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Sheffield Wednesday's current difficulties constitute a "serious issue" and the new football authority is looking to gain the ability to examine team situations in such situations, the newly appointed chairman David Kogan has stated.

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

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

The Championship side have been experiencing difficulties in multiple areas in this season, with the club failing to pay players on time on five separate occasions, including in September.

"Obviously the club has become a major concern for the league and a significant problem for football," the regulator explained.

"Wednesday stands as one of the great brands for football in England and in recent days we have met Sheffield Wednesday supporters' groups.

"We are seeking authority... which will allow us to have the club and similar situations brought to our attention if they need to be investigated and acted upon."

Financial Struggles and Leadership Concerns

Wednesday's embattled owner the current owner indicated in the summer he would be prepared to relinquish control at their home ground, but he has not been able to secure a deal with interested parties.

Failure to pay player wages on time in spring months caused limitations by the league officials in summer, preventing the club from carrying out any player acquisitions for the following recruitment periods, although those limitations were removed in late summer.

Authority's Position

The regulator explained: "The job [of the regulator] is there for the supporters of Wednesday, other clubs in similar situations where supporters are loyal to a community organization that has been part of their lives in numerous instances.

"I have absolute sympathy for the team's plight, as I do for each organization that in modern times have encountered failure, or nearly ceased operations, for factors unrelated to the supporters."

Inquired if the authority might compel an owner to sell a club if they are deemed unsuitable, Kogan said: "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 regulator clarified that compelling proprietors to divest clubs would be viewed as the ultimate measure and the authority would rather to cooperate with proprietors.

"Our least desirable course of action is start getting involved with an specific team, an particular chairman, without having the opportunity to collaborate with that chairman to fix the challenges confronting the team and the chairman's encountering," Kogan said.

"In actuality, when you examine the past of the sport, over the last 20 or 30 years there have been certain proprietors, a small minority, but particular people who have shown negligence in the way which they've been managing their clubs and ultimately decline to assume obligation for the future."

'Errors may undo substantial development'

The regulator engaged delegates from multiple organizations to lay out the remit of the oversight body this week and stated it constituted a "forward-thinking discussion" with a "significant participation" from the grassroots to elite level.

"It's a job that's actually really important, because if we get it wrong, if the football community fails, the significant advances achieved could disappear incredibly quickly," Kogan said.

"And that's what nobody wants in the context of the English game is a substantial accomplishment - we need to continue the progress.

"There's an enormous amount of money entering the sport and has come into football for the past two decades, because there are no assurances it will persist in entering the game, which is one of the reasons why I think we have to take a really clear view on challenges and obviously, of the coming seasons."

Premier League Concerns

Elite division representatives objected to the creation of a regulator because of fears of a negative impact on the elite division's competitive balance, but the chairman responded: "I'm absolutely committed to the prosperity and expansion as an financial organization of the top division.

"As someone who appreciates the concern of undermining the Premier League as a premium product of this country. But concurrently, if you talk to the Premier League after this week's discussion, they would have had a substantial amount of confidence -and, in fact, they have been advising us privately they have a significant confidence."

Partisan Associations

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

The chairman provided financial support for 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 party membership ceased the day the parliamentary committee confirmed my selection," the regulator explained.

"I currently have no participation in any sort of politics."