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Sheffield Wednesday's ongoing struggles constitute a "serious issue" and the independent regulator is aiming to acquire authority to investigate clubs in such situations, the recently named head David Kogan has declared.

In a wide-ranging interview, the regulator, who was recently selected, voiced concern towards supporters of the Owls.

The chairman convened with four supporter groups representing the Championship side recently.

The football club have been facing challenges both on and off the pitch in this season, with the club missing wage payments on multiple instances, including in last month.

"Evidently Wednesday represents a major concern for the league and a substantial concern for English football," the regulator explained.

"Wednesday stands as one of the iconic names for English football and in recent days we have met Sheffield Wednesday supporters' groups.

"We're now looking to get powers... which will permit us to bring the club and similar situations brought to our attention if they warrant scrutiny and addressed."

Economic Challenges and Proprietorship Status

Wednesday's embattled owner the Thai businessman stated during the off-season he would be prepared to relinquish control at the stadium, but he has not been able to secure a deal with potential new owners.

Failure to pay player wages on time in earlier this year resulted in restrictions being imposed by the league officials in June, blocking the team from conducting any transfers or loans for the following recruitment periods, although those limitations were removed in the end of the transfer window.

Authority's Position

The regulator explained: "The position was created for the supporters of Wednesday, Bury or any football club where people are committed to a community organization that has existed throughout their lifetimes in many cases.

"I fully appreciate the club's situation, as I do for each organization that over recent decades have faced collapse, or been close to going to the wall, for factors unrelated to the followers."

Inquired if the authority might compel an proprietor to divest a club if they are considered unfit, Kogan said: "Should the inquiry concern 'would we intervene in the final instance?', the response would be once we assemble the facts and know what's going on, we will."

But Kogan stressed that compelling proprietors to divest clubs would be considered the final option and the oversight body would choose to collaborate with owners.

"The final option we would consider is commence engagement with an individual club, an specific proprietor, without being in a position to cooperate with that proprietor to address the problems affecting the organization and the proprietor's dealing with," the chairman stated.

"However, realistically, when you examine the past of the sport, over the last 20 or 30 years there have been some owners, not many, but some who have been irresponsible in the way which they've been managing their organizations and finally don't wish to take responsibility for the future."

'Mistakes could erase significant advances'

The regulator engaged delegates from multiple organizations to detail the scope of the authority recently and stated it constituted a "proactive meeting" with a "substantial involvement" from the National League to the Premier League.

"This position carries substantial significance, because if we get it wrong, if the football community fails, the significant advances achieved could disappear rapidly," the chairman stated.

"This represents everyone's worst fear in the context of the English game is a substantial accomplishment - we need to continue the progress.

"Considerable investment entering the sport and has been invested for the last 20 or 25 years, because certainty is lacking it will continue to come into football, which is among the factors explaining I think we have to adopt a precise perspective on challenges and obviously, of the immediate future."

Premier League Concerns

The Premier League opposed the formation of an authority because of concerns about detrimental effects on the Premier League's sporting equality, but the chairman responded: "I fully support the success and growth as an commercial operation of the elite league.

"I of all people understand the apprehension regarding damaging the Premier League as a premium product of this country. But at the same time, if you talk to the Premier League after the recent gathering, they would have had a significant degree of comfort -and, indeed, they have been advising us privately they have a considerable comfort."

Partisan Associations

Kogan is still facing a "thorough examination" by the Commissioner for Public Appointments after he revealed he contributed money to the political party in 2020.

The official provided financial support for Secretary of State for Culture, Media and Sport the minister's leadership bid, along with that of the current Prime Minister.

"I've been completely open about my past party membership [with Labour], and that ideological connection terminated the day the parliamentary committee confirmed my selection," Kogan said.

"I am presently disconnected from any form of political activity."