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Sheffield Wednesday's persistent issues constitute a "major concern" and the independent regulator is seeking powers to investigate clubs in such situations, the newly appointed chairman the regulator has announced.

Through a comprehensive talk, the regulator, who was named to the position this week, expressed "sympathy" towards supporters of the Owls.

Kogan met with four supporter groups representing the football team in recent days.

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

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

"Sheffield Wednesday is one of the historic institutions for English football and in recent days we have met fan representatives.

"We're now looking to get powers... which will enable us to take Sheffield Wednesday - and other clubs brought to our attention if they need to be investigated and addressed."

Financial Struggles and Ownership Situation

The club's controversial proprietor the current owner indicated in the summer he would be prepared to relinquish control at the stadium, but he has been unable to finalize an agreement with prospective buyers.

Failure to pay player wages on time in spring months caused limitations by the football authorities in summer, blocking the team from conducting any transfers or loans for the next three transfer windows, although the ban was rescinded in the end of the transfer window.

Authority's Position

The chairman stated: "The position was created for the Owls followers, Bury or any football club where fans are dedicated to a local institution that has represented their community in multiple situations.

"I fully appreciate the team's plight, as I do for all the clubs that in modern times have encountered failure, or been close to going to the wall, for reasons that have nothing to do with the supporters."

Inquired if the regulator could force an owner to sell a club if they are deemed unsuitable, the chairman responded: "Should the inquiry concern 'would we intervene in the final instance?', the response would be once we assemble the facts and understand the situation, we will."

But the chairman emphasized that compelling proprietors to divest clubs would be treated as a "last resort" and the oversight body would choose to collaborate with owners.

"Our least desirable course of action is start getting involved with an particular organization, an individual owner, without being in a position to cooperate with that owner to try and resolve the challenges confronting the team and the chairman's encountering," the chairman stated.

"However, realistically, when you review the record of the game, over the recent generations there have been certain proprietors, not many, but some who have been irresponsible in the manner they have operated their organizations and finally don't wish to take responsibility for the future."

'If we get it wrong, extraordinary progress vanishes'

The regulator engaged representatives from 110 clubs to explain the responsibilities of the regulator on Wednesday and insisted it was a "progressive gathering" with a "significant participation" from the lower divisions to the top flight.

"The role holds considerable importance, because should mistakes occur, if the sport makes errors, the extraordinary progress that's been made necessary will vanish incredibly quickly," the chairman stated.

"And that's what nobody wants in the realm of domestic football is a substantial accomplishment - we must maintain momentum.

"There's an enormous amount of money entering the sport and has come into football for the last 20 or 25 years, because there are no assurances it will persist in entering the game, which is one of the reasons why I think we have to maintain a focused outlook on challenges and obviously, of the coming seasons."

Premier League Concerns

The Premier League opposed the creation of a regulator because of apprehensions regarding adverse consequences on the top-flight's competitiveness, but the chairman responded: "I fully support the prosperity and expansion as an economic entity of the elite league.

"Being fully aware of the apprehension regarding damaging the Premier League as a premium product of this country. But at the same time, if you talk to the Premier League after today's meeting, they would have had a significant degree of comfort -and, indeed, they have been telling us in private they have a high level of reassurance."

Political Connections

Kogan is still facing a "full inquiry" by the public appointments commissioner after he revealed he contributed money to the opposition group in 2020.

The official contributed funds to Secretary of State for Culture, Media and Sport Lisa Nandy's leadership campaign, along with that of the now Prime Minister Sir Keir Starmer.

"I have been entirely transparent regarding my previous political affiliation [with Labour], and that party membership ceased the day the select committee approved my appointment," the regulator explained.

"I am no longer involved in any sort of politics."