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Sheffield Wednesday's current difficulties represent a a "major concern" and the independent regulator is aiming to acquire authority to investigate clubs in comparable cases, the recently named head David Kogan has stated.

In a wide-ranging interview, the chairman, who was named to the position this week, voiced concern towards Wednesday's fanbase.

The regulator engaged with four supporter groups connected to the football team recently.

The Championship side have been struggling on and off the field in this season, with the club missing wage payments on five separate occasions, including in the autumn.

"Evidently Wednesday represents a significant problem for EFL and a substantial concern for English football," the regulator explained.

"Wednesday stands as one of the historic institutions for English football and this week we have met Sheffield Wednesday supporters' groups.

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

Economic Challenges and Ownership Situation

Wednesday's embattled owner the Thai businessman stated during the off-season he would be open to selling the club at Hillsborough, but he has failed to complete a sale with potential new owners.

Failure to pay player wages on time in March and May caused limitations by the football authorities in summer, blocking the team from conducting any transfers or loans for the next three transfer windows, although those limitations were removed in late summer.

Official's Viewpoint

Kogan said: "The position was created for the Owls followers, other clubs in similar situations where supporters are loyal to a community organization that has been part of their lives in numerous instances.

"I completely understand the team's plight, as I do for all the clubs that in modern times have encountered failure, or approached financial ruin, for reasons that have nothing to do with the fans themselves."

Questioned about whether the authority might compel an chairman to relinquish a club if they are deemed unsuitable, Kogan said: "Should the inquiry concern 'would we intervene in the final instance?', the response would be once we gather the evidence 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 authority would rather to work with them.

"Our least desirable course of action is begin intervening in an individual club, an specific proprietor, without having the opportunity to collaborate with that owner to try and resolve the problems affecting the organization and the proprietor's dealing with," the regulator explained.

"In actuality, when you examine the past of the sport, over the past few decades there have been some owners, a small minority, but some who have been irresponsible in the way which they've been managing their clubs and ultimately refuse to accept accountability for the coming years."

'Errors may undo substantial development'

Kogan met with representatives from 110 clubs to lay out the remit of the oversight body this week and stated it constituted a "forward-thinking discussion" with a "high level of engagement" from the grassroots to elite level.

"The role holds considerable importance, because if we get it wrong, if the sport makes errors, the significant advances achieved necessary will vanish swiftly," the chairman stated.

"This represents everyone's worst fear in the context of the English game is a major achievement - we need to continue the progress.

"There's an enormous amount of money coming into football and has been invested for the past two decades, because there's no guarantee it will continue to come into football, which is one of the reasons why I think we have to adopt a precise perspective on potential dangers and naturally, of the next two or three years."

Elite Division Worries

Elite division representatives objected to the creation of a regulator because of apprehensions regarding adverse consequences on the Premier League's sporting equality, but the chairman responded: "I fully support the achievement and development as an financial organization of the Premier League.

"As someone who appreciates the worry about compromising the division as a high-quality offering of the nation. But concurrently, if you engage with division representatives after the recent gathering, they would have had a significant degree of comfort -and, in fact, they have been telling us in private they have a high level of reassurance."

Ideological Links

Kogan is still facing a "full inquiry" by the official appointments authority after he disclosed making donations to the political party in the past.

The 68-year-old contributed funds to Culture Secretary the minister's leadership bid, along with that of the government leader.

"I have been entirely transparent regarding my past party membership [with Labour], and that ideological connection terminated the day the official body endorsed my nomination," the chairman stated.

"I am no longer involved in any type of partisan engagement."