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The team's ongoing struggles represent a a "significant problem" and the new football authority is looking to gain the ability to examine team situations in comparable cases, the newly appointed chairman the official has declared.

During an extensive discussion, the regulator, who was named to the position this week, expressed "sympathy" towards supporters of the Owls.

Kogan met with four supporters' associations associated with the Championship side this week.

The team have been experiencing difficulties in multiple areas in the current year, with the club missing wage payments on five separate occasions, including in the autumn.

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

"Wednesday stands as one of the great brands for football in England and in recent days we have met supporters' organizations.

"We are seeking authority... which will permit us to bring the club and similar situations brought to our attention if they need to be investigated and dealt with."

Economic Challenges and Ownership Situation

The team's struggling chairman the current owner indicated in the summer he would be open to selling the club at Hillsborough, but he has not been able to secure a deal with potential new owners.

Delayed salary payments on time in March and May caused limitations by the league officials in June, stopping Wednesday from completing any recruitment activities for the following recruitment periods, although that restriction was lifted in August.

Authority's Position

Kogan said: "The job [of the regulator] is there for the fans of Sheffield Wednesday, Bury or any football club where people are committed to a community organization that has existed throughout their lifetimes in many cases.

"I have absolute sympathy for the club's situation, as I do for all the clubs that in modern times have encountered failure, or been close to going to the wall, for factors unrelated to the supporters."

Questioned about whether the authority might compel an chairman to relinquish a club if they are considered unfit, Kogan said: "When asking whether 'would we intervene in the final instance?', the answer is once we gather the evidence and understand the situation, we will."

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

"Our least desirable course of action is commence engagement with an individual club, an specific proprietor, without having the opportunity to collaborate with that chairman to fix the issues that the club's facing and the owner's facing," the regulator explained.

"In actuality, when you examine the past of the sport, over the last 20 or 30 years there have been particular chairmen, not many, but particular people who have shown negligence in the approach they have taken toward their organizations and finally decline to assume obligation for the long-term prospects."

'Errors may undo substantial development'

The regulator engaged officials from numerous teams to lay out the remit of the oversight body this week and insisted it was a "forward-thinking discussion" with a "significant participation" from the lower divisions to the top flight.

"This position carries substantial significance, because if errors are made, if the world of football gets it wrong, the extraordinary progress that's been made might evaporate incredibly quickly," Kogan said.

"This represents everyone's worst fear in the terms of English football is a major achievement - we need to continue the progress.

"Considerable investment entering the sport and has been channeled for the past two decades, 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 challenges and obviously, of the immediate future."

Top Flight Apprehensions

Elite division representatives objected to the creation of a regulator because of apprehensions regarding adverse consequences on the elite division's competitive balance, but Kogan said: "I fully support the success and growth as an commercial operation of the elite league.

"Being fully aware of the apprehension regarding damaging the Premier League as a premium product of the nation. But concurrently, if you consult with top flight officials after today's meeting, they would have had a substantial amount of confidence -and, actually, they have been advising us privately they have a considerable comfort."

Ideological Links

The regulator remains subject to a "full inquiry" by the official appointments authority after he acknowledged providing funds to the opposition group in recent years.

The chairman donated money to Culture Secretary Lisa Nandy's leadership campaign, along with that of the now Prime Minister Sir Keir Starmer.

"I have fully disclosed my former ideological connection [with Labour], and that political affiliation came to an end the day the select committee approved my appointment," the regulator explained.

"I am no longer involved in any form of political activity."