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Sheffield Wednesday's current difficulties represent a a "significant problem" and the football regulator is seeking powers to examine team situations in similar circumstances, the recently named head the official has announced.

Through a comprehensive talk, the regulator, who was named to the position this week, showed understanding towards supporters of the Owls.

The chairman convened with four supporter groups associated with the South Yorkshire club in recent days.

The Championship side have been facing challenges both on and off the pitch in this season, with the club delaying salary disbursements on several different times, including in last month.

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

"Sheffield Wednesday is one of the historic institutions for the English game and this week we have met fan representatives.

"We are seeking authority... which will permit us to bring the club and similar situations referred to us if they warrant scrutiny and dealt with."

Financial Struggles and Ownership Situation

The club's controversial proprietor the Thai businessman suggested earlier this year he would be open to selling the club at their home ground, 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 league officials in June, blocking the team from conducting any player acquisitions for the next three transfer windows, although the ban was rescinded in August.

Official's Viewpoint

The regulator explained: "The job [of the regulator] is there for the fans of Sheffield Wednesday, other clubs in similar situations where supporters are loyal to a regional establishment that has existed throughout their lifetimes in numerous instances.

"I have absolute sympathy for the team's plight, as I do for every team that in modern times have encountered failure, or approached financial ruin, for factors unrelated to the supporters."

Inquired if the regulator could force an proprietor to divest a club if they are judged inappropriate, the regulator answered: "If your question is 'would we intervene in the final instance?', the answer is once we assemble the facts 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 cooperate with proprietors.

"The last thing what we want to do is begin intervening in an particular organization, an specific proprietor, without being in a position to cooperate with that proprietor to address the challenges confronting the team and the chairman's encountering," the regulator explained.

"However, realistically, when you review the record of football, over the recent generations there have been some owners, few in number, but particular people who have shown negligence in the manner they have operated their teams and eventually don't wish to take responsibility for the future."

'Errors may undo substantial development'

The regulator engaged delegates from multiple organizations to detail the scope of the regulator on Wednesday and insisted it was a "forward-thinking discussion" with a "substantial involvement" from the lower divisions to the top flight.

"The role holds considerable importance, because if errors are made, if the sport makes errors, the remarkable development accomplished might evaporate swiftly," the chairman stated.

"Such an outcome is universally undesirable in the realm of domestic football is a major achievement - we must maintain momentum.

"There's an enormous amount of money flowing into the game and has been channeled for the recent generations, because certainty is lacking it will keep flowing into the sport, which is among the factors explaining I think we have to adopt a precise perspective on risk and of course, of the next two or three years."

Elite Division Worries

The Premier League opposed the creation of a regulator because of fears of a negative impact on the elite division's competitive balance, but the regulator stated: "I completely endorse the success and growth as an financial organization of the top division.

"I of all people understand the concern of undermining the division as a high-quality offering of England. But simultaneously, if you engage with division representatives after this week's discussion, they would have had a substantial amount of confidence -and, indeed, they have been informing us confidentially they have a significant confidence."

Partisan Associations

The regulator remains subject to a "full inquiry" by the public appointments commissioner after he disclosed making donations to the Labour Party in the past.

The chairman provided financial support for Culture Secretary the minister's leadership bid, along with that of the government leader.

"I've been completely open about my former ideological connection [with Labour], and that political affiliation came to an end the day the select committee approved my appointment," Kogan said.

"I am no longer involved in any type of partisan engagement."