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Sheffield Wednesday's ongoing struggles constitute a "serious issue" and the football regulator is looking to gain the ability to investigate clubs in similar circumstances, the newly appointed chairman the official has announced.

During an extensive discussion, the regulator, who was appointed on Monday, expressed "sympathy" towards supporters of the Owls.

The regulator engaged with four fan organizations connected to the Championship side this week.

The team have been experiencing difficulties in multiple areas in the current year, with the club missing wage payments on five separate occasions, including in last month.

"Clearly Sheffield Wednesday has been a significant problem for EFL and a significant problem for football," the regulator explained.

"Wednesday stands as one of the historic institutions for English football and this week we have met fan representatives.

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

Economic Challenges 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 potential new owners.

Failure to pay player wages on time in spring months led to sanctions by the football authorities in summer, stopping Wednesday from completing any transfers or loans for the next three transfer windows, although the ban was rescinded in August.

Regulator's Perspective

The chairman stated: "Our role exists to serve the Owls followers, teams facing challenges where supporters are loyal to a regional establishment that has been part of their lives in many cases.

"I have absolute sympathy for the club's situation, as I do for each organization that in modern times have encountered failure, or approached financial ruin, for reasons that have nothing to do with the supporters."

Inquired if the regulator could force an proprietor to divest a club if they are judged inappropriate, the chairman responded: "Should the inquiry concern 'would we intervene in the final instance?', the answer is once we collect the information and understand the situation, we will."

But the regulator clarified that compelling proprietors to divest clubs would be treated as a "last resort" and the regulator would prefer to cooperate with proprietors.

"Our least desirable course of action is commence engagement with an specific team, an specific proprietor, without being in a position to cooperate with that owner to try and resolve the issues that the club's facing and the proprietor's dealing with," the regulator explained.

"But the truth is, when you look back over the history of the game, over the last 20 or 30 years there have been certain proprietors, a small minority, but some who have been irresponsible in the way which they've been managing their teams and eventually refuse to accept accountability for the long-term prospects."

'If we get it wrong, extraordinary progress vanishes'

The regulator engaged delegates from multiple organizations to explain the responsibilities of the oversight body this week and maintained it represented a "progressive gathering" with a "high level of engagement" from the National League to the Premier League.

"This position carries substantial significance, because if we get it wrong, if the football community fails, the remarkable development accomplished could disappear rapidly," Kogan said.

"And that's what nobody wants in the context of the English game is a substantial accomplishment - we've got to keep it going.

"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 among the factors explaining I think we have to maintain a focused outlook on challenges and obviously, of the immediate future."

Elite Division Worries

Top flight officials resisted the creation of a regulator because of fears of a negative impact on the top-flight's competitiveness, but the regulator stated: "I completely endorse the success and growth as an commercial operation of the elite league.

"I of all people understand the apprehension regarding damaging the division as a high-quality offering of England. But concurrently, if you talk to the Premier League after today's meeting, they would have had a substantial amount of confidence -and, indeed, they have been informing us confidentially they have a significant confidence."

Partisan Associations

The chairman continues to confront a "full inquiry" by the official appointments authority after he revealed he contributed money to the Labour Party in the past.

The official provided financial support for government minister the politician's 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 sort of politics."