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Sheffield Wednesday's ongoing struggles constitute a "serious issue" and the football regulator is aiming to acquire authority to investigate clubs in similar circumstances, its new chair David Kogan has stated.

In a wide-ranging interview, Kogan, who was named to the position this week, expressed "sympathy" towards supporters of the Owls.

The regulator engaged with four supporters' associations connected to the South Yorkshire club in recent days.

The team have been experiencing difficulties in multiple areas in the current year, with the club delaying salary disbursements on multiple instances, including in September.

"Evidently Wednesday represents a serious issue for football authorities and a substantial concern for English football," Kogan told.

"The club represents one of the great brands for football in England and this week we have met fan representatives.

"We're now looking to get powers... which will enable us to take the club and similar situations submitted for our review if they need to be investigated and addressed."

Monetary Issues and Ownership Situation

The club's controversial proprietor Dejphon Chansiri indicated in the summer he would be willing to sell up at Hillsborough, but he has not been able to secure a deal with interested parties.

Failure to pay player wages on time in spring months led to sanctions by the football authorities in June, stopping Wednesday from completing any player acquisitions for the subsequent signing windows, although that restriction was lifted in late summer.

Regulator's Perspective

The chairman stated: "The job [of the regulator] is there for the Owls followers, other clubs in similar situations where fans are dedicated to a community organization that has existed throughout their lifetimes in numerous instances.

"I completely understand Sheffield Wednesday, as I do for all the clubs that since 1992 have gone to the wall, or nearly ceased operations, for factors unrelated to the followers."

When asked if the regulator could force an proprietor to divest a club if they are deemed unsuitable, the chairman responded: "When asking whether 'would we intervene in the final instance?', the response would be 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 treated as a "last resort" and the oversight body would choose to cooperate with proprietors.

"The last thing what we want to do is start getting involved with an individual club, an individual owner, without being in a position to cooperate with that proprietor to address the problems affecting the organization and the chairman's encountering," the regulator explained.

"In actuality, when you review the record of football, over the last 20 or 30 years there have been particular chairmen, not many, but certain individuals who have acted carelessly in the approach they have taken toward their clubs and ultimately don't wish to take responsibility for the future."

'If we get it wrong, extraordinary progress vanishes'

Kogan met with representatives from 110 clubs to explain the responsibilities of the authority recently and insisted it was 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 football community fails, the significant advances achieved could disappear swiftly," Kogan said.

"And that's what nobody wants in the terms of English football is a huge success story - we've got to keep it going.

"Considerable investment coming into football and has been channeled for the recent generations, because there's no guarantee it will persist in entering the game, which is among the factors explaining I think we have to take a really clear view on risk and of course, of the coming seasons."

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 financial organization of the elite league.

"Being fully aware of the concern of undermining the top flight as an elite competition of the nation. But at the same time, if you engage with division representatives after this week's discussion, they would have had a substantial amount of confidence -and, indeed, they have been telling us in private they have a significant confidence."

Partisan Associations

The regulator remains subject to a "full inquiry" by the public appointments commissioner after he acknowledged providing funds to the Labour Party in recent years.

The 68-year-old provided financial support for Secretary of State for Culture, Media and Sport the politician's campaign, along with that of the now Prime Minister Sir Keir Starmer.

"I've been completely open about my previous political affiliation [with Labour], and that political affiliation came to an end the day the official body endorsed my nomination," the regulator explained.

"I currently have no participation in any sort of politics."