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Sheffield Wednesday's ongoing struggles constitute a "major concern" and the football regulator is seeking powers to investigate clubs in similar circumstances, its new chair David Kogan has declared.

During an extensive discussion, Kogan, who was named to the position this week, showed understanding towards supporters of the Owls.

The chairman convened with four supporters' associations connected to the football team this week.

The Championship side have been struggling on and off the field in the current year, with the club missing wage payments on multiple instances, including in the autumn.

"Obviously the club has become a serious issue for football authorities and a substantial concern for English football," the regulator explained.

"Sheffield Wednesday is one of the historic institutions for the English game and recently we have met fan representatives.

"We are seeking authority... which will permit us to bring Wednesday and comparable cases referred to us if they require examination and addressed."

Financial Struggles and Ownership Situation

The team's struggling chairman the current owner stated during the off-season he would be prepared to relinquish control at Hillsborough, but he has failed to complete a sale with interested parties.

Missed wage deadlines on time in March and May led to sanctions 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 late summer.

Authority's Position

Kogan said: "Our role exists to serve the Owls followers, Bury or any football club where supporters are loyal to a local institution that has been part of their lives in multiple situations.

"I fully appreciate the club's situation, as I do for all the clubs that since 1992 have gone to the wall, or approached financial ruin, for factors unrelated to the supporters."

Inquired if the authority might compel an proprietor to divest a club if they are deemed unsuitable, the regulator answered: "If your question is 'would we intervene in the final instance?', the answer is once we assemble the facts and comprehend the circumstances, we will."

But the chairman emphasized that requiring chairmen to relinquish clubs would be treated as a "last resort" and the regulator would prefer to work with them.

"The final option we would consider is commence engagement with an individual club, an specific proprietor, without having the opportunity to collaborate with that chairman to fix the issues that the club's facing and the proprietor's dealing with," Kogan said.

"But the truth is, when you review the record of the sport, over the past few decades there have been particular chairmen, not many, but certain individuals who have acted carelessly in the way which they've been managing their clubs and ultimately refuse to accept accountability for the long-term prospects."

'Errors may undo substantial development'

The regulator engaged representatives from 110 clubs to detail the scope of the regulator on Wednesday and insisted it was a "forward-thinking discussion" with a "high level of engagement" from the grassroots to elite level.

"The role holds considerable importance, because should mistakes occur, if the football community fails, the remarkable development accomplished might evaporate incredibly quickly," the regulator warned.

"This represents everyone's worst fear in the terms of English football is a huge success story - we've got to keep it going.

"Substantial financial resources entering the sport and has come into football for the recent generations, because certainty is lacking it will continue to come into football, which is among the factors explaining I think we have to adopt a precise perspective on challenges and obviously, of the next two or three years."

Top Flight Apprehensions

The Premier League opposed the creation of a regulator because of apprehensions regarding adverse consequences on the elite division's competitive balance, but Kogan said: "I'm absolutely committed to the prosperity and expansion as an financial organization of the top division.

"Being fully aware of the concern of undermining the Premier League as a premium product of this country. But at the same time, if you talk to the Premier League after the recent gathering, they would have had a high level of reassurance -and, actually, they have been telling us in private they have a significant confidence."

Ideological Links

The chairman continues to confront a "thorough examination" by the Commissioner for Public Appointments after he acknowledged providing funds to the Labour Party in the past.

The 68-year-old donated money to Culture Secretary Lisa Nandy's leadership campaign, along with that of the now Prime Minister Sir Keir Starmer.

"I have fully disclosed my previous political affiliation [with Labour], and that ideological connection terminated the day the select committee approved my appointment," the regulator explained.

"I am presently disconnected from any form of political activity."