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Sheffield Wednesday's ongoing struggles are seen as a "significant problem" and the football regulator is looking to gain the ability to investigate clubs in similar circumstances, the newly appointed chairman the official has stated.

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

The chairman convened with four supporters' associations representing the South Yorkshire club in recent days.

The team have been experiencing difficulties in multiple areas in the current year, with the club delaying salary disbursements on five separate occasions, including in September.

"Obviously the club has become a significant problem for EFL and a significant problem for football," the chairman stated.

"The club represents one of the historic institutions for the English game and this week we have met Sheffield Wednesday supporters' groups.

"We're now looking to get powers... which will enable us to take Wednesday and comparable cases submitted for our review if they require examination and acted upon."

Financial Struggles and Proprietorship Status

Wednesday's embattled owner the Thai businessman indicated in the summer he would be open to selling the club at their home ground, but he has been unable to finalize an agreement with prospective buyers.

Failure to pay player wages on time in March and May resulted in restrictions being imposed by the league officials in summer, blocking the team from conducting any recruitment activities for the subsequent signing windows, although those limitations were removed in August.

Regulator's Perspective

The regulator explained: "The job [of the regulator] is there for the supporters of Wednesday, Bury or any football club where supporters are loyal to a regional establishment that has been part of their lives in multiple situations.

"I have absolute sympathy for the team's plight, as I do for every team that over recent decades have faced collapse, or nearly ceased operations, for factors unrelated to the supporters."

Questioned about whether the regulator could force an proprietor to divest a club if they are judged inappropriate, the chairman responded: "Should the inquiry concern 'would we intervene in the final instance?', the reply is once we assemble the facts and comprehend the circumstances, we will."

But the regulator clarified that compelling proprietors to divest clubs would be considered the final option and the oversight body would choose to cooperate with proprietors.

"Our least desirable course of action is begin intervening in an specific team, an specific proprietor, without having the opportunity to collaborate with that proprietor to address the problems affecting the organization and the chairman's encountering," the regulator explained.

"But the truth is, when you look back over the history 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 way which they've been managing their clubs and ultimately refuse to accept accountability for the long-term prospects."

'Errors may undo substantial development'

Kogan met with officials from numerous teams to detail the scope of the oversight body this week and stated it constituted a "proactive meeting" with a "significant participation" from the lower divisions to the top flight.

"The role holds considerable importance, because should mistakes occur, if the football community fails, the remarkable development accomplished could disappear rapidly," the regulator warned.

"This represents everyone's worst fear in the realm of domestic football is a major achievement - we've got to keep it going.

"Considerable investment entering the sport and has been invested for the past two decades, because certainty is lacking it will continue to come into football, which is one of the reasons why I think we have to maintain a focused outlook on challenges and obviously, of the next two or three years."

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 the chairman responded: "I fully support the achievement and development as an financial organization of the Premier League.

"Being fully aware of the concern of undermining the top flight as an elite competition of England. But concurrently, if you engage with division representatives after this week's discussion, they would have had a substantial amount of confidence -and, in fact, they have been informing us confidentially they have a significant confidence."

Partisan Associations

The chairman continues to confront a "comprehensive investigation" by the Commissioner for Public Appointments after he revealed he contributed money to the opposition group in recent years.

The official contributed funds to Culture Secretary the minister's leadership bid, along with that of the now Prime Minister Sir Keir Starmer.

"I've been completely open about my past party membership [with Labour], and that political affiliation came to an end the day the official body endorsed my nomination," the regulator explained.

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