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Sheffield Wednesday's ongoing struggles represent a a "serious issue" and the independent regulator is aiming to acquire authority to examine team situations in similar circumstances, the newly appointed chairman the regulator has declared.

During an extensive discussion, Kogan, who was recently selected, expressed "sympathy" towards Wednesday's fanbase.

The chairman convened with four supporters' associations connected to the football team in recent days.

The Championship side have been facing challenges both on and off the pitch in the current year, with the club missing wage payments on five separate occasions, including in the autumn.

"Evidently Wednesday represents a major concern for the league and a major challenge for the sport," Kogan told.

"Sheffield Wednesday is one of the great brands for the English game and this week we have met fan representatives.

"We're now looking to get powers... which will permit us to bring Sheffield Wednesday - and other clubs submitted for our review if they warrant scrutiny and dealt with."

Financial Struggles and Ownership Situation

The team's struggling chairman the Thai businessman suggested earlier this year he would be prepared to relinquish control at their home ground, but he has not been able to secure a deal with potential new owners.

Missed wage deadlines on time in spring months resulted in restrictions being imposed by the English Football League (EFL) in June, stopping Wednesday from completing any player acquisitions for the following recruitment periods, although that restriction was lifted in late summer.

Authority's Position

The chairman stated: "Our role exists to serve the supporters of Wednesday, Bury or any football club where fans are dedicated to a regional establishment that has been part of their lives in numerous instances.

"I fully appreciate the club's situation, as I do for all the clubs that since 1992 have gone to the wall, or nearly ceased operations, for causes separate from the supporters."

When asked if the regulator could force an chairman to relinquish a club if they are deemed unsuitable, Kogan said: "Should the inquiry concern 'would we intervene in the final instance?', the answer is once we collect the information and comprehend the circumstances, we will."

But Kogan stressed that forcing owners to sell clubs would be treated as a "last resort" and the authority would rather to collaborate with owners.

"Our least desirable course of action is begin intervening in an specific team, an particular chairman, without having the opportunity to collaborate with that chairman to fix the problems affecting the organization and the owner's facing," the regulator explained.

"But the truth is, when you review the record of the game, over the recent generations there have been some owners, few in number, but some who have been irresponsible in the way which they've been managing their teams and eventually don't wish to take responsibility for the future."

'Mistakes could erase significant advances'

The regulator engaged delegates from multiple organizations to lay out the remit of the authority recently and stated it constituted a "progressive gathering" with a "significant participation" from the lower divisions to the top flight.

"This position carries substantial significance, because if we get it wrong, if the sport makes errors, the significant advances achieved could disappear swiftly," the chairman stated.

"This represents everyone's worst fear in the realm of domestic football is a huge success story - we need to continue the progress.

"There's an enormous amount of money entering the sport and has been channeled for the past two decades, because there are no assurances it will continue to come into football, which is among the factors explaining 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 creation of a regulator 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 economic entity of the elite league.

"I of all people understand the worry about compromising the top flight as an elite competition of the nation. But simultaneously, if you engage with division representatives after the recent gathering, they would have had a significant degree of comfort -and, actually, they have been informing us confidentially they have a high level of reassurance."

Partisan Associations

Kogan is still facing a "thorough examination" by the official appointments authority after he disclosed making donations to the political party in 2020.

The 68-year-old donated money to government minister the politician's campaign, along with that of the current Prime Minister.

"I have fully disclosed my previous political affiliation [with Labour], and that political affiliation came to an end the day the parliamentary committee confirmed my selection," Kogan said.

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