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Sheffield Wednesday's persistent issues are seen as a "significant problem" and the new football authority is looking to gain the ability to examine team situations in similar circumstances, the newly appointed chairman David Kogan has stated.

Through a comprehensive talk, the chairman, who was recently selected, showed understanding towards the club's followers.

Kogan met with four supporter groups associated with the football team in recent days.

The team have been facing challenges both on and off the pitch in the current year, with the club failing to pay players on time on several different times, including in the autumn.

"Obviously the club has become a significant problem for EFL and a significant problem for football," Kogan told.

"Sheffield Wednesday is one of the great brands for the English game and in recent days we have met fan representatives.

"Our aim is to acquire the ability... which will permit us to bring Wednesday and comparable cases referred to us if they require examination and dealt with."

Financial Struggles and Ownership Situation

The team's struggling chairman the Thai businessman indicated in the summer he would be willing to sell up at their home ground, but he has not been able to secure a deal with prospective buyers.

Failure to pay player wages on time in spring months caused limitations by the football authorities in mid-year, preventing the club from carrying out any recruitment activities for the subsequent signing windows, although those limitations were removed in August.

Regulator's Perspective

The regulator explained: "The position was created for the Owls followers, other clubs in similar situations where supporters are loyal to a local institution that has represented their community in many cases.

"I completely understand the club's situation, as I do for each organization that in modern times have encountered failure, or nearly ceased operations, for causes separate from the supporters."

Questioned about whether the regulator could force an proprietor to divest a club if they are judged inappropriate, Kogan said: "If your question is 'would we intervene in the final instance?', the reply is once we collect the information and comprehend the circumstances, we will."

But Kogan stressed that requiring chairmen to relinquish clubs would be considered the final option and the regulator would prefer to collaborate with owners.

"The last thing what we want to do is commence engagement with an specific team, an individual owner, without being able to work with that proprietor to address the problems affecting the organization and the chairman's encountering," Kogan said.

"But the truth is, when you review the record of the game, over the past few decades there have been particular chairmen, not many, but certain individuals who have acted carelessly in the manner they have operated their teams and eventually refuse to accept accountability for the future."

'Errors may undo substantial development'

The chairman convened with representatives from 110 clubs to detail the scope of the regulator on Wednesday and maintained it represented a "forward-thinking discussion" with a "substantial involvement" from the grassroots to elite level.

"This position carries substantial significance, because if we get it wrong, if the football community fails, the significant advances achieved necessary will vanish rapidly," Kogan said.

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

"Substantial financial resources coming into football and has been channeled for the recent generations, because there's no guarantee it will keep flowing into the sport, which is one of the reasons why I think we have to adopt a precise perspective on potential dangers and naturally, of the immediate future."

Top Flight Apprehensions

Elite division representatives objected to the establishment of an oversight body because of fears of a negative impact on the top-flight's competitiveness, but the regulator stated: "I fully support the prosperity and expansion as an financial organization of the Premier League.

"Being fully aware of the apprehension regarding damaging the top flight as an elite competition 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, actually, they have been telling us in private they have a significant confidence."

Political Connections

Kogan is still facing a "full inquiry" by the Commissioner for Public Appointments after he revealed he contributed money to the Labour Party in the past.

The chairman provided financial support for Culture Secretary the politician's campaign, along with that of the government leader.

"I've been completely open about my past party membership [with Labour], and that party membership ceased the day the parliamentary committee confirmed my selection," the regulator explained.

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