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Sheffield Wednesday's current difficulties represent a a "major concern" and the new football authority is seeking powers to look into club affairs in such situations, the recently named head the regulator has announced.

During an extensive discussion, Kogan, who was recently selected, expressed "sympathy" towards Wednesday's fanbase.

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

The Championship side have been facing challenges both on and off the pitch in this season, with the club missing wage payments on several different times, including in the autumn.

"Evidently Wednesday represents a major concern for the league and a substantial concern for English football," the regulator explained.

"Sheffield Wednesday is one of the iconic names for the English game and recently we have met Sheffield Wednesday supporters' groups.

"Our aim is to acquire the ability... which will permit us to bring Wednesday and comparable cases referred to us if they need to be investigated and addressed."

Financial Struggles and Proprietorship Status

The team's struggling chairman Dejphon Chansiri suggested earlier this year he would be open to selling the club at Hillsborough, but he has been unable to finalize an agreement with potential new owners.

Missed wage deadlines on time in March and May resulted in restrictions being imposed by the English Football League (EFL) in June, stopping Wednesday from completing any player acquisitions for the next three transfer windows, although that restriction was lifted in August.

Regulator's Perspective

The chairman stated: "The job [of the regulator] is there for the Owls followers, Bury or any football club where fans are dedicated to a community organization that has been part of their lives in many cases.

"I have absolute sympathy for the club's situation, as I do for each organization that in modern times have encountered failure, or been close to going to the wall, for factors unrelated to the supporters."

Questioned about whether the regulator could force an owner to sell a club if they are judged inappropriate, Kogan said: "Should the inquiry concern 'would we intervene in the final instance?', the reply is 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 considered the final option and the authority would rather to collaborate with owners.

"Our least desirable course of action is commence engagement with an specific team, an specific proprietor, without being in a position to cooperate with that owner to try and resolve the issues that the club's facing and the proprietor's dealing with," the chairman stated.

"But the truth is, when you review the record of the game, over the past few decades there have been some owners, a small minority, but particular people who have shown negligence in the way which they've been managing their clubs and ultimately don't wish to take responsibility for the coming years."

'If we get it wrong, extraordinary progress vanishes'

The chairman convened with representatives from 110 clubs to detail the scope of the oversight body this week and stated it constituted a "forward-thinking discussion" with a "substantial involvement" from the grassroots to elite level.

"This position carries substantial significance, because should mistakes occur, if the sport makes errors, the extraordinary progress that's been made might evaporate rapidly," Kogan said.

"Such an outcome is universally undesirable in the terms of English football is a substantial accomplishment - we must maintain momentum.

"Substantial financial resources flowing into the game and has been invested for the past two decades, because there are no assurances it will keep flowing into the sport, which is one of the reasons why I think we have to adopt a precise perspective on challenges and obviously, of the coming seasons."

Elite Division Worries

The Premier League opposed the formation of an authority because of apprehensions regarding adverse consequences on the top-flight's competitiveness, but the chairman responded: "I'm absolutely committed to the prosperity and expansion as an financial organization of the elite league.

"Being fully aware of the apprehension regarding damaging the division as a high-quality offering of the nation. But concurrently, if you consult with top flight officials after the recent gathering, they would have had a significant degree of comfort -and, in fact, they have been telling us in private they have a significant confidence."

Political Connections

The chairman continues to confront a "full inquiry" by the public appointments commissioner after he disclosed making donations to the political party in the past.

The chairman donated money to Culture Secretary the minister's leadership bid, 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 parliamentary committee confirmed my selection," Kogan said.

"I am no longer involved in any type of partisan engagement."