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Sheffield Wednesday's persistent issues constitute a "serious issue" and the new football authority is aiming to acquire authority to investigate clubs in comparable cases, the newly appointed chairman the regulator has declared.

Through a comprehensive talk, the chairman, who was named to the position this week, showed understanding towards Wednesday's fanbase.

Kogan met with four supporter groups connected to the South Yorkshire club recently.

The football club have been experiencing difficulties in multiple areas in this season, with the club failing to pay players on time on several different times, including in September.

"Obviously the club has become a significant problem for EFL and a substantial concern for English football," the regulator explained.

"Sheffield Wednesday is one of the iconic names for football in England and in recent days we have met fan representatives.

"We're now looking to get powers... which will enable us to take Sheffield Wednesday - and other clubs submitted for our review if they need to be investigated and addressed."

Economic Challenges and Proprietorship Status

The team's struggling chairman the current owner stated during the off-season he would be prepared to relinquish control at their home ground, but he has not been able to secure a deal with prospective buyers.

Missed wage deadlines on time in March and May resulted in restrictions being imposed by the league officials in June, preventing the club from carrying out any recruitment activities for the next three transfer windows, although the ban was rescinded in August.

Authority's Position

The chairman stated: "The position was created for the Owls followers, other clubs in similar situations where fans are dedicated to a local institution that has been part of their lives in numerous instances.

"I have absolute sympathy for the club's situation, as I do for all the clubs that since 1992 have gone to the wall, or nearly ceased operations, for factors unrelated to the supporters."

Inquired if the regulator could force an proprietor to divest a club if they are deemed unsuitable, Kogan said: "When asking whether 'would we intervene in the final instance?', the answer is once we gather the evidence and understand the situation, we will."

But Kogan stressed that compelling proprietors to divest clubs would be viewed as the ultimate measure and the oversight body would choose to cooperate with proprietors.

"The final option we would consider is commence engagement with an specific team, an specific proprietor, without being able to work with that chairman to fix the problems affecting the organization and the owner's facing," the chairman stated.

"But the truth is, when you look back over the history of the sport, over the recent generations there have been particular chairmen, a small minority, but some who have been irresponsible in the way which they've been managing their clubs and ultimately refuse to accept accountability for the long-term prospects."

'Mistakes could erase significant advances'

Kogan met with delegates from multiple organizations to lay out the remit of the regulator on Wednesday and stated it constituted a "proactive meeting" with a "substantial involvement" from the National League to the Premier League.

"The role holds considerable importance, because should mistakes occur, if the football community fails, the significant advances achieved necessary will vanish incredibly quickly," Kogan said.

"This represents everyone's worst fear in the context of the English game is a major achievement - we must maintain momentum.

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

Top Flight Apprehensions

Elite division representatives objected to the formation of an authority because of fears of a negative impact on the top-flight's competitiveness, but Kogan said: "I fully support the prosperity and expansion as an financial organization of the elite league.

"As someone who appreciates the concern of undermining the Premier League as a premium product of the nation. But concurrently, if you talk to the Premier League after the recent gathering, they would have had a high level of reassurance -and, in fact, they have been telling us in private they have a high level of reassurance."

Political Connections

The chairman continues to confront a "thorough examination" by the public appointments commissioner after he disclosed making donations to the opposition group in recent years.

The chairman contributed funds to Secretary of State for Culture, Media and Sport the politician's campaign, along with that of the government leader.

"I have fully disclosed my former ideological connection [with Labour], and that ideological connection terminated the day the official body endorsed my nomination," the regulator explained.

"I currently have no participation in any type of partisan engagement."