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Sheffield Wednesday's current difficulties are seen as a "major concern" and the football regulator is seeking powers to investigate clubs in similar circumstances, its new chair the regulator has announced.

In a wide-ranging interview, the chairman, who was named to the position this week, expressed "sympathy" towards Wednesday's fanbase.

The chairman convened with four supporters' associations representing the South Yorkshire club this week.

The Championship side have been struggling on and off the field in this season, with the club delaying salary disbursements on five separate occasions, including in the autumn.

"Clearly Sheffield Wednesday has been a major concern for the league and a major challenge for the sport," Kogan told.

"Sheffield Wednesday is one of the iconic names for the English game and in recent days we have met supporters' organizations.

"We are seeking authority... which will enable us to take Sheffield Wednesday - and other clubs submitted for our review if they warrant scrutiny and dealt with."

Economic Challenges and Proprietorship Status

The team's struggling chairman the current owner indicated in the summer he would be open to selling the club at their home ground, but he has failed to complete a sale with potential new owners.

Delayed salary payments on time in March and May led to sanctions by the English Football League (EFL) in mid-year, preventing the club from carrying out any player acquisitions for the subsequent signing windows, although those limitations were removed in the end of the transfer window.

Regulator's Perspective

Kogan said: "The position was created for the Owls followers, teams facing challenges where people are committed to a community organization that has represented their community in multiple situations.

"I fully appreciate the club's situation, as I do for all the clubs that in modern times have encountered failure, or been close to going to the wall, for causes separate from the followers."

Questioned about whether the regulator could force an proprietor to divest a club if they are judged inappropriate, Kogan said: "If your question is 'would we intervene in the final instance?', the answer is once we assemble the facts and know what's going on, we will."

But Kogan stressed that compelling proprietors to divest clubs would be viewed as the ultimate measure and the oversight body would choose to cooperate with proprietors.

"The final option we would consider is begin intervening in an specific team, an particular chairman, without having the opportunity to collaborate with that owner to try and resolve the issues that the club's facing and the chairman's encountering," Kogan said.

"In actuality, when you look back over the history of the game, over the last 20 or 30 years there have been certain proprietors, a small minority, but certain individuals who have acted carelessly in the manner they have operated their clubs and ultimately decline to assume obligation for the future."

'Mistakes could erase significant advances'

The chairman convened with delegates from multiple organizations to explain the responsibilities of the oversight body this week and stated it constituted a "forward-thinking discussion" with a "high level of engagement" from the grassroots to elite level.

"It's a job that's actually really important, because should mistakes occur, if the sport makes errors, the significant advances achieved could disappear incredibly quickly," the regulator warned.

"And that's what nobody wants in the terms of English football is a huge success story - we've got to keep it going.

"There's an enormous amount of money entering the sport and has been invested for the past two decades, because there are no assurances it will persist in entering the game, which is among the factors explaining I think we have to take a really clear view on challenges and obviously, of the next two or three years."

Elite Division Worries

Elite division representatives objected to the formation of an authority because of apprehensions regarding adverse consequences on the top-flight's competitiveness, but the regulator stated: "I'm absolutely committed to the success and growth as an economic entity of the top division.

"Being fully aware of the concern of undermining the Premier League as a premium product of this country. But concurrently, if you talk to the Premier League after the recent gathering, they would have had a high level of reassurance -and, in fact, they have been informing us confidentially they have a considerable comfort."

Partisan Associations

The chairman continues to confront a "comprehensive investigation" by the public appointments commissioner after he acknowledged providing funds to the opposition group in 2020.

The 68-year-old donated money to government minister the minister's leadership bid, along with that of the now Prime Minister Sir Keir Starmer.

"I've been completely open about my past party membership [with Labour], and that ideological connection terminated the day the official body endorsed my nomination," the regulator explained.

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