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Sheffield Wednesday's current difficulties are seen as a "significant problem" and the independent regulator is looking to gain the ability to investigate clubs in such situations, the newly appointed chairman the official has announced.

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

Kogan met with four fan organizations representing the South Yorkshire club in recent days.

The Championship side have been struggling on and off the field in this season, with the club missing wage payments on several different times, including in the autumn.

"Obviously the club has become a significant problem for EFL and a substantial concern for English football," the regulator explained.

"The club represents one of the iconic names for the English game and in recent days we have met supporters' organizations.

"We are seeking authority... which will allow us to have Wednesday and comparable cases submitted for our review if they warrant scrutiny and dealt with."

Financial Struggles and Ownership Situation

The team's struggling chairman the current owner suggested earlier this year he would be prepared to relinquish control at Hillsborough, but he has failed to complete a sale with prospective buyers.

Missed wage deadlines on time in spring months led to sanctions by the league officials in summer, blocking the team from conducting any player acquisitions for the next three transfer windows, although those limitations were removed in late summer.

Authority's Position

Kogan said: "The position was created for the fans of Sheffield Wednesday, teams facing challenges where people are committed to a community organization that has existed throughout their lifetimes in numerous instances.

"I have absolute sympathy for Sheffield Wednesday, as I do for all the clubs that since 1992 have gone to the wall, or nearly ceased operations, for reasons that have nothing to do with the supporters."

Questioned about whether the authority might compel an chairman to relinquish a club if they are considered unfit, the regulator answered: "When asking whether 'would we intervene in the final instance?', the reply is once we collect the information and understand the situation, we will."

But the chairman emphasized that requiring chairmen to relinquish clubs would be treated as a "last resort" and the oversight body would choose to work with them.

"The final option we would consider is start getting involved with an individual club, an particular chairman, without being in a position to cooperate with that chairman to fix the issues that the club's facing and the proprietor's dealing with," the regulator explained.

"However, realistically, when you review the record of the sport, over the last 20 or 30 years there have been particular chairmen, few in number, but some who have been irresponsible in the way which they've been managing their organizations and finally don't wish to take responsibility for the coming years."

'If we get it wrong, extraordinary progress vanishes'

The regulator engaged officials from numerous teams to explain the responsibilities of the regulator on Wednesday and stated it constituted a "proactive meeting" with a "high level of engagement" from the lower divisions to the top flight.

"The role holds considerable importance, because if errors are made, if the football community fails, the significant advances achieved might evaporate swiftly," the chairman stated.

"And that's what nobody wants 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 come into football for the past two decades, because there's no guarantee it will continue to come into football, which is one of the reasons why I think we have to take a really clear view on challenges and obviously, of the coming seasons."

Elite Division Worries

Elite division representatives objected to the creation of a regulator because of apprehensions regarding adverse consequences on the elite division's competitive balance, but the chairman responded: "I'm absolutely committed to the prosperity and expansion as an economic entity of the top division.

"Being fully aware of the worry about compromising the division as a high-quality offering of England. But simultaneously, if you engage with division representatives after the recent gathering, they would have had a significant degree of comfort -and, in fact, they have been telling us in private they have a high level of reassurance."

Political Connections

The regulator remains subject to a "full inquiry" by the official appointments authority after he disclosed making donations to the political party in recent years.

The chairman contributed funds to Secretary of State for Culture, Media and Sport Lisa Nandy's leadership campaign, along with that of the current Prime Minister.

"I have fully disclosed my former ideological connection [with Labour], and that political affiliation came to an end the day the select committee approved my appointment," the chairman stated.

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