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The Championship club's ongoing struggles constitute a "major concern" and the football regulator is looking to gain the ability to examine team situations in such situations, its new chair David Kogan has stated.

During an extensive discussion, the regulator, who was named to the position this week, expressed "sympathy" towards Wednesday's fanbase.

Kogan met with four fan organizations connected to the Championship side this week.

The football club have been struggling on and off the field in this season, with the club failing to pay players on time on five separate occasions, including in last month.

"Obviously the club has become a significant problem for EFL and a major challenge for the sport," Kogan told.

"Wednesday stands as one of the historic institutions for football in England and recently we have met fan representatives.

"We're now looking to get powers... which will permit us to bring Sheffield Wednesday - and other clubs submitted for our review if they require examination and addressed."

Financial Struggles and Ownership Situation

Wednesday's embattled owner 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.

Delayed salary payments on time in earlier this year led to sanctions by the league officials in summer, stopping Wednesday from completing any player acquisitions for the following recruitment periods, although the ban was rescinded in August.

Official's Viewpoint

Kogan said: "The job [of the regulator] is there for the Owls followers, teams facing challenges where fans are dedicated to a local institution that has represented their community in numerous instances.

"I fully appreciate the club's situation, as I do for each organization that since 1992 have gone to the wall, or nearly ceased operations, for reasons that have nothing to do with the fans themselves."

Inquired if the oversight body could require an chairman to relinquish a club if they are judged inappropriate, Kogan said: "When asking whether 'would we intervene in the final instance?', the response would be once we assemble the facts and know what's going on, we will."

But the regulator clarified that requiring chairmen to relinquish clubs would be viewed as the ultimate measure and the regulator would prefer to collaborate with owners.

"The last thing what we want to do is commence engagement with an individual club, an individual owner, without having the opportunity to collaborate with that owner to try and resolve the challenges confronting the team and the proprietor's dealing with," Kogan said.

"But the truth is, when you examine the past of the game, over the past few decades there have been some owners, not many, but certain individuals who have acted carelessly in the manner they have operated their organizations and finally don't wish to take responsibility for the long-term prospects."

'Errors may undo substantial development'

The regulator engaged representatives from 110 clubs to explain the responsibilities of the regulator on Wednesday and stated it constituted a "proactive meeting" with a "high level of engagement" from the National League to the Premier League.

"It's a job that's actually really important, because if errors are made, if the football community fails, the remarkable development accomplished necessary will vanish rapidly," Kogan said.

"This represents everyone's worst fear in the context of the English game is a substantial accomplishment - we must maintain momentum.

"Considerable investment coming into football and has been invested for the recent generations, because certainty is lacking it will continue to come into football, which is part of the rationale behind I think we have to adopt a precise perspective on potential dangers and naturally, of the next two or three years."

Premier League Concerns

Elite division representatives objected to the formation of an authority because of fears of a negative impact on the top-flight's competitiveness, but the chairman responded: "I fully support the achievement and development as an financial organization of the elite league.

"Being fully aware of the concern of undermining the division as a high-quality offering of this country. But simultaneously, if you talk to the Premier League after today's meeting, they would have had a high level of reassurance -and, indeed, they have been informing us confidentially they have a considerable comfort."

Political Connections

The chairman continues to confront a "comprehensive investigation" by the official appointments authority after he acknowledged providing funds to the political party in recent years.

The chairman provided financial support for Culture Secretary the minister's leadership bid, along with that of the current Prime Minister.

"I have been entirely transparent regarding my past party membership [with Labour], and that party membership ceased the day the select committee approved my appointment," the chairman stated.

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