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Sheffield Wednesday's persistent issues constitute a "serious issue" and the independent regulator is aiming to acquire authority to investigate clubs in such situations, the newly appointed chairman the regulator has announced.

In a wide-ranging interview, Kogan, who was appointed on Monday, expressed "sympathy" towards supporters of the Owls.

Kogan met with four supporter groups representing the football team this week.

The football club have been facing challenges both on and off the pitch in the current year, with the club failing to pay players on time on five separate occasions, including in last month.

"Clearly Sheffield Wednesday has been a serious issue for football authorities and a major challenge for the sport," the chairman stated.

"Wednesday stands as 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 Sheffield Wednesday - and other clubs brought to our attention if they need to be investigated and addressed."

Monetary Issues and Leadership Concerns

The team's struggling chairman the current owner stated during the off-season he would be prepared to relinquish control at Hillsborough, but he has failed to complete a sale with interested parties.

Missed wage deadlines on time in March and May led to sanctions by the league officials in June, blocking the team from conducting any player acquisitions for the subsequent signing windows, although that restriction was lifted in the end of the transfer window.

Regulator's Perspective

The chairman stated: "The position was created for the Owls followers, other clubs in similar situations where fans are dedicated to a community organization that has represented their community in numerous instances.

"I completely understand the club's situation, as I do for each organization that over recent decades have faced collapse, or approached financial ruin, for factors unrelated to the fans themselves."

When asked if the authority might compel an owner to sell a club if they are deemed unsuitable, the chairman responded: "When asking whether 'would we intervene in the final instance?', the response would be once we assemble the facts and understand the situation, we will."

But the regulator clarified that compelling proprietors to divest 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 individual owner, without having the opportunity to collaborate with that proprietor to address the problems affecting the organization and the owner's facing," the regulator explained.

"However, realistically, when you review the record of football, over the past few decades there have been particular chairmen, a small minority, but particular people who have shown negligence in the way which they've been managing their clubs and ultimately don't wish to take responsibility for the long-term prospects."

'Mistakes could erase significant advances'

Kogan met with representatives from 110 clubs to lay out the remit of the authority recently and insisted it was a "progressive gathering" with a "significant participation" from the grassroots to elite level.

"The role holds considerable importance, because if errors are made, 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 huge success story - we must maintain momentum.

"There's an enormous amount of money flowing into the game and has come into football for the past two decades, because certainty is lacking it will keep flowing into the sport, which is among the factors explaining I think we have to maintain a focused outlook on potential dangers and naturally, of the coming seasons."

Premier League Concerns

Elite division representatives objected to the creation of a regulator because of concerns about detrimental effects on the elite division's competitive balance, but the regulator stated: "I fully support the achievement and development as an commercial operation of the elite league.

"I of all people understand the apprehension regarding damaging the division as a high-quality offering of the nation. But concurrently, if you consult with top flight officials after today's meeting, they would have had a high level of reassurance -and, actually, they have been telling us in private they have a considerable comfort."

Partisan Associations

The regulator remains subject to a "comprehensive investigation" by the official appointments authority after he disclosed making donations to the political party in 2020.

The 68-year-old provided financial support for Culture Secretary the minister's leadership bid, along with that of the now Prime Minister Sir Keir Starmer.

"I have fully disclosed my previous political affiliation [with Labour], and that political affiliation came to an end the day the select committee approved my appointment," Kogan said.

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