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The Championship club's ongoing struggles constitute a "major concern" and the football regulator is aiming to acquire authority to investigate clubs in comparable cases, its new chair the regulator has declared.

In a wide-ranging interview, the chairman, who was appointed on Monday, expressed "sympathy" towards Wednesday's fanbase.

The regulator engaged with four supporters' associations connected to the South Yorkshire club this week.

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

"Sheffield Wednesday is one of the historic institutions for football in England and in recent days we have met supporters' organizations.

"We are seeking authority... which will enable us to take Sheffield Wednesday - and other clubs referred to us if they need to be investigated and dealt with."

Monetary Issues and Leadership Concerns

The club's controversial proprietor the current owner indicated in the summer he would be open to selling the club at Hillsborough, but he has not been able to secure a deal with interested parties.

Missed wage deadlines on time in earlier this year caused limitations by the league officials in June, preventing the club from carrying out any transfers or loans for the following recruitment periods, although those limitations were removed in August.

Regulator's Perspective

The regulator explained: "The job [of the regulator] is there for the supporters of Wednesday, Bury or any football club where people are committed to a local institution that has been part of their lives in multiple situations.

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

Inquired if the authority might compel an owner to sell a club if they are judged inappropriate, the chairman responded: "If your question is 'would we intervene in the final instance?', the response would be once we collect the information and know what's going on, we will."

But the chairman emphasized that compelling proprietors to divest clubs would be treated as a "last resort" and the authority would rather to work with them.

"The final option we would consider is commence engagement with an particular organization, an individual owner, without being in a position to cooperate with that owner to try and resolve the issues that the club's facing and the chairman's encountering," Kogan said.

"However, realistically, when you look back over the history of the sport, over the past few decades there have been particular chairmen, not many, but some who have been irresponsible in the way which they've been managing their teams and eventually decline to assume obligation for the future."

'Mistakes could erase significant advances'

Kogan met with officials from numerous teams to lay out the remit of the authority recently and maintained it represented a "progressive gathering" with a "significant participation" from the National League to the Premier League.

"This position carries substantial significance, because if errors are made, if the sport makes errors, the extraordinary progress that's been made necessary will vanish incredibly quickly," the chairman stated.

"Such an outcome is universally undesirable in the context of the English game is a substantial accomplishment - we've got to keep it going.

"Considerable investment entering the sport and has been channeled for the recent generations, because there are no assurances it will keep flowing into the sport, which is one of the reasons why I think we have to take a really clear view on potential dangers and naturally, of the next two or three years."

Premier League Concerns

The Premier League opposed the establishment of an oversight body because of apprehensions regarding adverse consequences on the elite division's competitive balance, but the chairman responded: "I'm absolutely committed to the success and growth as an financial organization of the Premier League.

"I of all people understand the concern of undermining the top flight as an elite competition of this country. But at the same time, if you talk to the Premier League after this week's discussion, they would have had a high level of reassurance -and, actually, they have been informing us confidentially they have a significant confidence."

Partisan Associations

The regulator remains subject to a "full inquiry" by the public appointments commissioner after he revealed he contributed money to the political party in recent years.

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

"I have fully disclosed my past party membership [with Labour], and that ideological connection terminated the day the official body endorsed my nomination," Kogan said.

"I currently have no participation in any form of political activity."