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Sheffield Wednesday's persistent issues represent a a "major concern" and the football regulator is aiming to acquire authority to look into club affairs in similar circumstances, the newly appointed chairman the regulator has announced.

During an extensive discussion, the regulator, who was recently selected, expressed "sympathy" towards the club's followers.

The regulator engaged with four supporters' associations representing the football team recently.

The team have been struggling on and off the field in this season, with the club failing to pay players on time on five separate occasions, including in September.

"Clearly Sheffield Wednesday has been a significant problem for EFL and a major challenge for the sport," Kogan told.

"Wednesday stands as one of the iconic names for the English game and this week we have met supporters' organizations.

"We're now looking to get powers... which will enable us to take the club and similar situations brought to our attention if they warrant scrutiny and acted upon."

Financial Struggles and Leadership Concerns

The team's struggling chairman Dejphon Chansiri stated during the off-season he would be willing to sell up at their home ground, but he has been unable to finalize an agreement with interested parties.

Failure to pay player wages on time in earlier this year caused limitations by the football authorities in mid-year, blocking the team from conducting any player acquisitions for the following recruitment periods, although that restriction was lifted in the end of the transfer window.

Official's Viewpoint

Kogan said: "Our role exists to serve the fans of Sheffield Wednesday, Bury or any football club where fans are dedicated to a community organization that has existed throughout their lifetimes in multiple situations.

"I completely understand the team's plight, as I do for each organization that in modern times have encountered failure, or approached financial ruin, for factors unrelated to the supporters."

Inquired if the authority might compel an chairman to relinquish a club if they are considered unfit, Kogan said: "When asking whether 'would we intervene in the final instance?', the answer is once we assemble the facts and comprehend the circumstances, we will."

But Kogan stressed that requiring chairmen to relinquish clubs would be considered the final option and the regulator would prefer to collaborate with owners.

"The last thing what we want to do is start getting involved with an specific team, an individual owner, without being able to work with that proprietor to address the issues that the club's facing and the proprietor's dealing with," the regulator explained.

"In actuality, when you examine the past of football, over the recent generations there have been some owners, not many, but certain individuals who have acted carelessly in the manner they have operated their organizations and finally don't wish to take responsibility for the future."

'If we get it wrong, extraordinary progress vanishes'

The chairman convened with officials from numerous teams to explain the responsibilities of the regulator on Wednesday and insisted it was a "proactive meeting" with a "significant participation" from the grassroots to elite level.

"This position carries substantial significance, because should mistakes occur, if the sport makes errors, the extraordinary progress that's been made could disappear swiftly," the regulator warned.

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

"There's an enormous amount of money coming into football and has come into football for the past two decades, because certainty is lacking it will continue to come into football, which is among the factors explaining I think we have to adopt a precise perspective on challenges and obviously, of the next two or three years."

Elite Division Worries

Elite division representatives objected to the creation of a regulator because of concerns about detrimental effects on the Premier League's sporting equality, but Kogan said: "I fully support the prosperity and expansion as an commercial operation of the Premier League.

"As someone who appreciates the concern of undermining the division as a high-quality offering of this country. But simultaneously, if you talk to the Premier League after today's meeting, they would have had a high level of reassurance -and, in fact, they have been advising us privately they have a significant confidence."

Partisan Associations

Kogan is still facing a "comprehensive investigation" by the public appointments commissioner after he acknowledged providing funds to the political party in 2020.

The official provided financial support for government minister 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 parliamentary committee confirmed my selection," Kogan said.

"I am presently disconnected from any sort of politics."