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Sheffield Wednesday's current difficulties constitute a "major concern" and the new football authority is aiming to acquire authority to examine team situations in such situations, its new chair David Kogan has declared.

Through a comprehensive talk, the chairman, who was appointed on Monday, voiced concern towards Wednesday's fanbase.

Kogan met with four supporter groups representing the Championship side in recent days.

The team have been struggling on and off the field in this season, with the club missing wage payments on several different times, including in last month.

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

"Wednesday stands as one of the historic institutions for football in England and this week we have met fan representatives.

"We're now looking to get powers... which will allow us to have Sheffield Wednesday - and other clubs referred to us if they need to be investigated and addressed."

Financial Struggles and Leadership Concerns

The club's controversial proprietor the current owner stated during the off-season he would be open to selling the club at Hillsborough, but he has failed to complete a sale with prospective buyers.

Delayed salary payments on time in earlier this year led to sanctions by the football authorities in mid-year, blocking the team from conducting any transfers or loans for the following recruitment periods, 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, teams facing challenges where fans are dedicated to a community organization that has existed throughout their lifetimes in many cases.

"I completely understand Sheffield Wednesday, 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."

Inquired if the regulator could force an owner to sell a club if they are deemed unsuitable, the regulator answered: "Should the inquiry concern 'would we intervene in the final instance?', the reply is once we gather the evidence and know what's going on, we will."

But the chairman emphasized that compelling proprietors to divest clubs would be considered the final option and the oversight body would choose to work with them.

"The final option we would consider is begin intervening in an individual club, an specific proprietor, without being in a position to cooperate with that owner to try and resolve the challenges confronting the team and the proprietor's dealing with," Kogan said.

"But the truth is, when you review the record of the game, over the past few decades there have been some owners, few in number, but certain individuals who have acted carelessly in the approach they have taken toward their teams and eventually refuse to accept accountability for the coming years."

'Errors may undo substantial development'

The chairman convened with delegates from multiple organizations to detail the scope of the oversight body this week and maintained it represented a "proactive meeting" with a "substantial involvement" from the lower divisions to the top flight.

"The role holds considerable importance, because should mistakes occur, if the sport makes errors, the extraordinary progress that's been made might evaporate rapidly," the chairman stated.

"This represents everyone's worst fear in the context of the English game is a substantial accomplishment - we must maintain momentum.

"Considerable investment entering the sport and has been channeled for the last 20 or 25 years, because there's no guarantee it will keep flowing into the sport, which is one of the reasons why I think we have to take a really clear view on risk and of course, of the coming seasons."

Premier League Concerns

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'm absolutely committed to the success and growth as an financial organization of the elite league.

"Being fully aware of the worry about compromising the top flight as an elite competition of this country. But at the same time, if you consult with top flight officials after today's meeting, they would have had a high level of reassurance -and, in fact, they have been advising us privately they have a high level of reassurance."

Partisan Associations

The chairman continues to confront a "thorough examination" by the Commissioner for Public Appointments after he acknowledged providing funds to the opposition group in the past.

The chairman donated money to government minister the minister's leadership bid, along with that of the current Prime Minister.

"I have fully disclosed my previous political affiliation [with Labour], and that ideological connection terminated the day the official body endorsed my nomination," Kogan said.

"I am presently disconnected from any type of partisan engagement."