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The Championship club's persistent issues represent a a "major concern" and the football regulator is looking to gain the ability to look into club affairs in comparable cases, its new chair the regulator has announced.

In a wide-ranging interview, Kogan, who was named to the position this week, expressed "sympathy" towards the club's followers.

The regulator engaged with four fan organizations representing the Championship side this week.

The Championship side have been struggling on and off the field in the current year, with the club failing to pay players on time on five separate occasions, including in the autumn.

"Clearly Sheffield Wednesday has been a serious issue for football authorities and a substantial concern for English football," the regulator explained.

"Wednesday stands as one of the great brands for English football and in recent days we have met supporters' organizations.

"We are seeking authority... which will enable us to take the club and similar situations referred to us if they warrant scrutiny and addressed."

Financial Struggles and Proprietorship Status

Wednesday's embattled owner the Thai businessman stated during the off-season he would be open to selling the club at the stadium, but he has not been able to secure a deal with potential new owners.

Failure to pay player wages on time in spring months caused limitations by the English Football League (EFL) in June, stopping Wednesday from completing any player acquisitions for the subsequent signing windows, although that restriction was lifted in August.

Authority's Position

The chairman stated: "Our role exists to serve the fans of Sheffield Wednesday, other clubs in similar situations where supporters are loyal to a community organization that has existed throughout their lifetimes in multiple situations.

"I fully appreciate the team's plight, as I do for each organization that over recent decades have faced collapse, or been close to going to the wall, for causes separate from the fans themselves."

When asked if the regulator could force an chairman to relinquish a club if they are judged inappropriate, the chairman responded: "When asking whether 'would we intervene in the final instance?', the response would be once we gather the evidence 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 collaborate with owners.

"The final option we would consider is begin intervening in an individual club, an individual owner, without having the opportunity to collaborate with that chairman to fix the challenges confronting the team and the proprietor's dealing with," the chairman stated.

"However, realistically, when you look back over the history of the sport, over the past few decades there have been some owners, few in number, but particular people who have shown negligence in the approach they have taken toward their teams and eventually refuse to accept accountability for the long-term prospects."

'Mistakes could erase significant advances'

The regulator engaged officials from numerous teams to lay out the remit of the regulator on Wednesday and stated it constituted a "progressive gathering" with a "significant participation" from the grassroots to elite level.

"It's a job that's actually really important, because if we get it wrong, if the sport makes errors, the extraordinary progress that's been made necessary will vanish swiftly," Kogan said.

"Such an outcome is universally undesirable in the realm of domestic football is a substantial accomplishment - we must maintain momentum.

"There's an enormous amount of money flowing into the game and has been invested for the last 20 or 25 years, because certainty is lacking it will persist in entering the game, which is part of the rationale behind I think we have to take a really clear view on potential dangers and naturally, of the coming seasons."

Top Flight Apprehensions

Elite division representatives objected to the creation of a regulator because of concerns about detrimental effects on the top-flight's competitiveness, but the regulator stated: "I'm absolutely committed to the success and growth as an commercial operation of the top division.

"Being fully aware of the apprehension regarding damaging the Premier League as a premium product of this country. But simultaneously, 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 considerable comfort."

Political Connections

Kogan is still facing a "comprehensive investigation" by the Commissioner for Public Appointments after he revealed he contributed money to the Labour Party in recent years.

The chairman donated money to Culture Secretary the minister's leadership bid, along with that of the government leader.

"I've been completely open about my previous political affiliation [with Labour], and that political affiliation came to an end the day the select committee approved my appointment," the chairman stated.

"I am presently disconnected from any type of partisan engagement."