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The Championship club's persistent issues are seen as a "significant problem" and the football regulator is seeking powers to investigate clubs 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, voiced concern towards supporters of the Owls.

The chairman convened with four supporters' associations representing the Championship side this week.

The team have been experiencing difficulties in multiple areas in this season, with the club missing wage payments on five separate occasions, including in September.

"Clearly Sheffield Wednesday has been a serious issue for football authorities and a substantial concern for English football," the regulator explained.

"The club represents one of the historic institutions for English football and in recent days we have met Sheffield Wednesday supporters' groups.

"We are seeking authority... which will allow us to have Sheffield Wednesday - and other clubs submitted for our review if they require examination and dealt with."

Economic Challenges and Ownership Situation

Wednesday's embattled owner the current owner suggested earlier this year he would be prepared to relinquish control at the stadium, but he has failed to complete a sale with prospective buyers.

Missed wage deadlines on time in spring months resulted in restrictions being imposed by the football authorities in summer, stopping Wednesday from completing any transfers or loans for the next three transfer windows, although that restriction was lifted in late summer.

Regulator's Perspective

The chairman stated: "Our role exists to serve the Owls followers, other clubs in similar situations where fans are dedicated to a community organization that has been part of their lives in multiple situations.

"I have absolute sympathy for Sheffield Wednesday, as I do for all the clubs that in modern times have encountered failure, or approached financial ruin, for causes separate from the followers."

Inquired if the regulator could force an proprietor to divest a club if they are considered unfit, Kogan said: "If your question is 'would we intervene in the final instance?', the answer is once we gather the evidence and understand the situation, we will."

But the regulator clarified that forcing owners to sell clubs would be considered the final option and the authority would rather to work with them.

"The last thing what we want to do is start getting involved with an specific team, an individual owner, without having the opportunity to collaborate with that chairman to fix the problems affecting the organization and the chairman's encountering," Kogan said.

"But the truth is, when you review the record of football, over the last 20 or 30 years there have been certain proprietors, not many, but some who have been irresponsible in the approach they have taken toward their teams and eventually refuse to accept accountability for the future."

'If we get it wrong, extraordinary progress vanishes'

The regulator engaged representatives from 110 clubs to lay out the remit of the authority recently and insisted it was a "progressive gathering" with a "high level of engagement" from the lower divisions to the top flight.

"It's a job that's actually really important, because if we get it wrong, if the world of football gets it wrong, the extraordinary progress that's been made might evaporate swiftly," the regulator warned.

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

"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 keep flowing into the sport, which is part of the rationale behind I think we have to adopt a precise perspective on challenges and obviously, of the coming seasons."

Top Flight Apprehensions

The Premier League opposed the formation of an authority because of concerns about detrimental effects on the Premier League's sporting equality, but the chairman responded: "I'm absolutely committed to the success and growth as an economic entity of the elite league.

"As someone who appreciates the apprehension regarding damaging the division as a high-quality offering of England. But concurrently, if you engage with division representatives after the recent gathering, they would have had a substantial amount of confidence -and, indeed, they have been advising us privately they have a significant confidence."

Partisan Associations

The regulator remains subject to a "full inquiry" by the official appointments authority after he disclosed making donations to the political party in recent years.

The 68-year-old donated money to Secretary of State for Culture, Media and Sport the minister's leadership bid, along with that of the government leader.

"I have fully disclosed 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 type of partisan engagement."