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Sheffield Wednesday's persistent issues are seen as a "serious issue" and the football regulator is seeking powers to examine team situations in similar circumstances, the newly appointed chairman David Kogan has stated.

Through a comprehensive talk, the chairman, who was appointed on Monday, showed understanding towards supporters of the Owls.

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

The team have been struggling on and off the field in the current year, with the club failing to pay players on time on multiple instances, including in September.

"Obviously the club has become a major concern for the league and a major challenge for the sport," Kogan told.

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

"We are seeking authority... which will allow us to have the club and similar situations submitted for our review if they warrant scrutiny and dealt with."

Financial Struggles and Leadership Concerns

The team's struggling chairman the Thai businessman stated during the off-season he would be open to selling the club at Hillsborough, but he has been unable to finalize an agreement with interested parties.

Failure to pay player wages on time in March and May caused limitations by the football authorities in June, stopping Wednesday from completing any player acquisitions for the subsequent signing windows, although that restriction was lifted in late summer.

Regulator's Perspective

The chairman stated: "The position was created for the fans of Sheffield Wednesday, teams facing challenges where people are committed to a community organization that has been part of their lives in numerous instances.

"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 nearly ceased operations, for factors unrelated to the fans themselves."

When asked if the regulator could force an proprietor to divest a club if they are considered unfit, the regulator answered: "When asking whether 'would we intervene in the final instance?', the response would be once we assemble the facts and comprehend the circumstances, 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 work with them.

"The final option we would consider is begin intervening in an particular organization, 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.

"But the truth is, when you examine the past of the game, over the past few decades there have been some owners, not many, but certain individuals who have acted carelessly in the manner they have operated their clubs and ultimately don't wish to take responsibility for the coming years."

'If we get it wrong, extraordinary progress vanishes'

The chairman convened with officials from numerous teams to detail the scope of the oversight body this week and insisted it was a "forward-thinking discussion" with a "significant participation" from the lower divisions to the top flight.

"It's a job that's actually really important, because should mistakes occur, if the world of football gets it wrong, the significant advances achieved necessary will vanish swiftly," the regulator warned.

"This represents everyone's worst fear in the context of the English game is a substantial accomplishment - we must maintain momentum.

"Considerable investment entering the sport and has come into football for the past two decades, because there's no guarantee it will keep flowing into the sport, which is one of the reasons why I think we have to adopt a precise perspective on challenges and obviously, of the next two or three years."

Premier League Concerns

Top flight officials resisted the formation of an authority because of concerns about detrimental effects on the top-flight's competitiveness, but the chairman responded: "I'm absolutely committed to the achievement and development as an commercial operation of the Premier League.

"I of all people understand the worry about compromising the division as a high-quality offering of England. But at the same time, if you engage with division representatives after the recent gathering, they would have had a substantial amount of confidence -and, indeed, they have been telling us in private they have a significant confidence."

Partisan Associations

Kogan is still facing a "comprehensive investigation" by the Commissioner for Public Appointments after he disclosed making donations to the political party in the past.

The official provided financial support for Culture Secretary Lisa Nandy's leadership campaign, along with that of the now Prime Minister Sir Keir Starmer.

"I have been entirely transparent regarding my former ideological connection [with Labour], and that ideological connection terminated the day the parliamentary committee confirmed my selection," the regulator explained.

"I currently have no participation in any form of political activity."