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Sheffield Wednesday's current difficulties represent a a "serious issue" and the football regulator is looking to gain the ability to examine team situations in such situations, its new chair the regulator has stated.

In a wide-ranging interview, the regulator, who was appointed on Monday, voiced concern towards supporters of the Owls.

Kogan met with four supporters' associations representing the South Yorkshire club in recent days.

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 last month.

"Evidently Wednesday represents a major concern for the league and a significant problem for football," the regulator explained.

"The club represents one of the historic institutions for English football and recently we have met supporters' organizations.

"We're now looking to get powers... which will permit us to bring Sheffield Wednesday - and other clubs brought to our attention if they require examination and addressed."

Economic Challenges and Proprietorship Status

The team's struggling chairman Dejphon Chansiri stated during the off-season he would be willing to sell up at the stadium, but he has not been able to secure a deal with prospective buyers.

Delayed salary payments on time in earlier this year resulted in restrictions being imposed by the football authorities in summer, preventing the club from carrying out any player acquisitions for the next three transfer windows, although the ban was rescinded in August.

Regulator's Perspective

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

"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 reasons that have nothing to do with the supporters."

Inquired if the regulator could force an chairman to relinquish a club if they are considered unfit, the chairman responded: "If your question is 'would we intervene in the final instance?', the response would be once we gather the evidence and understand the situation, we will."

But Kogan stressed that compelling proprietors to divest clubs would be considered the final option and the regulator would prefer to collaborate with owners.

"The final option we would consider is start getting involved with an specific team, an individual owner, without being in a position to cooperate with that chairman to fix the issues that the club's facing and the owner's facing," the regulator explained.

"In actuality, when you review the record of the game, over the past few decades there have been some owners, few in number, but certain individuals who have acted carelessly in the approach they have taken toward their teams and eventually refuse to accept accountability for the coming years."

'Mistakes could erase significant advances'

The chairman convened with representatives from 110 clubs to explain the responsibilities of the authority recently and stated it constituted a "forward-thinking discussion" with a "high level of engagement" from the lower divisions to the top flight.

"This position carries substantial significance, because if errors are made, if the sport makes errors, the significant advances achieved could disappear rapidly," the chairman stated.

"This represents everyone's worst fear in the realm of domestic football is a huge success story - we've got to keep it going.

"Substantial financial resources entering the sport and has been channeled for the past two decades, because there's no guarantee it will keep flowing into the sport, which is one of the reasons why I think we have to adopt a precise perspective on challenges and obviously, of the immediate future."

Top Flight Apprehensions

The Premier League opposed the creation of a regulator because of apprehensions regarding adverse consequences on the Premier League's sporting equality, but the chairman responded: "I'm absolutely committed to the achievement and development as an financial organization of the elite league.

"I of all people understand the apprehension regarding damaging the division as a high-quality offering of the nation. But simultaneously, if you consult with top flight officials after the recent gathering, they would have had a significant degree of comfort -and, actually, they have been telling us in private they have a high level of reassurance."

Political Connections

The regulator remains subject to a "full inquiry" by the public appointments commissioner after he revealed he contributed money to the opposition group in recent years.

The 68-year-old donated money to government minister the politician's campaign, along with that of the government leader.

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

"I am no longer involved in any sort of politics."