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The Championship club's ongoing struggles represent a a "major concern" and the new football authority is seeking powers to examine team situations in similar circumstances, its new chair the regulator has declared.

During an extensive discussion, the regulator, who was named to the position this week, voiced concern towards the club's followers.

The regulator engaged with four supporter groups associated with the Championship side this week.

The Championship side have been facing challenges both on and off the pitch in the current year, with the club delaying salary disbursements on several different times, including in September.

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

"Wednesday stands as one of the great brands for football in England and recently we have met fan representatives.

"We are seeking authority... which will allow us to have the club and similar situations brought to our attention if they warrant scrutiny and addressed."

Financial Struggles and Ownership Situation

Wednesday's embattled owner the Thai businessman 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.

Missed wage deadlines on time in spring months led to sanctions by the league officials in summer, stopping Wednesday from completing any transfers or loans for the next three transfer windows, although the ban was rescinded in late summer.

Official's Viewpoint

The chairman stated: "Our role exists to serve the supporters of Wednesday, teams facing challenges where people are committed to a regional establishment that has been part of their lives in many cases.

"I completely understand the club's situation, as I do for all the clubs that since 1992 have gone to the wall, or nearly ceased operations, for causes separate from the supporters."

When asked if the regulator could force an proprietor to divest a club if they are considered unfit, the regulator answered: "If your question is 'would we intervene in the final instance?', the response would be once we collect the information and understand the situation, we will."

But Kogan stressed that compelling proprietors to divest clubs would be viewed as the ultimate measure and the regulator would prefer to work with them.

"The last thing what we want to do is start getting involved with an individual club, an specific proprietor, without being in a position to cooperate with that owner to try and resolve the problems affecting the organization and the chairman's encountering," the regulator explained.

"In actuality, when you review the record of the game, over the recent generations there have been certain proprietors, a small minority, but particular people who have shown negligence in the approach they have taken toward their teams and eventually refuse to accept accountability for the future."

'Errors may undo substantial development'

The chairman convened with delegates from multiple organizations to lay out the remit of the regulator on Wednesday and stated it constituted a "proactive meeting" with a "substantial involvement" from the grassroots to elite level.

"This position carries substantial significance, because if we get it wrong, if the football community fails, the significant advances achieved necessary will vanish swiftly," Kogan said.

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

"There's an enormous amount of money entering the sport and has been channeled for the past two decades, because there's no guarantee it will keep flowing into the sport, which is one of the reasons why I think we have to maintain a focused outlook on challenges and obviously, of the next two or three years."

Top Flight Apprehensions

The Premier League opposed the formation of an authority because of concerns about detrimental effects on the top-flight's competitiveness, but the chairman responded: "I completely endorse the prosperity and expansion as an commercial operation of the Premier League.

"As someone who appreciates the worry about compromising 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, in fact, they have been informing us confidentially they have a high level of reassurance."

Political Connections

The chairman continues to confront a "thorough examination" by the official appointments authority after he disclosed making donations to the opposition group in recent years.

The official donated money to government minister 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 ideological connection terminated the day the parliamentary committee confirmed my selection," Kogan said.

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