, along with that of the current Prime Minister.

"I have been entirely transparent regarding my former ideological connection [with Labour], and that political affiliation came to an end the day the select committee approved my appointment," Kogan said.

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