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Sheffield Wednesday's current difficulties constitute a "significant problem" and the independent regulator is seeking powers to look into club affairs in similar circumstances, the recently named head the official has declared.

Through a comprehensive talk, the regulator, who was named to the position this week, showed understanding towards Wednesday's fanbase.

Kogan met with four supporters' associations connected to the South Yorkshire club recently.

The football club 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 last month.

"Evidently Wednesday represents a major concern for the league and a major challenge for the sport," the regulator explained.

"The club represents one of the iconic names for English football and this week we have met fan representatives.

"We are seeking authority... which will allow us to have Sheffield Wednesday - and other clubs submitted for our review if they need to be investigated and acted upon."

Monetary Issues and Ownership Situation

Wednesday's embattled owner the current owner stated during the off-season he would be prepared to relinquish control at Hillsborough, but he has not been able to secure a deal with interested parties.

Missed wage deadlines on time in earlier this year resulted in restrictions being imposed by the English Football League (EFL) in mid-year, preventing the club from carrying out any recruitment activities for the subsequent signing windows, although the ban was rescinded in August.

Official's Viewpoint

The regulator explained: "The job [of the regulator] is there for the supporters of Wednesday, Bury or any football club where people are committed to a community organization that has been part of their lives in multiple situations.

"I completely understand the club's situation, as I do for each organization that in modern times have encountered failure, or been close to going to the wall, for causes separate from the followers."

Inquired if the oversight body could require an proprietor to divest 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 assemble the facts and comprehend the circumstances, we will."

But the regulator clarified that requiring chairmen to relinquish clubs would be considered the final option and the oversight body would choose to collaborate with owners.

"Our least desirable course of action is commence engagement with an individual club, an particular chairman, without having the opportunity to collaborate with that owner to try and resolve the challenges confronting the team and the proprietor's dealing with," the regulator explained.

"In actuality, when you review the record of the sport, over the past few decades there have been particular chairmen, not many, but certain individuals who have acted carelessly in the way which they've been managing their clubs and ultimately refuse to accept accountability for the coming years."

'Errors may undo substantial development'

Kogan met with representatives from 110 clubs to lay out the remit of the regulator on Wednesday and maintained it represented a "proactive meeting" with a "substantial involvement" from the National League to the Premier League.

"The role holds considerable importance, because if errors are made, if the football community fails, the remarkable development accomplished necessary will vanish incredibly quickly," Kogan said.

"And that's what nobody wants in the realm of domestic football is a major achievement - we must maintain momentum.

"Substantial financial resources coming into football and has been invested for the recent generations, because there are no assurances it will continue to come into football, 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."

Elite Division Worries

Elite division representatives objected to the creation of a regulator because of concerns about detrimental effects on the elite division's competitive balance, but the chairman responded: "I'm absolutely committed to the prosperity and expansion as an commercial operation of the top division.

"Being fully aware of the concern of undermining the division as a high-quality offering 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 informing us confidentially they have a significant confidence."

Ideological Links

The chairman continues to confront a "full inquiry" by the public appointments commissioner after he disclosed making donations to the Labour Party in the past.

The 68-year-old contributed funds to Secretary of State for Culture, Media and Sport the politician's campaign, along with that of the current Prime Minister.

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

"I am presently disconnected from any sort of politics."