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The Championship club's current difficulties represent a a "significant problem" and the new football authority is aiming to acquire authority to examine team situations in comparable cases, the recently named head the regulator has announced.

In a wide-ranging interview, the regulator, who was named to the position this week, voiced concern towards supporters of the Owls.

Kogan met with four supporters' associations connected to the South Yorkshire club recently.

The team have been facing challenges both on and off the pitch in this season, with the club missing wage payments on five separate occasions, including in last month.

"Obviously the club has become a significant problem for EFL and a major challenge for the sport," the chairman stated.

"Sheffield Wednesday is one of the historic institutions for the English game and recently we have met fan representatives.

"We're now looking to get powers... which will enable us to take Wednesday and comparable cases brought to our attention if they need to be investigated and dealt with."

Economic Challenges and Proprietorship Status

Wednesday's embattled owner the current owner stated during the off-season he would be prepared to relinquish control at the stadium, but he has been unable to finalize an agreement with potential new owners.

Failure to pay player wages on time in March and May led to sanctions by the league officials in summer, stopping Wednesday from completing any transfers or loans for the following recruitment periods, although that restriction was lifted in late summer.

Authority's Position

Kogan said: "The position was created for the supporters of Wednesday, Bury or any football club where people are committed to a regional establishment that has represented their community in many cases.

"I completely understand the team's plight, as I do for every team that over recent decades have faced collapse, or been close to going to the wall, for causes separate from the supporters."

When asked if the authority might compel an chairman to relinquish a club if they are judged inappropriate, the chairman responded: "If your question is 'would we intervene in the final instance?', the reply is once we collect the information and know what's going on, we will."

But Kogan stressed that forcing owners to sell clubs would be considered the final option and the authority would rather to work with them.

"Our least desirable course of action is start getting involved with an particular organization, an individual owner, without being able to work with that chairman to fix the issues that the club's facing and the chairman's encountering," the chairman stated.

"However, realistically, when you examine the past of the game, over the past few decades there have been particular chairmen, a small minority, but particular people who have shown negligence in the way which they've been managing their organizations and finally decline to assume obligation for the long-term prospects."

'If we get it wrong, extraordinary progress vanishes'

Kogan met with delegates from multiple organizations to explain the responsibilities of the regulator on Wednesday and maintained it represented a "forward-thinking discussion" with a "high level of engagement" from the lower divisions to the top flight.

"The role holds considerable importance, because should mistakes occur, if the world of football gets it wrong, the extraordinary progress that's been made necessary will vanish rapidly," Kogan said.

"Such an outcome is universally undesirable in the realm of domestic football is a major achievement - we need to continue the progress.

"Considerable investment flowing into the game and has been invested for the past two decades, because certainty is lacking it will persist in entering the game, which is among the factors explaining I think we have to maintain a focused outlook on challenges and obviously, of the coming seasons."

Elite Division Worries

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 chairman responded: "I completely endorse the prosperity and expansion as an commercial operation of the top division.

"Being fully aware of the worry about compromising the Premier League as a premium product of this country. But at the same time, if you consult with top flight officials after today's meeting, they would have had a substantial amount of confidence -and, in fact, they have been telling us in private they have a high level of reassurance."

Ideological Links

The chairman continues to confront a "comprehensive investigation" by the Commissioner for Public Appointments after he acknowledged providing funds to the opposition group in recent years.

The official donated money to Secretary of State for Culture, Media and Sport the politician's campaign, along with that of the government leader.

"I've been completely open about my previous political affiliation [with Labour], and that ideological connection terminated the day the official body endorsed my nomination," Kogan said.

"I am presently disconnected from any form of political activity."