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The Championship club's persistent issues represent a a "serious issue" and the new football authority is looking to gain the ability to investigate clubs in comparable cases, the newly appointed chairman the regulator has stated.

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

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

The Championship side have been experiencing difficulties in multiple areas in this season, with the club failing to pay players on time on five separate occasions, including in last month.

"Obviously the club has become a serious issue for football authorities and a major challenge for the sport," the regulator explained.

"The club represents one of the great brands for the English game and this week we have met Sheffield Wednesday supporters' groups.

"We're now looking to get powers... which will permit us to bring Wednesday and comparable cases referred to us if they need to be investigated and acted upon."

Economic Challenges and Proprietorship Status

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

Delayed salary payments on time in March and May resulted in restrictions being imposed by the football authorities in summer, stopping Wednesday from completing any transfers or loans for the next three transfer windows, although that restriction was lifted in the end of the transfer window.

Authority's Position

The chairman stated: "The job [of the regulator] is there for the supporters of Wednesday, teams facing challenges where fans are dedicated to a local institution that has been part of their lives in numerous instances.

"I fully appreciate Sheffield Wednesday, as I do for every team that in modern times have encountered failure, or nearly ceased operations, for reasons that have nothing to do with the fans themselves."

When asked if the oversight body could require an owner to sell a club if they are deemed unsuitable, Kogan said: "When asking whether 'would we intervene in the final instance?', the reply is once we assemble the facts and comprehend the circumstances, we will."

But the chairman emphasized that compelling proprietors to divest clubs would be viewed as the ultimate measure and the regulator would prefer to work with them.

"The last thing what we want to do is start getting involved with an specific team, an particular chairman, without being able to work with that proprietor to address the problems affecting the organization and the chairman's encountering," the regulator explained.

"But the truth is, when you examine the past of the game, over the last 20 or 30 years there have been certain proprietors, few in number, but some who have been irresponsible in the manner they have operated their organizations and finally decline to assume obligation for the future."

'If we get it wrong, extraordinary progress vanishes'

Kogan met with officials from numerous teams to explain the responsibilities of the authority recently and maintained it represented a "progressive gathering" with a "high level of engagement" from the lower divisions to the top flight.

"It's a job that's actually really important, because if errors are made, if the football community fails, the extraordinary progress that's been made necessary will vanish rapidly," Kogan said.

"And that's what nobody wants in the terms of English football is a huge success story - we need to continue the progress.

"Considerable investment entering the sport and has been channeled for the last 20 or 25 years, because there are no assurances it will keep flowing into the sport, which is part of the rationale behind I think we have to maintain a focused outlook on risk and of course, of the immediate future."

Top Flight Apprehensions

Elite division representatives objected to the formation of an authority because of apprehensions regarding adverse consequences on the Premier League's sporting equality, but Kogan said: "I completely endorse the prosperity and expansion as an economic entity of the top division.

"As someone who appreciates the worry about compromising the Premier League as a premium product of the nation. But at the same time, if you talk to the Premier League after the recent gathering, they would have had a significant degree of comfort -and, actually, they have been advising us privately they have a significant confidence."

Ideological Links

Kogan is still facing a "full inquiry" by the official appointments authority after he acknowledged providing funds to the Labour Party in 2020.

The chairman donated money to Culture Secretary the politician's campaign, along with that of the now Prime Minister Sir Keir Starmer.

"I have been entirely transparent regarding my previous political affiliation [with Labour], and that party membership ceased the day the select committee approved my appointment," Kogan said.

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