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The Championship club's current difficulties are seen as a "serious issue" and the new football authority is looking to gain the ability to investigate clubs in such situations, its new chair the official has announced.

In a wide-ranging interview, the chairman, who was recently selected, showed understanding towards Wednesday's fanbase.

The regulator engaged with four supporters' associations representing the South Yorkshire club in recent days.

The Championship side have been experiencing difficulties in multiple areas in the current year, with the club delaying salary disbursements on five separate occasions, including in last month.

"Obviously the club has become a serious issue for football authorities and a significant problem for football," Kogan told.

"The club represents one of the great brands for football in England and this week we have met supporters' organizations.

"We're now looking to get powers... which will allow us to have Wednesday and comparable cases submitted for our review if they require examination and dealt with."

Economic Challenges and Proprietorship Status

The club's controversial proprietor Dejphon Chansiri suggested earlier this year he would be willing to sell up at the stadium, but he has not been able to secure a deal with prospective buyers.

Failure to pay player wages on time in spring months caused limitations by the league officials in June, stopping Wednesday from completing any player acquisitions for the next three transfer windows, although those limitations were removed in August.

Authority's Position

The regulator explained: "The position was created for the supporters of Wednesday, Bury or any football club where supporters are loyal to a local institution that has existed throughout their lifetimes in numerous instances.

"I completely understand Sheffield Wednesday, as I do for each organization that in modern times have encountered failure, or nearly ceased operations, for causes separate from the fans themselves."

Questioned about whether the authority might compel an chairman to relinquish a club if they are considered unfit, the chairman responded: "Should the inquiry concern 'would we intervene in the final instance?', the response would be once we collect the information and understand the situation, we will."

But the chairman emphasized that requiring chairmen to relinquish clubs would be treated as a "last resort" and the authority would rather to cooperate with proprietors.

"The final option we would consider is start getting involved with an particular organization, an particular chairman, without being able to work with that owner to try and resolve the problems affecting the organization and the proprietor's dealing with," Kogan said.

"However, realistically, when you review the record of football, over the past few decades there have been some owners, a small minority, but particular people who have shown negligence in the manner they have operated their clubs and ultimately don't wish to take responsibility for the coming years."

'Errors may undo substantial development'

The chairman convened with representatives from 110 clubs to explain the responsibilities of the regulator on Wednesday and stated it constituted a "progressive gathering" with a "high level of engagement" from the National League to the Premier League.

"The role holds considerable importance, because if we get it wrong, if the world of football gets it wrong, the remarkable development accomplished could disappear rapidly," Kogan said.

"Such an outcome is universally undesirable in the context of the English game is a major achievement - we've got to keep it going.

"There's an enormous amount of money entering the sport and has been invested for the last 20 or 25 years, because there's no guarantee it will continue to come into football, which is one of the reasons why I think we have to adopt a precise perspective on risk and of course, of the next two or three years."

Top Flight Apprehensions

Elite division representatives objected to the creation of a regulator because of concerns about detrimental effects on the elite division's competitive balance, but the regulator stated: "I fully support the success and growth as an financial organization of the elite league.

"As someone who appreciates the worry about compromising the top flight as an elite competition of the nation. But simultaneously, if you consult with top flight officials after today's meeting, they would have had a high level of reassurance -and, in fact, they have been telling us in private they have a considerable comfort."

Ideological Links

The chairman continues to confront a "thorough examination" by the Commissioner for Public Appointments after he disclosed making donations to the opposition group in the past.

The chairman 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 ideological connection terminated the day the select committee approved my appointment," Kogan said.

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