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Sheffield Wednesday's current difficulties constitute a "major concern" and the football regulator is seeking powers to investigate clubs in comparable cases, its new chair David Kogan has stated.

In a wide-ranging interview, the chairman, who was recently selected, showed understanding towards the club's followers.

Kogan met with four supporter groups associated with the South Yorkshire club recently.

The Championship side have been experiencing difficulties in multiple areas in this season, with the club missing wage payments on multiple instances, including in the autumn.

"Evidently Wednesday represents a significant problem for EFL and a substantial concern for English football," the regulator explained.

"Sheffield Wednesday is one of the great brands for the English game and this week we have met Sheffield Wednesday supporters' groups.

"Our aim is to acquire the ability... which will allow us to have the club and similar situations submitted for our review if they warrant scrutiny and acted upon."

Economic Challenges and Proprietorship Status

The team's struggling chairman Dejphon Chansiri stated during the off-season he would be open to selling the club at their home ground, but he has not been able to secure a deal with interested parties.

Missed wage deadlines on time in March and May caused limitations by the English Football League (EFL) in mid-year, blocking the team from conducting any player acquisitions for the subsequent signing windows, although the ban was rescinded in the end of the transfer window.

Official's Viewpoint

The regulator explained: "The position was created for the fans of Sheffield Wednesday, other clubs in similar situations where supporters are loyal to a local institution that has represented their community in multiple situations.

"I have absolute sympathy for Sheffield Wednesday, as I do for all the clubs that since 1992 have gone to the wall, or approached financial ruin, for reasons that have nothing to do with the supporters."

Inquired if the regulator could force an chairman to relinquish a club if they are deemed unsuitable, the regulator answered: "When asking whether '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 compelling proprietors to divest clubs would be considered the final option and the authority would rather to work with them.

"Our least desirable course of action is commence engagement with an specific team, an particular chairman, without being able to work with that proprietor to address the challenges confronting the team and the owner's facing," Kogan said.

"However, realistically, when you review the record of the sport, over the recent generations there have been some owners, not many, but some who have been irresponsible in the approach they have taken toward their organizations and finally refuse to accept accountability for the coming years."

'If we get it wrong, extraordinary progress vanishes'

The chairman convened with delegates from multiple organizations to detail the scope of the oversight body this week and maintained it represented a "progressive gathering" with a "significant participation" from the grassroots to elite level.

"It's a job that's actually really important, because should mistakes occur, if the football community fails, the remarkable development accomplished could disappear swiftly," Kogan said.

"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 channeled for the past two decades, because there's no guarantee it will keep flowing into the sport, which is one of the reasons why I think we have to maintain a focused outlook on risk and of course, of the immediate future."

Top Flight Apprehensions

The Premier League opposed the formation of an authority because of fears of a negative impact on the top-flight's competitiveness, but Kogan said: "I completely endorse the prosperity and expansion as an financial organization of the elite league.

"I of all people understand the apprehension regarding damaging the Premier League as a premium product of this country. But simultaneously, if you consult with top flight officials after this week's discussion, they would have had a high level of reassurance -and, indeed, 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 2020.

The chairman contributed funds to Secretary of State for Culture, Media and Sport Lisa Nandy's leadership campaign, along with that of the current Prime Minister.

"I've been completely open about my former ideological connection [with Labour], and that political affiliation came to an end the day the official body endorsed my nomination," the chairman stated.

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