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Sheffield Wednesday's persistent issues constitute a "major concern" and the independent regulator is seeking powers to investigate clubs in similar circumstances, the recently named head David Kogan has declared.

During an extensive discussion, the regulator, who was recently selected, voiced concern towards supporters of the Owls.

The regulator engaged with four fan organizations connected to the South Yorkshire club in recent days.

The football club have been experiencing difficulties in multiple areas in this season, with the club missing wage payments on several different times, including in September.

"Clearly Sheffield Wednesday has been a major concern for the league and a significant problem for football," the chairman stated.

"Wednesday stands as one of the great brands for the English game and in recent days we have met fan representatives.

"We are seeking authority... which will enable us to take Sheffield Wednesday - and other clubs brought to our attention if they require examination and dealt with."

Financial Struggles and Leadership Concerns

The club's controversial proprietor the current owner suggested earlier this year he would be prepared to relinquish control at the stadium, but he has been unable to finalize an agreement with prospective buyers.

Missed wage deadlines on time in earlier this year caused limitations by the football authorities in summer, preventing the club from carrying out any player acquisitions for the subsequent signing windows, although that restriction was lifted in the end of the transfer window.

Official's Viewpoint

Kogan said: "Our role exists to serve the supporters of Wednesday, teams facing challenges where supporters are loyal to a community organization that has existed throughout their lifetimes in numerous instances.

"I fully appreciate the team's plight, as I do for every team that in modern times have encountered failure, or been close to going to the wall, for reasons that have nothing to do with the followers."

Inquired if the oversight body could require an proprietor to divest a club if they are considered unfit, the regulator answered: "When asking whether 'would we intervene in the final instance?', the answer is once we collect the information and know what's going on, we will."

But Kogan stressed that requiring chairmen to relinquish clubs would be considered the final option and the regulator would prefer to cooperate with proprietors.

"Our least desirable course of action is start getting involved with an specific team, an individual owner, without having the opportunity to collaborate with that owner to try and resolve the challenges confronting the team and the owner's facing," the regulator explained.

"But the truth is, when you review the record of football, over the past few decades there have been some owners, a small minority, but some who have been irresponsible in the way which they've been managing their clubs and ultimately decline to assume obligation for the coming years."

'Mistakes could erase significant advances'

The chairman convened with delegates from multiple organizations to detail the scope of the authority recently and insisted it was a "forward-thinking discussion" with a "significant participation" from the grassroots to elite level.

"The role holds considerable importance, because if errors are made, if the football community fails, the remarkable development accomplished necessary will vanish swiftly," the chairman stated.

"This represents everyone's worst fear in the terms of English football is a huge success story - we've got to keep it going.

"Substantial financial resources entering the sport and has been invested for the last 20 or 25 years, because certainty is lacking it will continue to come into football, which is part of the rationale behind I think we have to adopt a precise perspective on potential dangers and naturally, of the immediate future."

Premier League Concerns

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 completely endorse the achievement and development as an commercial operation of the Premier League.

"Being fully aware of the concern of undermining the top flight as an elite competition of the nation. But at the same time, if you engage with division representatives after today's meeting, they would have had a high level of reassurance -and, in fact, they have been advising us privately they have a considerable comfort."

Political Connections

The regulator remains subject to a "full inquiry" by the public appointments commissioner after he revealed he contributed money to the opposition group in recent years.

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

"I have fully disclosed my past party membership [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 sort of politics."