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Sheffield Wednesday's current difficulties constitute a "serious issue" and the football regulator is looking to gain the ability to look into club affairs in such situations, the newly appointed chairman the regulator has stated.

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

The regulator engaged with four supporters' associations representing the football team recently.

The Championship side have been struggling on and off the field in the current year, with the club missing wage payments on five separate occasions, including in last month.

"Obviously the club has become a serious issue for football authorities and a substantial concern for English football," the chairman stated.

"The club represents one of the iconic names for football in England and recently we have met supporters' organizations.

"We are seeking authority... which will enable us to take the club and similar situations referred to us if they warrant scrutiny and addressed."

Financial Struggles and Ownership Situation

The club's controversial proprietor Dejphon Chansiri stated during the off-season he would be open to selling the club at the stadium, but he has failed to complete a sale with prospective buyers.

Missed wage deadlines on time in spring months resulted in restrictions being imposed by the league officials in mid-year, preventing the club from carrying out any transfers or loans for the next three transfer windows, although those limitations were removed in August.

Official's Viewpoint

The chairman stated: "The job [of the regulator] is there for the supporters of Wednesday, teams facing challenges where people are committed to a regional establishment that has been part of their lives in multiple situations.

"I completely understand the club's situation, as I do for every team that over recent decades have faced collapse, or approached financial ruin, for causes separate from the followers."

Inquired if the oversight body could require an chairman to relinquish 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 regulator would prefer to cooperate with proprietors.

"Our least desirable course of action is commence engagement with an individual club, an particular chairman, without having the opportunity to collaborate with that proprietor to address the issues that the club's facing and the proprietor's dealing with," the chairman stated.

"But the truth is, when you examine the past of football, over the recent generations there have been some owners, not many, but certain individuals who have acted carelessly in the way which they've been managing their clubs and ultimately refuse to accept accountability for the future."

'Errors may undo substantial development'

Kogan met with officials from numerous teams to explain the responsibilities of the authority recently and stated it constituted a "proactive meeting" with a "substantial involvement" from the lower divisions to the top flight.

"It's a job that's actually really important, because if errors are made, if the football community fails, the significant advances achieved could disappear incredibly quickly," the chairman stated.

"This represents everyone's worst fear in the terms of English football is a substantial accomplishment - we've got to keep it going.

"There's an enormous amount of money entering the sport and has been channeled for the past two decades, because there are no assurances it will continue to come into football, which is one of the reasons why I think we have to adopt a precise perspective on challenges and obviously, of the next two or three years."

Elite Division Worries

Elite division representatives objected to the creation of a regulator because of fears of a negative impact on the top-flight's competitiveness, but Kogan said: "I fully support the prosperity and expansion as an economic entity of the Premier League.

"I of all people understand the worry about compromising the division as a high-quality offering of this country. But concurrently, if you engage with division representatives after this week's discussion, they would have had a significant degree of comfort -and, indeed, they have been telling us in private they have a significant confidence."

Partisan Associations

Kogan is still facing a "full inquiry" by the Commissioner for Public Appointments after he acknowledged providing funds to the Labour Party in recent years.

The official donated money to Culture Secretary the politician's campaign, along with that of the government leader.

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

"I am presently disconnected from any type of partisan engagement."