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Sheffield Wednesday's current difficulties are seen as a "major concern" and the new football authority is seeking powers to look into club affairs in similar circumstances, the newly appointed chairman the regulator has stated.

During an extensive discussion, the chairman, who was appointed on Monday, expressed "sympathy" towards Wednesday's fanbase.

Kogan met with four supporters' associations associated with the Championship side in recent days.

The football club have been facing challenges both on and off the pitch in this season, with the club missing wage payments on several different times, including in September.

"Obviously the club has become a major concern for the league and a significant problem for football," Kogan told.

"Wednesday stands as one of the iconic names for English football and in recent days we have met fan representatives.

"We're now looking to get powers... which will enable us to take Sheffield Wednesday - and other clubs referred to us if they need to be investigated and addressed."

Financial Struggles and Ownership Situation

The club's controversial proprietor 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 prospective buyers.

Delayed salary payments on time in earlier this year caused limitations by the league officials in mid-year, blocking the team from conducting any transfers or loans for the next three transfer windows, although the ban was rescinded in August.

Regulator's Perspective

Kogan said: "The job [of the regulator] is there for the fans of Sheffield Wednesday, Bury or any football club where supporters are loyal to a local institution that has been part of their lives in multiple situations.

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

When asked if the oversight body could require an chairman to relinquish a club if they are judged inappropriate, the chairman responded: "If your question is 'would we intervene in the final instance?', the reply is once we assemble the facts and comprehend the circumstances, we will."

But the regulator clarified that compelling proprietors to divest clubs would be treated as a "last resort" and the authority would rather to collaborate with owners.

"The last thing what we want to do is commence engagement with an particular organization, an particular chairman, without being in a position to cooperate with that chairman to fix the challenges confronting the team and the chairman's encountering," Kogan said.

"However, realistically, when you examine the past of the game, over the recent generations there have been particular chairmen, a small minority, but certain individuals who have acted carelessly in the approach they have taken toward their teams and eventually don't wish to take responsibility for the coming years."

'If we get it wrong, extraordinary progress vanishes'

The chairman convened with representatives from 110 clubs to lay out the remit of the authority recently and maintained it represented a "progressive gathering" with a "substantial involvement" from the National League to the Premier League.

"This position carries substantial significance, because if we get it wrong, if the football community fails, the significant advances achieved might evaporate rapidly," the chairman stated.

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

"Considerable investment flowing into the game and has been invested for the past two decades, because certainty is lacking it will keep flowing into the sport, which is part of the rationale behind I think we have to adopt a precise perspective on risk and of course, of the next two or three years."

Elite Division Worries

The Premier League opposed the establishment of an oversight body because of fears of a negative impact on the top-flight's competitiveness, but the regulator stated: "I fully support the achievement and development as an commercial operation of the elite league.

"Being fully aware of the concern of undermining the top flight as an elite competition of the nation. But simultaneously, if you consult with top flight officials after the recent gathering, they would have had a significant degree of comfort -and, in fact, they have been advising us privately they have a significant confidence."

Partisan Associations

Kogan is still facing a "full inquiry" by the public appointments commissioner after he disclosed making donations to the Labour Party in 2020.

The official donated money to Culture Secretary the politician's campaign, along with that of the government leader.

"I have fully disclosed my past party membership [with Labour], and that ideological connection terminated the day the official body endorsed my nomination," the chairman stated.

"I am no longer involved in any form of political activity."