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The team's persistent issues represent a a "significant problem" and the new football authority is aiming to acquire authority to examine team situations in comparable cases, its new chair David Kogan has declared.

In a wide-ranging interview, Kogan, who was named to the position this week, showed understanding towards the club's followers.

The chairman convened with four fan organizations connected to the Championship side in recent days.

The Championship side have been facing challenges both on and off the pitch in the current year, with the club failing to pay players on time on several different times, including in September.

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

"Wednesday stands as one of the historic institutions for English football and recently we have met supporters' organizations.

"We're now looking to get powers... which will enable us to take Sheffield Wednesday - and other clubs brought to our attention if they require examination and dealt with."

Monetary Issues and Proprietorship Status

The team's struggling chairman the Thai businessman suggested earlier this year he would be willing to sell up at Hillsborough, but he has failed to complete a sale with interested parties.

Failure to pay player wages on time in earlier this year resulted in restrictions being imposed by the league officials in June, preventing the club from carrying out any recruitment activities for the next three transfer windows, although those limitations were removed in August.

Authority's Position

Kogan said: "Our role exists to serve the Owls followers, teams facing challenges where supporters are loyal to a local institution that has been part of their lives in numerous instances.

"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 causes separate from the fans themselves."

When asked if the authority might compel an proprietor to divest a club if they are considered unfit, Kogan said: "If your question is 'would we intervene in the final instance?', the response would be once we collect the information and know what's going on, we will."

But the chairman emphasized that forcing owners to sell clubs would be viewed as the ultimate measure and the oversight body would choose to work with them.

"The final option we would consider is start getting involved with an particular organization, an particular chairman, without having the opportunity to collaborate with that proprietor to address the problems affecting the organization and the chairman's encountering," Kogan said.

"But the truth is, when you review the record of the sport, over the past few decades there have been particular chairmen, a small minority, but some who have been irresponsible in the manner they have operated their clubs and ultimately don't wish to take responsibility 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 authority recently and maintained it represented 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 we get it wrong, if the football community fails, the significant advances achieved might evaporate incredibly quickly," Kogan said.

"And that's what nobody wants in the context of the English game is a huge success story - we need to continue the progress.

"Substantial financial resources coming into football and has been invested for the last 20 or 25 years, because there's no guarantee it will persist in entering the game, which is one of the reasons why I think we have to take a really clear view on potential dangers and naturally, of the immediate future."

Premier League Concerns

Elite division representatives objected to the creation of a regulator because of fears of a negative impact on the top-flight's competitiveness, but the chairman responded: "I completely endorse the prosperity and expansion as an economic entity of the elite league.

"Being fully aware of the apprehension regarding damaging the division as a high-quality offering of the nation. But concurrently, 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 advising us privately they have a significant confidence."

Partisan Associations

The chairman continues to confront a "thorough examination" by the public appointments commissioner after he revealed he contributed money to the Labour Party in 2020.

The 68-year-old provided financial support for government minister Lisa Nandy's leadership campaign, along with that of the now Prime Minister Sir Keir Starmer.

"I have fully disclosed my previous political affiliation [with Labour], and that party membership ceased the day the select committee approved my appointment," the regulator explained.

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