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The Championship club's persistent issues constitute a "serious issue" and the independent regulator is aiming to acquire authority to examine team situations in similar circumstances, the recently named head the regulator has announced.

In a wide-ranging interview, the regulator, who was named to the position this week, expressed "sympathy" towards Wednesday's fanbase.

The regulator engaged with four supporter groups associated with the football team in recent days.

The Championship side have been experiencing difficulties in multiple areas in the current year, with the club delaying salary disbursements on multiple instances, including in last month.

"Evidently Wednesday represents a serious issue for football authorities and a significant problem for football," Kogan told.

"Sheffield Wednesday is one of the iconic names for the English game and this week we have met supporters' organizations.

"We're now looking to get powers... which will enable us to take the club and similar situations submitted for our review if they require examination and addressed."

Financial Struggles and Ownership Situation

The club's controversial proprietor the Thai businessman stated during the off-season he would be prepared to relinquish control at the stadium, but he has not been able to secure a deal with interested parties.

Failure to pay player wages on time in March and May led to sanctions by the English Football League (EFL) in June, blocking the team from conducting any recruitment activities for the following recruitment periods, although that restriction was lifted in August.

Authority's Position

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

"I completely understand the club's situation, as I do for every team that in modern times have encountered failure, or been close to going to the wall, for reasons that have nothing to do with the fans themselves."

Questioned about whether the oversight body could require an chairman to relinquish a club if they are deemed unsuitable, Kogan said: "If your question is 'would we intervene in the final instance?', the response would be once we assemble the facts and understand the situation, we will."

But the regulator clarified that forcing owners to sell clubs would be considered the final option and the oversight body would choose to collaborate with owners.

"The last thing what we want to do is begin intervening in an specific team, an individual owner, 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 review the record of football, over the past few decades there have been certain proprietors, a small minority, but particular people who have shown negligence in the manner they have operated their clubs and ultimately refuse to accept accountability for the coming years."

'Mistakes could erase significant advances'

The regulator engaged delegates from multiple organizations to lay out the remit of the authority recently and insisted it was a "forward-thinking discussion" 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 world of football gets it wrong, the extraordinary progress that's been made necessary will vanish swiftly," the regulator warned.

"This represents everyone's worst fear in the context of the English game is a major achievement - we've got to keep it going.

"Considerable investment coming into football and has been invested for the last 20 or 25 years, because there's no guarantee it will persist in entering the game, which is part of the rationale behind I think we have to take a really clear view on challenges and obviously, of the coming seasons."

Top Flight Apprehensions

Top flight officials resisted the creation of a regulator because of fears of a negative impact on the top-flight's competitiveness, but the chairman responded: "I completely endorse the achievement and development as an commercial operation of the top division.

"Being fully aware of the concern of undermining the Premier League as a premium product of this country. But simultaneously, if you engage with division representatives after today's meeting, they would have had a substantial amount of confidence -and, actually, they have been informing us confidentially they have a high level of reassurance."

Political Connections

The regulator remains subject to a "full inquiry" by the public appointments commissioner after he disclosed making donations to the Labour Party in recent years.

The 68-year-old donated money to Secretary of State for Culture, Media and Sport the minister's leadership bid, along with that of the now Prime Minister Sir Keir Starmer.

"I have fully disclosed my previous political affiliation [with Labour], and that political affiliation came to an end the day the parliamentary committee confirmed my selection," the chairman stated.

"I currently have no participation in any type of partisan engagement."