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The Championship club's persistent issues are seen as a "significant problem" and the football regulator is looking to gain the ability to look into club affairs in similar circumstances, its new chair the regulator has declared.

Through a comprehensive talk, the regulator, who was appointed on Monday, voiced concern towards the club's followers.

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

The team have been facing challenges both on and off the pitch in the current year, with the club missing wage payments on five separate occasions, including in September.

"Clearly Sheffield Wednesday has been a significant problem for EFL and a significant problem for football," the chairman stated.

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

"We are seeking authority... which will permit us to bring Wednesday and comparable cases submitted for our review if they warrant scrutiny and addressed."

Monetary Issues and Proprietorship Status

The club's controversial proprietor the Thai businessman stated during the off-season he would be open to selling the club at the stadium, but he has not been able to secure a deal with potential new owners.

Delayed salary payments on time in earlier this year led to sanctions by the league officials in mid-year, preventing the club from carrying out any recruitment activities for the following recruitment periods, although the ban was rescinded in late summer.

Regulator's Perspective

The chairman stated: "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 multiple situations.

"I completely understand the team's plight, as I do for each organization that in modern times have encountered failure, or approached financial ruin, for reasons that have nothing to do with the followers."

Questioned about whether the authority might compel an owner to sell a club if they are deemed unsuitable, Kogan said: "When asking whether 'would we intervene in the final instance?', the response would be once we gather the evidence and understand the situation, we will."

But Kogan stressed that forcing owners to sell clubs would be treated as a "last resort" and the authority would rather to cooperate with proprietors.

"Our least desirable course of action is begin intervening in an specific team, an specific proprietor, without being in a position to cooperate with that chairman to fix the issues that the club's facing and the chairman's encountering," the chairman stated.

"But the truth is, when you look back over the history of football, over the recent generations there have been particular chairmen, not many, but particular people who have shown negligence in the manner they have operated their organizations and finally refuse to accept accountability for the future."

'If we get it wrong, extraordinary progress vanishes'

The regulator engaged officials from numerous teams to explain the responsibilities of the authority recently and stated it constituted a "progressive gathering" with a "high level of engagement" from the grassroots to elite level.

"It's a job that's actually really important, because if we get it wrong, if the world of football gets it wrong, the significant advances achieved could disappear swiftly," the regulator warned.

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

"Considerable investment coming into football and has been channeled for the last 20 or 25 years, because there's no guarantee it will persist in entering the game, which is among the factors explaining I think we have to adopt a precise perspective on challenges and obviously, of the immediate future."

Top Flight Apprehensions

The Premier League opposed the creation of a regulator because of concerns about detrimental effects on the Premier League's sporting equality, but Kogan said: "I'm absolutely committed to the success and growth as an commercial operation of the Premier League.

"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 high level of reassurance -and, in fact, they have been informing us confidentially they have a significant confidence."

Partisan Associations

The regulator remains subject to a "full inquiry" by the Commissioner for Public Appointments after he disclosed making donations to the political party in the past.

The 68-year-old provided financial support for government minister the politician's campaign, along with that of the current Prime Minister.

"I've been completely open about my former ideological connection [with Labour], and that party membership ceased the day the official body endorsed my nomination," the regulator explained.

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