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Sheffield Wednesday's persistent issues constitute a "significant problem" and the football regulator is looking to gain the ability to look into club affairs in comparable cases, the newly appointed chairman the regulator has announced.

During an extensive discussion, Kogan, who was appointed on Monday, voiced concern towards Wednesday's fanbase.

The regulator engaged with four supporter groups representing the South Yorkshire club this week.

The football club have been facing challenges both on and off the pitch in the current year, with the club delaying salary disbursements on five separate occasions, including in the autumn.

"Evidently Wednesday represents a major concern for the league and a major challenge for the sport," Kogan told.

"Sheffield Wednesday is one of the iconic names for the English game and in recent days 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 warrant scrutiny and acted upon."

Economic Challenges and Ownership Situation

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

Failure to pay player wages on time in spring months resulted in restrictions being imposed by the football authorities in June, blocking the team from conducting any transfers or loans for the next three transfer windows, although the ban was rescinded in August.

Regulator's Perspective

The regulator explained: "The position was created for the fans of Sheffield Wednesday, Bury or any football club where people are committed to a local institution that has existed throughout their lifetimes in numerous instances.

"I have absolute sympathy for Sheffield Wednesday, as I do for each organization that since 1992 have gone to the wall, or nearly ceased operations, for causes separate from the supporters."

Questioned about whether the regulator could force an proprietor to divest a club if they are considered unfit, the chairman responded: "If your question is 'would we intervene in the final instance?', the response would be once we assemble the facts and know what's going on, we will."

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

"The final option we would consider is commence engagement with an individual club, an particular chairman, without being in a position to cooperate with that proprietor to address the issues that the club's facing and the chairman's encountering," the regulator explained.

"But the truth is, when you look back over the history of the sport, over the last 20 or 30 years there have been certain proprietors, not many, but particular people who have shown negligence in the approach they have taken toward their clubs and ultimately don't wish to take responsibility for the future."

'Errors may undo substantial development'

Kogan met with delegates from multiple organizations to explain the responsibilities of the authority recently and maintained it represented a "forward-thinking discussion" with a "significant participation" from the lower divisions to the top flight.

"It's a job that's actually really important, because should mistakes occur, if the sport makes errors, the extraordinary progress that's been made could disappear incredibly quickly," the regulator warned.

"This represents everyone's worst fear in the realm of domestic football is a major achievement - we must maintain momentum.

"Considerable investment flowing into the game and has been invested for the recent generations, 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 immediate future."

Premier League Concerns

Top flight officials resisted the establishment of an oversight body because of concerns about detrimental effects on the top-flight's competitiveness, but Kogan said: "I'm absolutely committed to the prosperity and expansion as an economic entity of the top division.

"I of all people understand the apprehension regarding damaging the division as a high-quality offering of England. But simultaneously, if you consult with top flight officials after this week's discussion, they would have had a significant degree of comfort -and, in fact, they have been advising us privately they have a significant confidence."

Partisan Associations

The regulator remains subject to a "full inquiry" by the Commissioner for Public Appointments after he acknowledged providing funds to the opposition group in recent years.

The chairman contributed funds to government minister the minister's leadership bid, along with that of the now Prime Minister Sir Keir Starmer.

"I have fully disclosed my past party membership [with Labour], and that party membership ceased the day the parliamentary committee confirmed my selection," Kogan said.

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