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Sheffield Wednesday's persistent issues represent a a "serious issue" and the new football authority is seeking powers to investigate clubs in such situations, the newly appointed chairman David Kogan has declared.

During an extensive discussion, the regulator, who was appointed on Monday, expressed "sympathy" towards Wednesday's fanbase.

Kogan met with four supporters' associations associated with the South Yorkshire club in recent days.

The football club have been struggling on and off the field in this season, with the club missing wage payments on several different times, including in last month.

"Obviously the club has become a significant problem for EFL and a major challenge for the sport," Kogan told.

"The club represents one of the historic institutions for the English game and recently we have met Sheffield Wednesday supporters' groups.

"We are seeking authority... which will allow us to have Wednesday and comparable cases referred to us if they require examination and dealt with."

Economic Challenges and Ownership Situation

The team's struggling chairman the current owner stated during the off-season he would be open to selling the club at their home ground, but he has not been able to secure a deal with interested parties.

Missed wage deadlines on time in spring months caused limitations by the league officials in mid-year, blocking the team from conducting any recruitment activities for the following recruitment periods, although those limitations were removed in the end of the transfer window.

Authority's Position

The chairman stated: "The job [of the regulator] is there for the supporters of Wednesday, Bury or any football club where supporters are loyal to a community organization that has existed throughout their lifetimes in multiple situations.

"I have absolute sympathy for the team's plight, as I do for each organization that since 1992 have gone to the wall, or approached financial ruin, for factors unrelated to the fans themselves."

When asked if the regulator could force an chairman to relinquish a club if they are considered unfit, the regulator answered: "When asking whether 'would we intervene in the final instance?', the reply is once we assemble the facts and know what's going on, we will."

But Kogan stressed that compelling proprietors to divest clubs would be viewed as the ultimate measure and the authority would rather to collaborate with owners.

"Our least desirable course of action is start getting involved with an particular organization, an particular chairman, without being able to work with that chairman to fix the issues that the club's facing and the chairman's encountering," the chairman stated.

"However, realistically, when you examine the past of the sport, over the last 20 or 30 years there have been particular chairmen, few in number, but particular people who have shown negligence in the way which they've been managing their organizations and finally don't wish to take responsibility for the coming years."

'Errors may undo substantial development'

The chairman convened with representatives from 110 clubs to lay out the remit of the regulator on Wednesday and maintained it represented a "progressive gathering" with a "high level of engagement" from the grassroots to elite level.

"This position carries substantial significance, because if we get it wrong, if the world of football gets it wrong, the remarkable development accomplished might evaporate swiftly," the regulator warned.

"Such an outcome is universally undesirable in the terms of English football is a major achievement - we've got to keep it going.

"There's an enormous amount of money coming into football and has come into football for the recent generations, because there's no guarantee it will continue to come into football, which is among the factors explaining I think we have to adopt a precise perspective on risk and of course, of the coming seasons."

Premier League Concerns

Elite division representatives objected to the formation of an authority because of fears of a negative impact on the top-flight's competitiveness, but Kogan said: "I'm absolutely committed to the success and growth as an economic entity of the Premier League.

"I of all people understand the apprehension regarding damaging the Premier League as a premium product of the nation. But simultaneously, if you talk to the Premier League after the recent gathering, they would have had a substantial amount of confidence -and, in fact, they have been telling us in private they have a high level of reassurance."

Partisan Associations

Kogan is still facing a "full inquiry" by the official appointments authority after he disclosed making donations to the political party in the past.

The chairman provided financial support for government minister the politician's campaign, along with that of the current Prime Minister.

"I have fully disclosed my former ideological connection [with Labour], and that party membership ceased the day the parliamentary committee confirmed my selection," the regulator explained.

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