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Sheffield Wednesday's ongoing struggles are seen as a "major concern" and the independent regulator is seeking powers to examine team situations in similar circumstances, its new chair the official has announced.

In a wide-ranging interview, the regulator, who was appointed on Monday, voiced concern towards the club's followers.

Kogan met with four supporter groups representing 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 delaying salary disbursements on five separate occasions, including in September.

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

"Wednesday stands as one of the great brands for the English game and this week we have met Sheffield Wednesday supporters' groups.

"Our aim is to acquire the ability... which will enable us to take Wednesday and comparable cases submitted for our review if they warrant scrutiny and acted upon."

Economic Challenges and Ownership Situation

The club's controversial proprietor the Thai businessman 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 earlier this year resulted in restrictions being imposed by the English Football League (EFL) in summer, preventing the club from carrying out any recruitment activities for the following recruitment periods, although that restriction was lifted in the end of the transfer window.

Regulator's Perspective

The regulator explained: "The job [of the regulator] is there for the Owls followers, Bury or any football club where supporters are loyal to a local institution that has represented their community in multiple situations.

"I completely understand the team's plight, as I do for all the clubs that in modern times have encountered failure, or approached financial ruin, for factors unrelated to the fans themselves."

When asked if the authority might compel an proprietor to divest a club if they are considered unfit, the chairman responded: "When asking whether 'would we intervene in the final instance?', the answer is once we collect the information and understand the situation, we will."

But Kogan stressed that requiring chairmen to relinquish clubs would be considered the final option and the authority would rather to work with them.

"The last thing what we want to do is commence engagement with an individual club, an particular chairman, without having the opportunity to collaborate with that chairman to fix the problems affecting the organization and the chairman's encountering," the chairman stated.

"But the truth is, when you review the record of the sport, over the last 20 or 30 years there have been particular chairmen, not many, but some who have been irresponsible in the manner they have operated their organizations and finally decline to assume obligation for the long-term prospects."

'If we get it wrong, extraordinary progress vanishes'

Kogan met with representatives from 110 clubs to lay out the remit of the regulator on Wednesday and insisted it was a "proactive meeting" with a "significant participation" from the National League to the Premier League.

"This position carries substantial significance, because if we get it wrong, if the sport makes errors, the remarkable development accomplished could disappear rapidly," Kogan said.

"Such an outcome is universally undesirable in the context of the English game is a huge success story - we've got to keep it going.

"Substantial financial resources flowing into the game and has come into football 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 maintain a focused outlook on challenges and obviously, of the immediate future."

Premier League Concerns

The Premier League opposed the creation of a regulator because of apprehensions regarding adverse consequences on the Premier League's sporting equality, but the regulator stated: "I completely endorse the achievement and development as an economic entity of the elite league.

"As someone who appreciates the worry about compromising the top flight as an elite competition of England. But simultaneously, if you engage with division representatives after today's meeting, they would have had a substantial amount of confidence -and, in fact, 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 public appointments commissioner after he acknowledged providing funds to the opposition group in recent years.

The official provided financial support for government minister the politician's campaign, along with that of the now Prime Minister Sir Keir Starmer.

"I've been completely open about my previous political affiliation [with Labour], and that political affiliation came to an end the day the official body endorsed my nomination," the regulator explained.

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