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Sheffield Wednesday's ongoing struggles are seen as a "major concern" and the independent regulator is seeking powers to investigate clubs in such situations, its new chair the regulator has stated.

In a wide-ranging interview, the chairman, who was appointed on Monday, showed understanding towards Wednesday's fanbase.

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

The team have been struggling on and off the field in this season, with the club failing to pay players on time on several different times, including in September.

"Clearly Sheffield Wednesday has been a serious issue for football authorities and a substantial concern for English football," the regulator explained.

"The club represents one of the historic institutions for English football and in recent days we have met Sheffield Wednesday supporters' groups.

"Our aim is to acquire the ability... which will permit us to bring Wednesday and comparable cases referred to us if they require examination and dealt with."

Economic Challenges and Proprietorship Status

Wednesday's embattled owner Dejphon Chansiri suggested earlier this year he would be prepared to relinquish control at the stadium, but he has failed to complete a sale with interested parties.

Failure to pay player wages on time in spring months resulted in restrictions being imposed by the English Football League (EFL) in mid-year, preventing the club from carrying out any transfers or loans for the following recruitment periods, although the ban was rescinded in late summer.

Authority's Position

The regulator explained: "The position was created for the Owls followers, Bury or any football club where supporters are loyal 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 in modern times have encountered failure, or been close to going to the wall, for factors unrelated to the fans themselves."

Questioned about whether the authority might compel an owner to sell a club if they are deemed unsuitable, the regulator answered: "When asking whether 'would we intervene in the final instance?', the reply is once we gather the evidence and understand the situation, we will."

But Kogan stressed that requiring chairmen to relinquish clubs would be treated as a "last resort" and the authority would rather to work with them.

"The final option we would consider is start getting involved with an particular organization, an individual owner, without being in a position to cooperate with that owner to try and resolve the challenges confronting the team and the chairman's encountering," the regulator explained.

"But the truth is, when you review the record of the sport, over the past few decades there have been some owners, not many, but certain individuals who have acted carelessly in the approach they have taken toward their teams and eventually don't wish to take responsibility for the coming years."

'If we get it wrong, extraordinary progress vanishes'

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.

"The role holds considerable importance, because should mistakes occur, if the world of football gets it wrong, the remarkable development accomplished could disappear rapidly," the regulator warned.

"And that's what nobody wants in the context of the English game is a major achievement - we must maintain momentum.

"Considerable investment flowing into the game and has come into football for the last 20 or 25 years, because there's no guarantee 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."

Premier League Concerns

Elite division representatives objected to the establishment of an oversight body because of concerns about detrimental effects on the Premier League's sporting equality, but the regulator stated: "I fully support the achievement and development as an commercial operation of the elite league.

"Being fully aware of the worry about compromising the division as a high-quality offering of England. But concurrently, if you talk to the Premier League after this week's discussion, they would have had a high level of reassurance -and, in fact, they have been informing us confidentially they have a significant confidence."

Ideological Links

The chairman continues to confront a "full inquiry" by the public appointments commissioner after he disclosed making donations to the opposition group in the past.

The chairman provided financial support for Secretary of State for Culture, Media and Sport Lisa Nandy's leadership campaign, along with that of the government leader.

"I have fully disclosed my previous political affiliation [with Labour], and that political affiliation came to an end the day the official body endorsed my nomination," the regulator explained.

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