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The Championship club's ongoing struggles are seen as a "major concern" and the football regulator is aiming to acquire authority to examine team situations in similar circumstances, its new chair the regulator has stated.

Through a comprehensive talk, the chairman, who was named to the position this week, showed understanding towards the club's followers.

The regulator engaged with four supporter groups associated with the Championship side this week.

The team have been experiencing difficulties in multiple areas in the current year, with the club failing to pay players on time on several different times, including in the autumn.

"Evidently Wednesday represents a major concern for the league and a major challenge for the sport," the regulator explained.

"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 allow us to have Wednesday and comparable cases brought to our attention if they need to be investigated and dealt with."

Financial Struggles and Proprietorship Status

Wednesday's embattled owner the Thai businessman suggested earlier this year he would be prepared to relinquish control at their home ground, but he has not been able to secure a deal with prospective buyers.

Delayed salary payments on time in March and May led to sanctions by the English Football League (EFL) in June, preventing the club from carrying out any transfers or loans for the following recruitment periods, although the ban was rescinded in the end of the transfer window.

Authority's Position

The chairman stated: "The job [of the regulator] is there for the supporters of Wednesday, Bury or any football club 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 approached financial ruin, for causes separate from the fans themselves."

Inquired if the oversight body could require an owner to sell a club if they are judged inappropriate, the regulator answered: "When asking whether '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 forcing owners to sell clubs would be viewed as the ultimate measure and the regulator would prefer to cooperate with proprietors.

"The final option we would consider is begin intervening in an particular organization, an specific proprietor, without being in a position to cooperate with that proprietor to address the problems affecting the organization and the proprietor's dealing with," the chairman stated.

"In actuality, when you review the record of football, 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 organizations and finally decline to assume obligation for the coming years."

'Errors may undo substantial development'

The regulator engaged representatives from 110 clubs to detail the scope of the authority recently and insisted it was a "proactive meeting" with a "significant participation" from the lower divisions to the top flight.

"This position carries substantial significance, because should mistakes occur, if the world of football gets it wrong, the extraordinary progress that's been made necessary will vanish swiftly," Kogan said.

"Such an outcome is universally undesirable in the context of the English game is a substantial accomplishment - we need to continue the progress.

"Substantial financial resources coming into football and has been invested for the recent generations, because there are no assurances it will keep flowing into the sport, which is part of the rationale behind I think we have to adopt a precise perspective on risk and of course, of the immediate future."

Premier League Concerns

Elite division representatives objected to the creation of a regulator because of concerns about detrimental effects on the elite division's competitive balance, but the chairman responded: "I fully support the achievement and development as an commercial operation of the Premier League.

"Being fully aware of the apprehension regarding damaging the division as a high-quality offering of this country. But concurrently, if you talk to the Premier League after today's meeting, they would have had a substantial amount of confidence -and, in fact, they have been informing us confidentially they have a considerable comfort."

Partisan Associations

The chairman continues to confront a "thorough examination" by the public appointments commissioner after he revealed he contributed money to the political party in 2020.

The 68-year-old provided financial support for Culture Secretary the minister's leadership bid, along with that of the now Prime Minister Sir Keir Starmer.

"I have fully disclosed my past party membership [with Labour], and that political affiliation came to an end the day the select committee approved my appointment," the regulator explained.

"I am presently disconnected from any type of partisan engagement."