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The Championship club's current difficulties constitute a "significant problem" and the football regulator is seeking powers to investigate clubs in comparable cases, the newly appointed chairman David Kogan has declared.

Through a comprehensive talk, Kogan, who was named to the position this week, voiced concern towards Wednesday's fanbase.

Kogan met with four fan organizations representing the football team this week.

The team have been experiencing difficulties in multiple areas in this season, with the club delaying salary disbursements on multiple instances, including in September.

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

"The club represents one of the historic institutions for the English game and recently we have met fan representatives.

"We are seeking authority... which will enable us to take the club and similar situations brought to our attention if they need to be investigated and dealt with."

Financial Struggles and Proprietorship Status

The team's struggling chairman Dejphon Chansiri indicated in the summer he would be open to selling the club at Hillsborough, but he has not been able to secure a deal with potential new owners.

Delayed salary payments on time in spring months resulted in restrictions being imposed by the English Football League (EFL) in mid-year, stopping Wednesday from completing any transfers or loans for the subsequent signing windows, although that restriction was lifted in the end of the transfer window.

Official's Viewpoint

The chairman stated: "The job [of the regulator] is there for the Owls followers, Bury or any football club where supporters are loyal to a local institution that has been part of their lives in numerous instances.

"I completely understand the club's situation, as I do for every team that in modern times have encountered failure, or approached financial ruin, for reasons that have nothing to do with the fans themselves."

Questioned about whether the oversight body could require an chairman to relinquish a club if they are deemed unsuitable, the chairman responded: "When asking whether 'would we intervene in the final instance?', the reply is once we assemble the facts and comprehend the circumstances, we will."

But the chairman emphasized that requiring chairmen to relinquish clubs would be considered the final option and the authority would rather to work with them.

"The last thing what we want to do is commence engagement with an specific team, an specific proprietor, without being in a position to cooperate with that chairman to fix the problems affecting the organization and the owner's facing," the chairman stated.

"But the truth is, when you look back over the history of football, over the recent generations there have been some owners, not many, but some who have been irresponsible in the approach they have taken toward their organizations and finally don't wish to take responsibility for the future."

'Mistakes could erase significant advances'

Kogan met with representatives from 110 clubs to lay out the remit of the authority recently and maintained it represented a "progressive gathering" with a "high level of engagement" from the lower divisions to the top flight.

"It's a job that's actually really important, because if errors are made, if the football community fails, the extraordinary progress that's been made could disappear rapidly," Kogan said.

"And that's what nobody wants in the terms of English football is a substantial accomplishment - we must maintain momentum.

"Considerable investment coming into football and has come into football for the last 20 or 25 years, because there are no assurances it will persist in entering the game, which is part of the rationale behind I think we have to adopt a precise perspective on challenges and obviously, of the immediate future."

Premier League Concerns

Top flight officials resisted the creation of a regulator because of fears of a negative impact on the elite division's competitive balance, but Kogan said: "I fully support the prosperity and expansion as an commercial operation of the elite league.

"Being fully aware of the apprehension regarding damaging the top flight as an elite competition of the nation. But simultaneously, if you talk to the Premier League after the recent gathering, they would have had a significant degree of comfort -and, indeed, they have been telling us in private they have a significant confidence."

Political Connections

The chairman continues to confront a "full inquiry" by the public appointments commissioner after he revealed he contributed money to the political party in the past.

The 68-year-old donated money to government minister Lisa Nandy's leadership campaign, along with that of the now Prime Minister Sir Keir Starmer.

"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 presently disconnected from any form of political activity."