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Sheffield Wednesday's persistent issues are seen as a "serious issue" and the football regulator is seeking powers to look into club affairs in comparable cases, the newly appointed chairman the regulator has stated.

During an extensive discussion, the chairman, who was recently selected, voiced concern towards the club's followers.

Kogan met with four supporter groups representing the Championship side recently.

The team have been struggling on and off the field in the current year, with the club failing to pay players on time on five separate occasions, including in September.

"Obviously the club has become a major concern for the league and a significant problem for football," the chairman stated.

"Wednesday stands as one of the great brands for the English game and this week we have met fan representatives.

"Our aim is to acquire the ability... which will permit us to bring the club and similar situations brought to our attention if they need to be investigated and acted upon."

Economic Challenges and Leadership Concerns

Wednesday's embattled owner Dejphon Chansiri indicated in the summer he would be prepared to relinquish control at Hillsborough, but he has not been able to secure a deal with prospective buyers.

Delayed salary payments on time in earlier this year caused limitations by the English Football League (EFL) in mid-year, preventing the club from carrying out any player acquisitions for the following recruitment periods, although the ban was rescinded in August.

Regulator's Perspective

The regulator explained: "The job [of the regulator] is there for the Owls followers, other clubs in similar situations where supporters are loyal to a community organization that has existed throughout their lifetimes in multiple situations.

"I fully appreciate the team's plight, as I do for all the clubs that since 1992 have gone to the wall, or nearly ceased operations, for factors unrelated to the followers."

Questioned about whether the authority might compel an chairman to relinquish a club if they are judged inappropriate, 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 forcing owners to sell clubs would be treated as a "last resort" and the oversight body would choose to work with them.

"The last thing what we want to do is begin intervening in an specific team, an individual owner, without being in a position to cooperate with that chairman to fix the issues that the club's facing and the chairman's encountering," the chairman stated.

"But the truth is, when you examine the past of football, over the past few decades there have been some owners, not many, but certain individuals who have acted carelessly in the approach they have taken toward their teams and eventually decline to assume obligation for the long-term prospects."

'If we get it wrong, extraordinary progress vanishes'

The regulator engaged delegates from multiple organizations to detail the scope of the regulator on Wednesday and insisted it was a "progressive gathering" with a "substantial involvement" from the lower divisions to the top flight.

"This position carries substantial significance, because if errors are made, if the sport makes errors, the significant advances achieved might evaporate swiftly," the regulator warned.

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

"Considerable investment coming into football 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 maintain a focused outlook on risk and of course, of the coming seasons."

Top Flight Apprehensions

Elite division representatives objected to the creation of a regulator because of concerns about detrimental effects on the elite division's competitive balance, but the chairman responded: "I completely endorse the success and growth as an economic entity of the Premier League.

"As someone who appreciates the apprehension regarding damaging the top flight as an elite competition of this country. But simultaneously, if you consult with top flight officials after today's meeting, they would have had a substantial amount of confidence -and, actually, they have been advising us privately they have a significant confidence."

Ideological Links

Kogan is still facing a "thorough examination" by the official appointments authority after he revealed he contributed money to the Labour Party in recent years.

The chairman contributed funds to Culture Secretary the politician's campaign, along with that of the now Prime Minister Sir Keir Starmer.

"I have fully disclosed my former ideological connection [with Labour], and that party membership ceased the day the parliamentary committee confirmed my selection," the chairman stated.

"I currently have no participation in any type of partisan engagement."