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Sheffield Wednesday's current difficulties constitute a "serious issue" and the new football authority is looking to gain the ability to look into club affairs in comparable cases, the newly appointed chairman the official has announced.

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

Kogan met with four supporters' associations connected to the South Yorkshire club recently.

The Championship side have been struggling on and off the field in the current year, with the club missing wage payments on several different times, including in September.

"Obviously the club has become a significant problem for EFL and a major challenge for the sport," Kogan told.

"Wednesday stands as one of the great brands for the English game and recently we have met supporters' organizations.

"We're now looking to get powers... which will permit us to bring Wednesday and comparable cases submitted for our review if they require examination and acted upon."

Economic Challenges and Ownership Situation

The club's controversial proprietor Dejphon Chansiri stated during the off-season he would be willing to sell up at their home ground, but he has been unable to finalize an agreement with potential new owners.

Missed wage deadlines on time in earlier this year caused limitations by the English Football League (EFL) in summer, blocking the team from conducting any transfers or loans for the next three transfer windows, although those limitations were removed in late summer.

Regulator's Perspective

The regulator explained: "Our role exists to serve the fans of Sheffield Wednesday, teams facing challenges where fans are dedicated to a regional establishment that has represented their community in many cases.

"I fully appreciate the club's situation, as I do for each organization that over recent decades have faced collapse, or approached financial ruin, for reasons that have nothing to do with the supporters."

When asked if the regulator could force an chairman to relinquish a club if they are considered unfit, the chairman responded: "Should the inquiry concern 'would we intervene in the final instance?', the response would be once we collect the information and comprehend the circumstances, we will."

But the chairman emphasized that requiring chairmen to relinquish clubs would be considered the final option and the oversight body would choose to collaborate with owners.

"The last thing what we want to do is begin intervening in an individual club, an specific proprietor, without being able to work with that proprietor to address the challenges confronting the team and the proprietor's dealing with," Kogan said.

"But the truth is, when you examine the past of football, over the recent generations there have been some owners, a small minority, but particular people who have shown negligence in the approach they have taken toward their organizations and finally decline to assume obligation for the future."

'Errors may undo substantial development'

The chairman convened with officials from numerous teams to lay out the remit of the regulator on Wednesday and insisted it was a "forward-thinking discussion" with a "high level of engagement" from the National League to the Premier League.

"This position carries substantial significance, because should mistakes occur, if the world of football gets it wrong, the remarkable development accomplished might evaporate incredibly quickly," the regulator warned.

"Such an outcome is universally undesirable in the context of the English game is a huge success story - we must maintain momentum.

"There's an enormous amount of money coming into football and has come into football for the past two decades, because there are no assurances it will continue to come into football, which is among the factors explaining I think we have to take a really clear view on risk and of course, of the immediate future."

Premier League Concerns

Elite division representatives objected to the formation of an authority because of concerns about detrimental effects on the elite division's competitive balance, but the regulator stated: "I'm absolutely committed to the success and growth as an commercial operation of the Premier League.

"I of all people understand the worry about compromising the Premier League as a premium product of England. 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, actually, they have been informing us confidentially they have a high level of reassurance."

Ideological Links

Kogan is still facing a "thorough examination" by the Commissioner for Public Appointments after he revealed he contributed money to the political party 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 been entirely transparent regarding my past party membership [with Labour], and that political affiliation came to an end the day the official body endorsed my nomination," Kogan said.

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