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The Championship club's ongoing struggles constitute a "major concern" and the new football authority is aiming to acquire authority to investigate clubs in such situations, the recently named head David Kogan has announced.

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

Kogan met with four supporter groups representing the Championship side in recent days.

The team have been struggling on and off the field in the current year, with the club delaying salary disbursements on five separate occasions, including in the autumn.

"Obviously the club has become a serious issue for football authorities and a major challenge for the sport," Kogan told.

"Sheffield Wednesday is one of the iconic names for the English game and this week we have met fan representatives.

"We are seeking authority... which will permit us to bring Sheffield Wednesday - and other clubs referred to us if they need to be investigated and acted upon."

Economic Challenges and Leadership Concerns

The club's controversial proprietor the current owner stated during the off-season he would be willing to sell up at Hillsborough, but he has failed to complete a sale with prospective buyers.

Failure to pay player wages on time in earlier this year caused limitations by the English Football League (EFL) in mid-year, stopping Wednesday from completing any transfers or loans for the subsequent signing windows, although the ban was rescinded in late summer.

Official's Viewpoint

The chairman stated: "Our role exists to serve the Owls followers, other clubs in similar situations where fans are dedicated to a regional establishment that has represented their community in multiple situations.

"I have absolute sympathy for the club's situation, as I do for all the clubs that in modern times have encountered failure, or nearly ceased operations, for reasons that have nothing to do with the followers."

When asked if the authority might compel an chairman to relinquish a club if they are deemed unsuitable, the chairman responded: "Should the inquiry concern 'would we intervene in the final instance?', the answer is once we collect the information and comprehend the circumstances, we will."

But the chairman emphasized that compelling proprietors to divest clubs would be considered the final option and the oversight body would choose to collaborate with owners.

"Our least desirable course of action is commence engagement with an specific team, an specific proprietor, without being able to work with that chairman to fix the issues that the club's facing and the proprietor's dealing with," Kogan said.

"But the truth is, when you review the record of the sport, over the past few decades there have been certain proprietors, few in number, but certain individuals who have acted carelessly in the approach they have taken toward their teams and eventually don't wish to take responsibility for the coming years."

'Errors may undo substantial development'

Kogan met with 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 world of football gets it wrong, the significant advances achieved necessary will vanish rapidly," Kogan said.

"This represents everyone's worst fear in the realm of domestic football is a major achievement - we need to continue the progress.

"There's an enormous amount of money entering the sport 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 among the factors explaining I think we have to maintain a focused outlook on risk and of course, of the coming seasons."

Premier League Concerns

Top flight officials resisted the establishment of an oversight body because of fears of a negative impact on the Premier League's sporting equality, but the regulator stated: "I fully support the prosperity and expansion as an commercial operation of the Premier League.

"Being fully aware of the concern of undermining the division as a high-quality offering of England. But at the same time, if you consult with top flight officials after the recent gathering, they would have had a significant degree of comfort -and, in fact, they have been informing us confidentially they have a high level of reassurance."

Ideological Links

Kogan is still facing a "full inquiry" by the public appointments commissioner after he acknowledged providing funds to the Labour Party in the past.

The chairman donated money to Culture Secretary the politician's campaign, along with that of the government leader.

"I have been entirely transparent regarding my former ideological connection [with Labour], and that party membership ceased the day the official body endorsed my nomination," the regulator explained.

"I currently have no participation in any type of partisan engagement."