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Sheffield Wednesday's current difficulties are seen as a "major concern" and the independent regulator is aiming to acquire authority to examine team situations in similar circumstances, the recently named head the regulator has stated.

Through a comprehensive talk, the regulator, who was appointed on Monday, voiced concern towards supporters of the Owls.

The regulator engaged with four fan organizations connected to the football team recently.

The team have been experiencing difficulties in multiple areas in the current year, with the club failing to pay players on time on five separate occasions, including in September.

"Evidently Wednesday represents a serious issue for football authorities and a major challenge for the sport," the chairman stated.

"The club represents one of the great brands for the English game and recently we have met Sheffield Wednesday supporters' groups.

"We're now looking to get powers... which will enable us to take Sheffield Wednesday - and other clubs referred to us if they warrant scrutiny and acted upon."

Financial Struggles and Leadership Concerns

The team's struggling chairman the Thai businessman suggested earlier this year he would be open to selling the club at the stadium, but he has been unable to finalize an agreement with prospective buyers.

Missed wage deadlines on time in spring months led to sanctions by the football authorities in mid-year, preventing the club from carrying out any transfers or loans for the next three transfer windows, although that restriction was lifted in the end of the transfer window.

Official's Viewpoint

Kogan said: "The position was created for the Owls followers, Bury or any football club where supporters are loyal to a community organization that has been part of their lives in multiple situations.

"I have absolute sympathy for the club's situation, as I do for every team that since 1992 have gone to the wall, or nearly ceased operations, for causes separate from the supporters."

Inquired if the regulator could force an proprietor to divest a club if they are deemed unsuitable, Kogan said: "When asking whether 'would we intervene in the final instance?', the response would be once we collect the information and know what's going on, we will."

But the regulator clarified that forcing owners to sell clubs would be treated as a "last resort" and the authority would rather to work with them.

"The final option we would consider is commence engagement with an specific team, an particular chairman, without being able to work with that chairman to fix the issues that the club's facing and the owner's facing," the regulator explained.

"However, realistically, when you review the record of football, over the recent generations there have been certain proprietors, few in number, but certain individuals who have acted carelessly in the way which they've been managing their teams and eventually don't wish to take responsibility for the coming years."

'Mistakes could erase significant advances'

Kogan met with officials from numerous teams to detail the scope of the regulator on Wednesday and maintained it represented a "forward-thinking discussion" with a "high level of engagement" from the lower divisions to the top flight.

"It's a job that's actually really important, because if we get it wrong, if the football community fails, the extraordinary progress that's been made might evaporate rapidly," Kogan said.

"And that's what nobody wants in the realm of domestic football is a substantial accomplishment - we've got to keep it going.

"There's an enormous amount of money flowing into the game and has come into football for the last 20 or 25 years, because there are no assurances it will keep flowing into the sport, which is one of the reasons why I think we have to take a really clear view on potential dangers and naturally, of the coming seasons."

Premier League Concerns

Elite division representatives objected to the creation of a regulator because of concerns about detrimental effects on the top-flight's competitiveness, but Kogan said: "I fully support the prosperity and expansion as an commercial operation of the elite league.

"As someone who appreciates the worry about compromising the top flight as an elite competition of England. But simultaneously, if you consult with top flight officials after the recent gathering, they would have had a substantial amount of confidence -and, indeed, they have been advising us privately they have a significant confidence."

Partisan Associations

Kogan is still facing a "thorough examination" by the Commissioner for Public Appointments after he disclosed making donations to the political party in 2020.

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

"I have fully disclosed my past party membership [with Labour], and that political affiliation came to an end the day the official body endorsed my nomination," the regulator explained.

"I currently have no participation in any sort of politics."