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Sheffield Wednesday's ongoing struggles represent a a "significant problem" and the independent regulator is seeking powers to examine team situations in such situations, the newly appointed chairman David Kogan has announced.

In a wide-ranging interview, the chairman, who was recently selected, expressed "sympathy" towards Wednesday's fanbase.

Kogan met with four fan organizations connected to the Championship side in recent days.

The football club have been facing challenges both on and off the pitch in the current year, with the club delaying salary disbursements on several different times, including in September.

"Obviously the club has become a major concern for the league and a substantial concern for English football," the chairman stated.

"The club represents one of the great brands for the English game and in recent days we have met supporters' organizations.

"Our aim is to acquire the ability... which will allow us to have Sheffield Wednesday - and other clubs brought to our attention if they require examination and acted upon."

Monetary Issues and Ownership Situation

The club's controversial proprietor the current owner suggested earlier this year he would be willing to sell up at their home ground, but he has been unable to finalize an agreement with potential new owners.

Missed wage deadlines on time in spring months led to sanctions by the league officials in mid-year, stopping Wednesday from completing any player acquisitions for the subsequent signing windows, although those limitations were removed in late summer.

Official's Viewpoint

The regulator explained: "The position was created for the Owls followers, teams facing challenges where people are committed to a community organization that has represented their community in multiple situations.

"I have absolute sympathy for the team's plight, 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 followers."

Inquired if the oversight body could require an chairman to relinquish a club if they are considered unfit, Kogan said: "When asking whether 'would we intervene in the final instance?', the reply is once we collect the information and comprehend the circumstances, we will."

But the chairman emphasized that forcing owners to sell clubs would be considered the final option and the oversight body would choose to collaborate with owners.

"The final option we would consider is start getting involved with an individual club, an individual owner, without being in a position to cooperate with that proprietor to address the problems affecting the organization and the proprietor's dealing with," the chairman stated.

"In actuality, when you review the record of football, over the past few decades there have been some owners, a small minority, but certain individuals who have acted carelessly in the manner they have operated their teams and eventually decline to assume obligation for the long-term prospects."

'Mistakes could erase significant advances'

Kogan met with officials from numerous teams to explain the responsibilities of the regulator on Wednesday and stated it constituted a "forward-thinking discussion" with a "high level of engagement" from the National League to the Premier League.

"This position carries substantial significance, because if we get it wrong, if the sport makes errors, the extraordinary progress that's been made might evaporate incredibly quickly," the chairman stated.

"This represents everyone's worst fear in the realm of domestic football is a substantial accomplishment - we need to continue the progress.

"Considerable investment flowing into the game and has been invested for the past two decades, because there are no assurances it will keep flowing into the sport, which is part of the rationale behind I think we have to adopt a precise perspective on challenges and obviously, of the immediate future."

Top Flight Apprehensions

Top flight officials resisted the establishment of an oversight body because of apprehensions regarding adverse consequences on the Premier League's sporting equality, but the regulator stated: "I completely endorse the prosperity and expansion as an economic entity of the elite league.

"As someone who appreciates the concern of undermining the top flight as an elite competition of this country. But at the same time, if you talk to the Premier League after this week's discussion, 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."

Political Connections

The regulator remains subject to a "full inquiry" by the public appointments commissioner after he disclosed making donations to the Labour Party 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 current Prime Minister.

"I've been completely open about my past party membership [with Labour], and that party membership ceased the day the official body endorsed my nomination," Kogan said.

"I currently have no participation in any sort of politics."