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The Championship club's persistent issues represent a a "serious issue" and the independent regulator is seeking powers to look into club affairs in comparable cases, the newly appointed chairman the official has declared.

In a wide-ranging interview, the chairman, who was appointed on Monday, showed understanding towards supporters of the Owls.

The chairman convened with four supporter groups associated with the football team this week.

The football club have been struggling on and off the field in this season, with the club missing wage payments on several different times, including in September.

"Clearly Sheffield Wednesday has been a significant problem for EFL and a major challenge for the sport," the regulator explained.

"The club represents one of the historic institutions for football in England and this week we have met Sheffield Wednesday supporters' groups.

"We're now looking to get powers... which will allow us to have Sheffield Wednesday - and other clubs submitted for our review if they warrant scrutiny and addressed."

Monetary Issues and Leadership Concerns

The club's controversial proprietor the Thai businessman suggested earlier this year he would be open to selling the club at their home ground, but he has not been able to secure a deal with potential new owners.

Delayed salary payments on time in earlier this year led to sanctions by the football authorities in summer, stopping Wednesday from completing any recruitment activities for the following recruitment periods, although that restriction was lifted in late summer.

Official's Viewpoint

The regulator explained: "Our role exists to serve the supporters of Wednesday, other clubs in similar situations where fans are dedicated to a community organization that has been part of their lives in multiple situations.

"I completely understand Sheffield Wednesday, as I do for every team that over recent decades have faced collapse, or approached financial ruin, for reasons that have nothing to do with the supporters."

Inquired if the oversight body could require an proprietor to divest a club if they are judged inappropriate, Kogan said: "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 regulator clarified that compelling proprietors to divest clubs would be viewed as the ultimate measure and the authority would rather to work with them.

"Our least desirable course of action is begin intervening in an individual club, an individual owner, without having the opportunity to collaborate with that proprietor to address the problems affecting the organization and the owner's facing," the regulator explained.

"However, realistically, when you review the record of the sport, over the past few decades there have been some owners, a small minority, but particular people who have shown negligence in the approach they have taken toward their teams and eventually decline to assume obligation for the coming years."

'If we get it wrong, extraordinary progress vanishes'

The regulator engaged 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 grassroots to elite level.

"This position carries substantial significance, because if we get it wrong, 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 substantial accomplishment - we need to continue the progress.

"There's an enormous amount of money entering the sport and has been channeled for the recent generations, because there's no guarantee it will persist in entering the game, which is part of the rationale behind 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 creation of a regulator because of concerns about detrimental effects on the elite division's competitive balance, but the regulator stated: "I fully support the success and growth as an commercial operation of the elite league.

"As someone who appreciates the apprehension regarding damaging the Premier League as a premium product of England. But simultaneously, if you consult with top flight officials after today's meeting, they would have had a substantial amount of confidence -and, indeed, they have been advising us privately they have a considerable comfort."

Ideological Links

Kogan is still facing a "full inquiry" by the official appointments authority after he revealed he contributed money to the opposition group in the past.

The chairman provided financial support for Secretary of State for Culture, Media and Sport the minister's leadership bid, along with that of the government leader.

"I have fully disclosed my former ideological connection [with Labour], and that political affiliation came to an end the day the official body endorsed my nomination," the chairman stated.

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