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Sheffield Wednesday's ongoing struggles constitute a "serious issue" and the new football authority is seeking powers to investigate clubs in comparable cases, the newly appointed chairman the official has announced.

In a wide-ranging interview, the regulator, who was appointed on Monday, showed understanding towards supporters of the Owls.

The chairman convened with four supporter groups representing the football team in recent days.

The team have been experiencing difficulties in multiple areas in the current year, with the club failing to pay players on time on several different times, including in last month.

"Evidently Wednesday represents a major concern for the league and a significant problem for football," Kogan told.

"Wednesday stands as one of the historic institutions for English football and recently we have met supporters' organizations.

"Our aim is to acquire the ability... which will allow us to have the club and similar situations brought to our attention if they warrant scrutiny and acted upon."

Financial Struggles and Leadership Concerns

Wednesday's embattled owner Dejphon Chansiri suggested earlier this year he would be open to selling the club at the stadium, but he has been unable to finalize an agreement with prospective buyers.

Missed wage deadlines on time in spring months caused limitations by the league officials in mid-year, blocking the team from conducting any recruitment activities for the subsequent signing windows, although those limitations were removed in the end of the transfer window.

Authority's Position

The chairman stated: "The position was created for the Owls followers, Bury or any football club where people are committed to a local institution that has been part of their lives in many cases.

"I completely understand the team's plight, as I do for each organization that since 1992 have gone to the wall, or nearly ceased operations, for factors unrelated to the supporters."

When asked if the regulator could force an owner to sell a club if they are judged inappropriate, Kogan said: "If your question is 'would we intervene in the final instance?', the reply is once we assemble the facts and know what's going on, we will."

But the chairman emphasized that forcing owners to sell clubs would be viewed as the ultimate measure and the regulator would prefer to collaborate with owners.

"Our least desirable course of action is start getting involved with an particular organization, an specific proprietor, without being able to work with that owner to try and resolve the issues that the club's facing and the owner's facing," the regulator explained.

"But the truth is, when you examine the past of football, over the recent generations there have been some owners, a small minority, but particular people who have shown negligence in the manner they have operated their organizations and finally decline to assume obligation for the future."

'Errors may undo substantial development'

Kogan met with delegates from multiple organizations to lay out the remit of the oversight body this week and insisted it was a "proactive meeting" with a "high level of engagement" from the grassroots to elite level.

"It's a job that's actually really important, because should mistakes occur, if the football community fails, the remarkable development accomplished necessary will vanish swiftly," the regulator warned.

"And that's what nobody wants in the realm of domestic football is a substantial accomplishment - we've got to keep it going.

"Considerable investment coming into football and has come into football for the last 20 or 25 years, because there are no assurances it will persist in entering the game, which is one of the reasons why I think we have to maintain a focused outlook on potential dangers and naturally, of the immediate future."

Top Flight Apprehensions

Top flight officials resisted the establishment of an oversight body because of concerns about detrimental effects on the top-flight's competitiveness, but the regulator stated: "I completely endorse the success and growth as an economic entity of the elite league.

"I of all people understand the apprehension regarding damaging the Premier League as a premium product of this country. But at the same time, if you engage with division representatives after today's meeting, they would have had a substantial amount of confidence -and, actually, they have been advising us privately they have a high level of reassurance."

Ideological Links

The chairman continues to confront a "full inquiry" by the official appointments authority after he acknowledged providing funds to the political party in the past.

The 68-year-old contributed funds to Culture Secretary the politician's campaign, along with that of the current Prime Minister.

"I've been completely open about my former ideological connection [with Labour], and that political affiliation came to an end the day the select committee approved my appointment," the regulator explained.

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