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Sheffield Wednesday's persistent issues constitute a "significant problem" and the independent regulator is seeking powers to examine team situations in similar circumstances, its new chair the regulator has declared.

Through a comprehensive talk, Kogan, who was named to the position this week, showed understanding towards the club's followers.

The regulator engaged with four supporter groups connected to the Championship side recently.

The team have been struggling on and off the field in this season, with the club delaying salary disbursements on five separate occasions, including in September.

"Clearly Sheffield Wednesday has been a significant problem for EFL and a significant problem for football," Kogan told.

"The club represents one of the iconic names for football in England and recently we have met fan representatives.

"We're now looking to get powers... which will allow us to have Wednesday and comparable cases brought to our attention if they warrant scrutiny and dealt with."

Monetary Issues and Proprietorship Status

The team's struggling chairman the current owner indicated in the summer he would be prepared to relinquish control at the stadium, but he has not been able to secure a deal with potential new owners.

Failure to pay player wages on time in earlier this year caused limitations by the league officials in June, stopping Wednesday from completing any transfers or loans for the following recruitment periods, although those limitations were removed in August.

Regulator's Perspective

The regulator explained: "The job [of the regulator] is there for the Owls followers, teams facing challenges where fans are dedicated to a regional establishment that has represented their community in multiple situations.

"I have absolute sympathy for the club's situation, as I do for all the clubs that over recent decades have faced collapse, or nearly ceased operations, for reasons that have nothing to do with the followers."

Questioned about whether the regulator could force an proprietor to divest a club if they are judged inappropriate, Kogan said: "If your question is 'would we intervene in the final instance?', the response would be once we collect the information and comprehend the circumstances, we will."

But the regulator clarified that compelling proprietors to divest clubs would be treated as a "last resort" and the oversight body would choose to cooperate with proprietors.

"The final option we would consider is begin intervening in an specific team, an individual owner, without having the opportunity to collaborate with that proprietor to address the problems affecting the organization and the chairman's encountering," Kogan said.

"However, realistically, when you review the record of the game, over the recent generations there have been certain proprietors, not many, but particular people who have shown negligence in the manner they have operated their teams and eventually decline to assume obligation for the coming years."

'If we get it wrong, extraordinary progress vanishes'

Kogan met with officials from numerous teams to lay out the remit of the oversight body this week 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 should mistakes occur, if the football community fails, the significant advances achieved could disappear swiftly," the regulator warned.

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

"There's an enormous amount of money flowing into the game and has been invested for the past two decades, because there's no guarantee it will persist in entering the game, which is among the factors explaining I think we have to take a really clear view on potential dangers and naturally, of the coming seasons."

Premier League Concerns

The Premier League opposed the establishment of an oversight body because of apprehensions regarding adverse consequences on the top-flight's competitiveness, but the chairman responded: "I'm absolutely committed to the success and growth as an financial organization of the elite league.

"Being fully aware of the apprehension regarding damaging the division as a high-quality offering of England. But at the same time, if you talk to the Premier League after the recent gathering, they would have had a significant degree of comfort -and, actually, they have been telling us in private they have a high level of reassurance."

Partisan Associations

The chairman continues to confront a "comprehensive investigation" by the official appointments authority after he disclosed making donations to the Labour Party in recent years.

The official provided financial support for government minister Lisa Nandy's leadership campaign, along with that of the now Prime Minister Sir Keir Starmer.

"I have fully disclosed my former ideological connection [with Labour], and that ideological connection terminated the day the select committee approved my appointment," the chairman stated.

"I currently have no participation in any form of political activity."