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The Championship club's ongoing struggles represent a a "major concern" and the new football authority is aiming to acquire authority to examine team situations in comparable cases, the recently named head the regulator has announced.

In a wide-ranging interview, the regulator, who was recently selected, showed understanding towards supporters of the Owls.

The chairman convened with four fan organizations connected to the Championship side recently.

The Championship side have been experiencing difficulties in multiple areas in this season, with the club delaying salary disbursements on five separate occasions, including in last month.

"Obviously the club has become a significant problem for EFL and a significant problem for football," Kogan told.

"The club represents one of the great brands for the English game and this week we have met fan representatives.

"We are seeking authority... which will permit us to bring Wednesday and comparable cases brought to our attention if they warrant scrutiny and acted upon."

Financial Struggles and Proprietorship Status

Wednesday's embattled owner Dejphon Chansiri stated during the off-season he would be prepared to relinquish control at their home ground, but he has failed to complete a sale with prospective buyers.

Missed wage deadlines on time in spring months led to sanctions by the football authorities in June, stopping Wednesday from completing any player acquisitions for the next three transfer windows, although those limitations were removed in late summer.

Authority's Position

The regulator explained: "The position was created for the fans of Sheffield Wednesday, other clubs in similar situations where fans are dedicated to a community organization that has been part of their lives in numerous instances.

"I have absolute sympathy for Sheffield Wednesday, as I do for each organization that over recent decades have faced collapse, or approached financial ruin, for reasons that have nothing to do with the supporters."

When asked if the authority might compel an owner to sell a club if they are considered unfit, the regulator answered: "If your question is 'would we intervene in the final instance?', the answer is once we gather the evidence and understand the situation, we will."

But the regulator clarified that compelling proprietors to divest clubs would be treated as a "last resort" and the regulator would prefer to collaborate with owners.

"The last thing what we want to do is start getting involved with an individual club, an individual owner, without being in a position to cooperate with that chairman to fix the issues that the club's facing and the proprietor's dealing with," the chairman stated.

"However, realistically, when you review the record of the game, over the recent generations there have been certain proprietors, a small minority, but certain individuals who have acted carelessly in the approach they have taken toward their teams and eventually decline to assume obligation for the future."

'If we get it wrong, extraordinary progress vanishes'

Kogan met with representatives from 110 clubs to explain the responsibilities of the oversight body this week and stated it constituted a "forward-thinking discussion" with a "substantial involvement" from the grassroots to elite level.

"This position carries substantial significance, because should mistakes occur, if the world of football gets it wrong, the remarkable development accomplished necessary will vanish swiftly," the chairman stated.

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

"Substantial financial resources flowing into the game and has come into football for the last 20 or 25 years, because certainty is lacking it will keep flowing into the sport, which is among the factors explaining I think we have to maintain a focused outlook on challenges and obviously, of the immediate future."

Top Flight Apprehensions

The Premier League opposed the formation of an authority because of concerns about detrimental effects on the elite division's competitive balance, but the regulator stated: "I completely endorse the prosperity and expansion as an economic entity of the top division.

"I of all people understand the worry about compromising the Premier League as a premium product of this country. But simultaneously, if you consult with top flight officials after this week's discussion, they would have had a high level of reassurance -and, indeed, they have been telling us in private they have a considerable comfort."

Political Connections

The chairman continues to confront a "comprehensive investigation" by the Commissioner for Public Appointments after he revealed he contributed money to the Labour Party in recent years.

The 68-year-old contributed funds 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 former ideological connection [with Labour], and that ideological connection terminated the day the official body endorsed my nomination," the chairman stated.

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