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Sheffield Wednesday's ongoing struggles represent a a "serious issue" and the football regulator is seeking powers to examine team situations in such situations, the recently named head David Kogan has declared.

Through a comprehensive talk, the regulator, who was appointed on Monday, showed understanding towards supporters of the Owls.

Kogan met with four supporters' associations associated with the South Yorkshire club this week.

The team have been struggling on and off the field in this season, with the club failing to pay players on time on several different times, including in September.

"Evidently Wednesday represents a major concern for the league and a significant problem for football," Kogan told.

"The club represents one of the iconic names for football in England and recently we have met supporters' organizations.

"We are seeking authority... which will enable us to take Sheffield Wednesday - and other clubs referred to us if they require examination and addressed."

Financial Struggles and Ownership Situation

The team's struggling chairman the current owner suggested earlier this year he would be open to selling the club at their home ground, but he has been unable to finalize an agreement with prospective buyers.

Failure to pay player wages on time in spring months caused limitations by the league officials in summer, blocking the team from conducting any player acquisitions for the following recruitment periods, although that restriction was lifted in late summer.

Authority's Position

The regulator explained: "Our role exists to serve the fans of Sheffield Wednesday, Bury or any football club where fans are dedicated to a regional establishment that has been part of their lives in numerous instances.

"I completely understand the club's situation, as I do for each organization that over recent decades have faced collapse, or nearly ceased operations, for factors unrelated to the fans themselves."

When asked if the oversight body could require an proprietor to divest a club if they are deemed unsuitable, the regulator answered: "When asking whether 'would we intervene in the final instance?', the reply is once we assemble the facts and comprehend the circumstances, we will."

But the regulator clarified that forcing owners to sell clubs would be viewed as the ultimate measure and the regulator would prefer to work with them.

"The final option we would consider is commence engagement with an individual club, an specific proprietor, without being able to work with that chairman to fix the challenges confronting the team and the chairman's encountering," the chairman stated.

"However, realistically, when you review the record of the sport, over the last 20 or 30 years there have been certain proprietors, a small minority, but particular people who have shown negligence in the way which they've been managing their organizations and finally refuse to accept accountability for the future."

'If we get it wrong, extraordinary progress vanishes'

Kogan met with officials from numerous teams to explain the responsibilities of the authority recently and insisted it was a "proactive meeting" with a "substantial involvement" from the lower divisions to the top flight.

"The role holds considerable importance, because should mistakes occur, if the sport makes errors, the significant advances achieved could disappear incredibly quickly," the regulator warned.

"And that's what nobody wants in the context of the English game is a substantial accomplishment - we must maintain momentum.

"Substantial financial resources entering the sport and has been channeled for the recent generations, because certainty is lacking it will keep flowing into the sport, which is one of the reasons why I think we have to adopt a precise perspective on potential dangers and naturally, of the coming seasons."

Top Flight Apprehensions

Elite division representatives objected to the establishment of an oversight body because of fears of a negative impact on the Premier League's sporting equality, but the chairman responded: "I completely endorse the success and growth as an commercial operation of the top division.

"Being fully aware of 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 significant degree of comfort -and, indeed, they have been advising us privately they have a significant confidence."

Political Connections

The regulator remains subject to a "thorough examination" by the official appointments authority after he revealed he contributed money to the Labour Party in recent years.

The official provided financial support for Culture Secretary 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 select committee approved my appointment," the chairman stated.

"I am no longer involved in any type of partisan engagement."