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The Championship club's persistent issues are seen as a "significant problem" and the football regulator is looking to gain the ability to examine team situations in such situations, the newly appointed chairman David Kogan has declared.

Through a comprehensive talk, the regulator, who was named to the position this week, expressed "sympathy" towards the club's followers.

The chairman convened with four supporters' associations representing the South Yorkshire club recently.

The football club have been struggling on and off the field in the current year, with the club missing wage payments on five separate occasions, including in the autumn.

"Evidently Wednesday represents a serious issue for football authorities and a substantial concern for English football," the regulator explained.

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

"We are seeking authority... which will permit us to bring Sheffield Wednesday - and other clubs brought to our attention if they warrant scrutiny and dealt with."

Economic Challenges and Proprietorship Status

The club's controversial proprietor Dejphon Chansiri suggested earlier this year he would be open to selling the club at their home ground, but he has failed to complete a sale with prospective buyers.

Delayed salary payments on time in March and May caused limitations by the football authorities in mid-year, preventing the club from carrying out any recruitment activities for the following recruitment periods, although the ban was rescinded in the end of the transfer window.

Official's Viewpoint

Kogan said: "The job [of the regulator] is there for the supporters of Wednesday, other clubs in similar situations where supporters are loyal to a local institution that has represented their community in numerous instances.

"I completely understand Sheffield Wednesday, as I do for each organization that over recent decades have faced collapse, or approached financial ruin, for causes separate from the followers."

Inquired if the authority might compel an owner to sell a club if they are deemed unsuitable, the regulator answered: "If your question is 'would we intervene in the final instance?', the answer is once we assemble the facts and understand the situation, we will."

But Kogan stressed that forcing owners to sell clubs would be treated as a "last resort" and the authority would rather to work with them.

"The last thing what we want to do is commence engagement with an individual club, an particular chairman, without being able to work with that chairman to fix the problems affecting the organization and the chairman's encountering," the regulator explained.

"In actuality, when you examine the past of the game, over the past few decades there have been some owners, a small minority, but certain individuals who have acted carelessly in the manner they have operated their organizations and finally refuse to accept accountability for the long-term prospects."

'Errors may undo substantial development'

Kogan met with representatives from 110 clubs to lay out the remit of the oversight body this week and maintained it represented a "forward-thinking discussion" with a "substantial involvement" from the lower divisions to the top flight.

"This position carries substantial significance, because should mistakes occur, if the world of football gets it wrong, the extraordinary progress that's been made might evaporate rapidly," the chairman stated.

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

"Considerable investment coming into football and has come into football for the past two decades, because there's no guarantee it will persist in entering the game, which is part of the rationale behind I think we have to maintain a focused outlook on challenges and obviously, of the immediate future."

Top Flight Apprehensions

Elite division representatives objected to the creation of a regulator because of concerns about detrimental effects on the Premier League's sporting equality, but Kogan said: "I'm absolutely committed to the prosperity and expansion as an economic entity of the elite league.

"I of all people understand the worry about compromising the top flight as an elite competition of the nation. But at the same time, if you consult with top flight officials after today's meeting, they would have had a substantial amount of confidence -and, in fact, they have been telling us in private they have a considerable comfort."

Partisan Associations

The chairman continues to confront a "thorough examination" by the Commissioner for Public Appointments after he acknowledged providing funds to the Labour Party in recent years.

The official contributed funds to Culture Secretary the politician's campaign, along with that of the now Prime Minister Sir Keir Starmer.

"I have been entirely transparent regarding my former ideological connection [with Labour], and that ideological connection terminated the day the parliamentary committee confirmed my selection," Kogan said.

"I am no longer involved in any form of political activity."