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Sheffield Wednesday's persistent issues represent a a "serious issue" and the new football authority is looking to gain the ability to investigate clubs in similar circumstances, the newly appointed chairman the regulator has announced.

Through a comprehensive talk, the chairman, who was appointed on Monday, expressed "sympathy" towards the club's followers.

The regulator engaged with four supporters' associations representing the Championship side recently.

The football club have been experiencing difficulties in multiple areas in this season, with the club failing to pay players on time on multiple instances, including in September.

"Obviously the club has become a serious issue for football authorities and a major challenge for the sport," Kogan told.

"Wednesday stands as one of the great brands for the English game and this week we have met fan representatives.

"We are seeking authority... which will enable us to take Sheffield Wednesday - and other clubs referred to us if they require examination and addressed."

Financial Struggles and Leadership Concerns

The team's struggling chairman Dejphon Chansiri stated during the off-season he would be open to selling the club at Hillsborough, but he has been unable to finalize an agreement with prospective buyers.

Delayed salary payments on time in spring months led to sanctions by the English Football League (EFL) in summer, blocking the team from conducting any recruitment activities for the next three transfer windows, although that restriction was lifted in the end of the transfer window.

Authority's Position

The regulator explained: "The position was created for the Owls followers, teams facing challenges where fans are dedicated to a local institution that has existed throughout their lifetimes in multiple situations.

"I completely understand the team's plight, as I do for each organization that over recent decades have faced collapse, or nearly ceased operations, for causes separate from the supporters."

Questioned about whether the oversight body could require an chairman to relinquish a club if they are deemed unsuitable, Kogan said: "If your question is 'would we intervene in the final instance?', the answer is once we collect the information and know what's going on, we will."

But the chairman emphasized that forcing owners to sell clubs would be viewed as the ultimate measure and the regulator would prefer to cooperate with proprietors.

"The last thing what we want to do is commence engagement with an specific team, an particular chairman, without having the opportunity to collaborate with that proprietor to address the issues that the club's facing and the owner's facing," Kogan said.

"But the truth is, when you look back over the history of the game, over the past few decades there have been some owners, not many, but particular people who have shown negligence in the manner they have operated their teams and eventually decline to assume obligation for the long-term prospects."

'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 maintained it represented a "forward-thinking discussion" with a "significant participation" from the lower divisions to the top flight.

"The role holds considerable importance, because if errors are made, if the world of football gets it wrong, the significant advances achieved necessary will vanish incredibly quickly," the chairman stated.

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

"There's an enormous amount of money flowing into the game and has come into football for the recent generations, because certainty is lacking 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 immediate future."

Premier League Concerns

Elite division representatives objected to the formation of an authority because of fears of a negative impact on the elite division's competitive balance, but the chairman responded: "I'm absolutely committed to the achievement and development as an economic entity of the top division.

"I of all people understand the apprehension regarding damaging the Premier League as a premium product of this country. But simultaneously, if you engage with division representatives after today's meeting, they would have had a high level of reassurance -and, in fact, they have been advising us privately they have a high level of reassurance."

Political Connections

Kogan is still facing a "full inquiry" by the official appointments authority after he acknowledged providing funds to the opposition group in the past.

The official contributed funds to Culture Secretary Lisa Nandy's leadership campaign, along with that of the government leader.

"I have been entirely transparent regarding my previous political affiliation [with Labour], and that party membership ceased the day the parliamentary committee confirmed my selection," the chairman stated.

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