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Sheffield Wednesday's ongoing struggles represent a a "serious issue" and the new football authority is looking to gain the ability to look into club affairs in similar circumstances, the recently named head David Kogan has stated.

In a wide-ranging interview, the chairman, who was appointed on Monday, expressed "sympathy" towards supporters of the Owls.

The chairman convened with four supporters' associations representing the football team in recent days.

The Championship side have been facing challenges both on and off the pitch in this season, with the club failing to pay players on time on multiple instances, including in last month.

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

"Sheffield Wednesday is one of the great brands for English football and recently we have met fan representatives.

"We are seeking authority... which will enable us to take the club and similar situations brought to our attention if they require examination and dealt with."

Monetary Issues and Ownership Situation

The club's controversial proprietor the Thai businessman stated during the off-season he would be open to selling the club at Hillsborough, but he has failed to complete a sale with prospective buyers.

Delayed salary payments on time in spring months resulted in restrictions being imposed by the league officials in mid-year, preventing the club from carrying out any transfers or loans for the following recruitment periods, although that restriction was lifted in August.

Authority's Position

Kogan said: "Our role exists to serve the fans of Sheffield Wednesday, teams facing challenges where fans are dedicated to a community organization that has existed throughout their lifetimes in numerous instances.

"I fully appreciate the team's plight, as I do for every team that since 1992 have gone to the wall, or approached financial ruin, for causes separate from the followers."

Inquired if the regulator could force an chairman to relinquish a club if they are deemed unsuitable, Kogan said: "When asking whether '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 compelling proprietors to divest clubs would be considered the final option and the regulator would prefer to collaborate with owners.

"The final option we would consider is start getting involved with an individual club, an specific proprietor, without being able to work 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 review the record of football, over the recent generations there have been some owners, a small minority, but particular people who have shown negligence in the way which they've been managing their teams and eventually refuse to accept accountability for the future."

'If we get it wrong, extraordinary progress vanishes'

Kogan met with officials from numerous teams to detail the scope of the oversight body this week and insisted it was a "proactive meeting" with a "significant participation" from the grassroots to elite level.

"It's a job that's actually really important, because should mistakes occur, if the football community fails, the remarkable development accomplished necessary will vanish rapidly," the regulator warned.

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

"Considerable investment entering the sport and has been channeled for the past two decades, because there's no guarantee it will continue to come into football, which is part of the rationale behind I think we have to take a really clear view on challenges and obviously, of the coming seasons."

Premier League Concerns

Elite division representatives objected to the establishment of an oversight body because of fears of a negative impact on the Premier League's sporting equality, but Kogan said: "I fully support the achievement and development as an economic entity of the Premier League.

"I of all people understand the concern of undermining the top flight as an elite competition of the nation. But simultaneously, if you engage with division representatives after this week's discussion, they would have had a significant degree of comfort -and, indeed, they have been advising us privately they have a considerable comfort."

Partisan Associations

The regulator remains subject to a "thorough examination" by the public appointments commissioner after he disclosed making donations to the Labour Party in the past.

The 68-year-old contributed funds to Culture Secretary Lisa Nandy's leadership campaign, 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 parliamentary committee confirmed my selection," the regulator explained.

"I am no longer involved in any form of political activity."