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Sheffield Wednesday's current difficulties represent a a "significant problem" and the independent regulator is looking to gain the ability to examine team situations in comparable cases, its new chair David Kogan has declared.

In a wide-ranging interview, the chairman, who was appointed on Monday, voiced concern towards the club's followers.

Kogan met with four supporters' associations connected to the South Yorkshire club recently.

The Championship side have been facing challenges both on and off the pitch in the current year, with the club missing wage payments on five separate occasions, including in September.

"Obviously the club has become a significant problem for EFL and a significant problem for football," Kogan told.

"Wednesday stands as one of the historic institutions for football in England and in recent days we have met Sheffield Wednesday supporters' groups.

"We are seeking authority... which will enable us to take Wednesday and comparable cases brought to our attention if they need to be investigated and acted upon."

Economic Challenges and Ownership Situation

Wednesday's embattled owner the current owner indicated in the summer he would be prepared to relinquish control at the stadium, but he has been unable to finalize an agreement with prospective buyers.

Missed wage deadlines on time in March and May resulted in restrictions being imposed by the football authorities in mid-year, blocking the team from conducting any recruitment activities for the next three transfer windows, although that restriction was lifted in late summer.

Official's Viewpoint

The regulator explained: "The position was created for the fans of Sheffield Wednesday, Bury or any football club where supporters are loyal to a regional establishment that has been part of their lives in numerous instances.

"I completely understand Sheffield Wednesday, as I do for every team that over recent decades have faced collapse, or been close to going to the wall, for factors unrelated to the supporters."

Inquired if the oversight body could require an chairman to relinquish a club if they are deemed unsuitable, the chairman responded: "Should the inquiry concern 'would we intervene in the final instance?', the answer is once we gather the evidence and know what's going on, we will."

But the regulator clarified that compelling proprietors to divest clubs would be considered the final option and the authority would rather to cooperate with proprietors.

"The last thing what we want to do is start getting involved with an specific team, an particular chairman, without having the opportunity to collaborate with that owner to try and resolve the problems affecting the organization and the chairman's encountering," the chairman stated.

"But the truth is, when you review the record of the sport, over the last 20 or 30 years there have been particular chairmen, a small minority, but certain individuals who have acted carelessly in the way which they've been managing their clubs and ultimately don't wish to take responsibility for the long-term prospects."

'Errors may undo substantial development'

Kogan met with delegates from multiple organizations to lay out the remit of the oversight body this week and insisted it was a "proactive meeting" with a "substantial involvement" from the National League to the Premier League.

"It's a job that's actually really important, because if errors are made, if the world of football gets it wrong, the extraordinary progress that's been made necessary will vanish incredibly quickly," the regulator warned.

"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 coming into football and has been invested for the last 20 or 25 years, because certainty is lacking it will continue to come into football, which is one of the reasons why I think we have to take a really clear view on risk and of course, of the coming seasons."

Premier League Concerns

Elite division representatives objected to the creation of a regulator because of fears of a negative impact on the elite division's competitive balance, but the regulator stated: "I completely endorse the prosperity and expansion as an commercial operation of the top division.

"I of all people understand the apprehension regarding damaging the division as a high-quality offering of this country. But at the same time, if you engage with division representatives after this week's discussion, they would have had a high level of reassurance -and, in fact, they have been advising us privately they have a significant confidence."

Political Connections

Kogan is still facing a "full inquiry" by the official appointments authority after he disclosed making donations to the Labour Party in the past.

The 68-year-old provided financial support for Culture Secretary the politician's campaign, along with that of the current Prime Minister.

"I've been completely open about my former ideological connection [with Labour], and that political affiliation came to an end the day the parliamentary committee confirmed my selection," the chairman stated.

"I currently have no participation in any form of political activity."