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Sheffield Wednesday's ongoing struggles constitute a "major concern" and the independent regulator is aiming to acquire authority to examine team situations in comparable cases, the recently named head David Kogan has declared.

In a wide-ranging interview, Kogan, who was recently selected, voiced concern towards supporters of the Owls.

The chairman convened with four fan organizations associated with the football team this week.

The Championship side have been struggling on and off the field in the current year, with the club delaying salary disbursements on multiple instances, including in last month.

"Obviously the club has become a significant problem for EFL and a significant problem for football," the regulator explained.

"Sheffield Wednesday is one of the iconic names for football in England and this week we have met Sheffield Wednesday supporters' groups.

"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."

Economic Challenges and Ownership Situation

The club's controversial proprietor the Thai businessman suggested earlier this year he would be prepared to relinquish control at Hillsborough, but he has been unable to finalize an agreement with potential new owners.

Failure to pay player wages on time in earlier this year led to sanctions by the English Football League (EFL) in June, stopping Wednesday from completing any transfers or loans for the next three transfer windows, although the ban was rescinded in August.

Official's Viewpoint

The regulator explained: "The position was created for the fans of Sheffield Wednesday, other clubs in similar situations where fans are dedicated to a local institution that has existed throughout their lifetimes in multiple situations.

"I completely understand Sheffield Wednesday, as I do for all the clubs that since 1992 have gone to the wall, or been close to going to the wall, for causes separate from the fans themselves."

Inquired if the oversight body could require an owner to sell a club if they are considered unfit, the chairman responded: "Should the inquiry concern 'would we intervene in the final instance?', the reply is once we collect the information and comprehend the circumstances, we will."

But the regulator clarified that forcing owners to sell clubs would be considered the final option and the regulator would prefer to work with them.

"The last thing what we want to do is commence engagement with an individual club, an individual owner, without having the opportunity to collaborate with that proprietor to address the problems affecting the organization and the owner's facing," the chairman stated.

"But the truth is, when you review the record of the sport, over the last 20 or 30 years there have been some owners, few in number, but certain individuals who have acted carelessly in the approach they have taken toward their organizations and finally refuse to accept accountability for the future."

'If we get it wrong, extraordinary progress vanishes'

The chairman convened with delegates from multiple organizations to explain the responsibilities of the regulator on Wednesday and maintained it represented a "forward-thinking discussion" with a "substantial involvement" from the grassroots to elite level.

"It's a job that's actually really important, because if we get it wrong, if the world of football gets it wrong, the significant advances achieved might evaporate incredibly quickly," the chairman stated.

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

"There's an enormous amount of money flowing into the game and has been channeled for the last 20 or 25 years, because certainty is lacking it will persist in entering the game, which is among the factors explaining I think we have to adopt a precise perspective on potential dangers and naturally, of the next two or three years."

Premier League Concerns

Elite division representatives objected to the formation of an authority because of apprehensions regarding adverse consequences on the top-flight's competitiveness, but the regulator stated: "I completely endorse the achievement and development as an commercial operation of the elite league.

"I of all people understand the concern of undermining the Premier League as a premium product 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, in fact, they have been informing us confidentially they have a high level of reassurance."

Political Connections

The regulator remains subject to a "thorough examination" by the official appointments authority after he acknowledged providing funds to the opposition group in 2020.

The official donated money to government minister the minister's leadership bid, along with that of the government leader.

"I've been completely open about my past party membership [with Labour], and that party membership ceased the day the parliamentary committee confirmed my selection," the chairman stated.

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