đź”— Share this article Sheff Wed Confronts a 'Significant Problem', States Independent Regulator 'Our role is integral to football's future' - newly appointed regulator the regulator's chair The team's current difficulties constitute a "serious issue" and the football regulator is aiming to acquire authority to examine team situations in such situations, its new chair the regulator has stated. In a wide-ranging interview, the regulator, who was appointed on Monday, showed understanding towards the club's followers. The chairman convened with four supporter groups representing the South Yorkshire club in recent days. The team have been facing challenges both on and off the pitch in the current year, with the club missing wage payments on several different times, including in last month. "Obviously the club has become a major concern for the league and a significant problem for football," the regulator explained. "Sheffield Wednesday is one of the great brands for English football and recently we have met Sheffield Wednesday supporters' groups. "We're now looking to get powers... which will permit us to bring the club and similar situations submitted for our review if they need to be investigated and dealt with." Financial Struggles and Ownership Situation The team's struggling chairman Dejphon Chansiri stated during the off-season he would be willing to sell up at the stadium, but he has failed to complete a sale with prospective buyers. Delayed salary payments on time in earlier this year resulted in restrictions being imposed by the league officials in summer, blocking the team from conducting any player acquisitions for the next three transfer windows, although the ban was rescinded in August. Authority's Position Kogan said: "Our role exists to serve the fans of Sheffield Wednesday, teams facing challenges where people are committed to a local institution that has been part of their lives in multiple situations. "I completely understand Sheffield Wednesday, as I do for all the clubs that in modern times have encountered failure, or been close to going to the wall, for factors unrelated to the supporters." Questioned about whether the authority might compel an owner to sell a club if they are considered unfit, the chairman responded: "Should the inquiry concern 'would we intervene in the final instance?', the answer is once we collect the information 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 work with them. "The last thing what we want to do is start getting involved with an specific team, an particular chairman, without having the opportunity to collaborate with that proprietor to address the challenges confronting the team and the owner's facing," Kogan said. "But the truth is, when you examine the past of the sport, over the last 20 or 30 years there have been some owners, few in number, but certain individuals who have acted carelessly in the way which they've been managing their teams and eventually refuse to accept accountability for the long-term prospects." Sheffield Wednesday supporters have been protesting against the team's chairman during the current campaign 'Errors may undo substantial development' The chairman convened with delegates from multiple organizations to explain the responsibilities of the authority recently and insisted it was a "proactive meeting" with a "substantial involvement" from the National League to the Premier League. "It's a job that's actually really important, because should mistakes occur, if the world of football gets it wrong, the significant advances achieved could disappear rapidly," the regulator warned. "Such an outcome is universally undesirable in the context of the English game is a major achievement - we've got to keep it going. "Substantial financial resources flowing into the game and has been channeled for the past two decades, because there are no assurances it will persist in entering the game, which is part of the rationale behind I think we have to take a really clear view on challenges and obviously, of the next two or three years." Premier League Concerns Elite division representatives objected to the establishment of an oversight body because of apprehensions regarding adverse consequences on the Premier League's sporting equality, but the regulator stated: "I fully support the prosperity and expansion as an economic entity of the top division. "As someone who appreciates the apprehension regarding damaging the division as a high-quality offering of the nation. But concurrently, if you engage with division representatives after today's meeting, they would have had a high level of reassurance -and, in fact, they have been telling us in private they have a considerable comfort." Political Connections Kogan is still facing a "full inquiry" by the official appointments authority after he acknowledged providing funds to the political party in the past. The 68-year-old contributed funds to Secretary of State for Culture, Media and Sport Lisa Nandy's leadership campaign, along with that of the government leader. "I've been completely open about my former ideological connection [with Labour], and that party membership ceased the day the official body endorsed my nomination," Kogan said. "I am no longer involved in any sort of politics."