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Sheffield Wednesday's ongoing struggles are seen as a "significant problem" and the new football authority is aiming to acquire authority to examine team situations in comparable cases, the newly appointed chairman David Kogan has announced.

During an extensive discussion, the regulator, who was appointed on Monday, showed understanding towards supporters of the Owls.

The chairman convened with four supporter groups associated with the South Yorkshire club recently.

The football club have been experiencing difficulties in multiple areas in the current year, with the club missing wage payments on five separate occasions, including in last month.

"Obviously the club has become a serious issue for football authorities and a substantial concern for English football," the regulator explained.

"The club represents one of the iconic names for the English game and recently we have met fan representatives.

"Our aim is to acquire the ability... which will allow us to have the club and similar situations brought to our attention if they warrant scrutiny and dealt with."

Economic Challenges and Ownership Situation

The club's controversial proprietor the current owner indicated in the summer he would be willing to sell up at their home ground, but he has failed to complete a sale with potential new owners.

Delayed salary payments on time in earlier this year caused limitations by the football authorities in mid-year, preventing the club from carrying out any player acquisitions for the subsequent signing windows, although those limitations were removed in August.

Official's Viewpoint

Kogan said: "Our role exists to serve the fans of Sheffield Wednesday, other clubs in similar situations where supporters are loyal to a regional establishment that has existed throughout their lifetimes in multiple situations.

"I fully appreciate the team's plight, as I do for each organization that since 1992 have gone to the wall, or been close to going to the wall, for factors unrelated to the fans themselves."

Inquired if the oversight body could require an owner to sell a club if they are deemed unsuitable, Kogan said: "If your question is 'would we intervene in the final instance?', the answer is once we assemble the facts and understand the situation, we will."

But the chairman emphasized 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 particular organization, an particular chairman, without being able to work with that owner to try and resolve the challenges confronting the team and the proprietor's dealing with," the chairman stated.

"But the truth is, when you examine the past of the game, over the recent generations there have been particular chairmen, not many, but some who have been irresponsible in the manner they have operated their clubs and ultimately refuse to accept accountability for the long-term prospects."

'Mistakes could erase significant advances'

The chairman convened with representatives from 110 clubs to detail the scope of the authority recently and maintained it represented a "progressive gathering" with a "substantial involvement" from the National League to the Premier League.

"It's a job that's actually really important, because should mistakes occur, if the world of football gets it wrong, the significant advances achieved might evaporate incredibly quickly," Kogan said.

"This represents everyone's worst fear in the context of the English game is a major achievement - we've got to keep it going.

"Substantial financial resources coming into football and has been invested for the past two decades, because there's no guarantee it will continue to come into football, which is part of the rationale behind I think we have to maintain a focused outlook on risk and of course, of the immediate future."

Premier League Concerns

Top flight officials resisted the formation of an authority because of apprehensions regarding adverse consequences on the top-flight's competitiveness, but the chairman responded: "I fully support the achievement and development as an commercial operation of the top division.

"Being fully aware of the concern of undermining the Premier League as a premium product of this country. But simultaneously, if you engage with division representatives after this week's discussion, they would have had a significant degree of comfort -and, indeed, they have been advising us privately they have a significant confidence."

Partisan Associations

The chairman continues to confront a "comprehensive investigation" by the Commissioner for Public Appointments after he revealed he contributed money to the political party in the past.

The chairman provided financial support for government minister the minister's leadership bid, along with that of the now Prime Minister Sir Keir Starmer.

"I have been entirely transparent regarding my previous political affiliation [with Labour], and that ideological connection terminated the day the parliamentary committee confirmed my selection," the regulator explained.

"I am no longer involved in any sort of politics."