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Sheffield Wednesday's current difficulties are seen as a "major concern" and the football regulator is aiming to acquire authority to look into club affairs in similar circumstances, its new chair the regulator has declared.

During an extensive discussion, the chairman, who was appointed on Monday, showed understanding towards the club's followers.

Kogan met with four fan organizations associated with the football team in recent days.

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

"Obviously the club has become a serious issue for football authorities and a major challenge for the sport," Kogan told.

"Sheffield Wednesday is one of the great brands for the English game and recently we have met Sheffield Wednesday supporters' groups.

"We are seeking authority... which will allow us to have Wednesday and comparable cases submitted for our review if they warrant scrutiny and addressed."

Financial Struggles and Leadership Concerns

The team's struggling chairman the Thai businessman indicated in the summer he would be willing to sell up at their home ground, but he has failed to complete a sale with prospective buyers.

Delayed salary payments on time in earlier this year caused limitations by the English Football League (EFL) in June, preventing the club from carrying out any transfers or loans for the next three transfer windows, although that restriction was lifted in late summer.

Regulator's Perspective

Kogan said: "The position was created for the supporters of Wednesday, Bury or any football club where fans are dedicated to a regional establishment that has been part of their lives in numerous instances.

"I fully appreciate Sheffield Wednesday, as I do for all the clubs that in modern times have encountered failure, or nearly ceased operations, for factors unrelated to the supporters."

Questioned about whether the oversight body could require an chairman to relinquish a club if they are considered unfit, Kogan said: "Should the inquiry concern 'would we intervene in the final instance?', the reply is once we collect the information and understand the situation, we will."

But Kogan stressed that forcing owners to sell clubs would be viewed as the ultimate measure and the authority would rather to cooperate with proprietors.

"The last thing what we want to do is begin intervening in an individual club, an particular chairman, 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.

"However, realistically, when you examine the past of football, over the last 20 or 30 years there have been particular chairmen, not many, but some who have been irresponsible in the way which they've been managing their teams and eventually decline to assume obligation for the future."

'Errors may undo substantial development'

Kogan met with representatives from 110 clubs to detail the scope of the oversight body this week and insisted it was a "progressive gathering" with a "substantial involvement" from the grassroots to elite level.

"It's a job that's actually really important, because should mistakes occur, if the world of football gets it wrong, the extraordinary progress that's been made might evaporate rapidly," Kogan said.

"Such an outcome is universally undesirable in the realm of domestic football is a major achievement - we must maintain momentum.

"There's an enormous amount of money entering the sport and has been channeled for the past two decades, because there are no assurances it will persist in entering the game, which is one of the reasons why I think we have to take a really clear view on challenges and obviously, of the immediate future."

Elite Division Worries

Top flight officials resisted the creation of a regulator because of apprehensions regarding adverse consequences on the elite division's competitive balance, but Kogan said: "I completely endorse the success and growth as an economic entity of the Premier League.

"As someone who appreciates the apprehension regarding damaging the division as a high-quality offering of England. But concurrently, if you consult with top flight officials after this week's discussion, they would have had a high level of reassurance -and, in fact, they have been advising us privately they have a significant confidence."

Political Connections

Kogan is still facing a "thorough examination" by the public appointments commissioner after he acknowledged providing funds to the Labour Party in recent years.

The chairman provided financial support for Culture Secretary the minister's leadership bid, along with that of the government leader.

"I have been entirely transparent regarding my previous political affiliation [with Labour], and that political affiliation came to an end the day the parliamentary committee confirmed my selection," the regulator explained.

"I am presently disconnected from any type of partisan engagement."