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The Championship club's persistent issues are seen as a "major concern" and the football regulator is looking to gain the ability to examine team situations in comparable cases, its new chair David Kogan has stated.

In a wide-ranging interview, the chairman, who was appointed on Monday, voiced concern towards the club's followers.

The chairman convened with four fan organizations associated with the South Yorkshire club in recent days.

The Championship side have been experiencing difficulties in multiple areas in this season, with the club failing to pay players on time on several different times, including in the autumn.

"Clearly Sheffield Wednesday has been a significant problem for EFL and a significant problem for football," the regulator explained.

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

"Our aim is to acquire the ability... which will allow us to have Wednesday and comparable cases submitted for our review if they warrant scrutiny and addressed."

Financial Struggles and Proprietorship Status

The club's controversial proprietor Dejphon Chansiri indicated in the summer he would be willing to sell up 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 mid-year, stopping Wednesday from completing any transfers or loans for the following recruitment periods, although that restriction was lifted in August.

Regulator's Perspective

Kogan said: "Our role exists to serve the fans of Sheffield Wednesday, other clubs in similar situations where fans are dedicated to a regional establishment that has been part of their lives in numerous instances.

"I completely understand the team's plight, as I do for every team that in modern times have encountered failure, or approached financial ruin, for reasons that have nothing to do with the supporters."

Inquired if the oversight body could require an proprietor to divest a club if they are deemed unsuitable, Kogan said: "If your question is 'would we intervene in the final instance?', the reply is once we assemble the facts and know what's going on, we will."

But the regulator clarified that forcing owners to sell clubs would be treated as a "last resort" and the oversight body would choose to work with them.

"Our least desirable course of action is begin intervening in an particular organization, an particular chairman, without being able to work with that owner to try and resolve the issues that the club's facing and the owner's facing," the chairman stated.

"In actuality, when you examine the past of the sport, over the recent generations there have been certain proprietors, a small minority, but particular people who have shown negligence in the approach they have taken toward their clubs and ultimately refuse to accept accountability for the future."

'If we get it wrong, extraordinary progress vanishes'

The chairman convened with representatives from 110 clubs to explain the responsibilities of the regulator on Wednesday and insisted it was a "progressive gathering" with a "significant participation" from the lower divisions to the top flight.

"It's a job that's actually really important, because if errors are made, if the football community fails, the extraordinary progress that's been made necessary will vanish incredibly quickly," the regulator warned.

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

"Substantial financial resources entering the sport and has been channeled for the past two decades, because there are no assurances it will keep flowing into the sport, which is among the factors explaining I think we have to maintain a focused outlook on challenges and obviously, of the coming seasons."

Top Flight Apprehensions

The Premier League opposed the establishment of an oversight body because of apprehensions regarding adverse consequences on the elite division's competitive balance, but the regulator stated: "I'm absolutely committed to the achievement and development as an economic entity of the Premier League.

"Being fully aware of the apprehension regarding damaging the division as a high-quality offering of the nation. But at the same time, if you talk to the Premier League after this week's discussion, they would have had a high level of reassurance -and, indeed, they have been informing us confidentially they have a significant confidence."

Political Connections

The chairman continues to confront a "thorough examination" by the public appointments commissioner after he disclosed making donations to the Labour Party in recent years.

The chairman donated money to Secretary of State for Culture, Media and Sport Lisa Nandy's leadership campaign, along with that of the government leader.

"I have fully disclosed my past party membership [with Labour], and that party membership ceased the day the parliamentary committee confirmed my selection," Kogan said.

"I am no longer involved in any sort of politics."