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The Championship club's persistent issues represent a a "serious issue" and the new football authority is looking to gain the ability to look into club affairs in such situations, its new chair the official has announced.

In a wide-ranging interview, the chairman, who was appointed on Monday, voiced concern towards the club's followers.

Kogan met with four supporters' associations associated with the South Yorkshire club this week.

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 the autumn.

"Evidently Wednesday represents a significant problem for EFL and a major challenge for the sport," Kogan told.

"Wednesday stands as one of the historic institutions for English football and in recent days we have met Sheffield Wednesday supporters' groups.

"We're now looking to get powers... which will enable us to take Wednesday and comparable cases referred to us if they warrant scrutiny and addressed."

Financial Struggles and Proprietorship Status

The club's controversial proprietor the current owner indicated in the summer he would be prepared to relinquish control at their home ground, but he has been unable to finalize an agreement with prospective buyers.

Failure to pay player wages on time in spring months resulted in restrictions being imposed by the league officials in summer, stopping Wednesday from completing any recruitment activities for the following recruitment periods, although the ban was rescinded in the end of the transfer window.

Regulator's Perspective

Kogan said: "Our role exists to serve the supporters of Wednesday, other clubs in similar situations where people are committed to a regional establishment that has been part of their lives in numerous instances.

"I completely understand the club's situation, as I do for each organization that over recent decades have faced collapse, or nearly ceased operations, for factors unrelated to the supporters."

When asked if the authority might compel an chairman to relinquish a club if they are considered unfit, the regulator answered: "If your question is 'would we intervene in the final instance?', the response would be once we collect the information and comprehend the circumstances, we will."

But the regulator clarified that compelling proprietors to divest clubs would be treated as a "last resort" and the authority would rather to collaborate with owners.

"The last thing what we want to do is begin intervening in an particular organization, an specific proprietor, without being in a position to cooperate with that owner to try and resolve the challenges confronting the team and the chairman's encountering," Kogan said.

"But the truth is, when you examine the past of the sport, over the past few decades there have been particular chairmen, not many, but particular people who have shown negligence in the manner they have operated their organizations and finally don't wish to take responsibility for the long-term prospects."

'Errors may undo substantial development'

The regulator engaged delegates from multiple organizations to detail the scope of the oversight body this week and maintained it represented a "forward-thinking discussion" 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 we get it wrong, if the world of football gets it wrong, the significant advances achieved might evaporate swiftly," the chairman stated.

"Such an outcome is universally undesirable in the terms of English 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 are no assurances it will continue to come into football, which is among the factors explaining I think we have to maintain a focused outlook on risk and of course, of the coming seasons."

Top Flight Apprehensions

Elite division representatives objected to the creation of a regulator because of concerns about detrimental effects on the Premier League's sporting equality, but Kogan said: "I fully support the success and growth as an economic entity of the elite league.

"As someone who appreciates the worry about compromising the division as a high-quality offering of England. But simultaneously, if you engage with division representatives after the recent gathering, they would have had a high level of reassurance -and, in fact, they have been telling us in private they have a high level of reassurance."

Ideological Links

The regulator remains subject to a "thorough examination" by the official appointments authority after he disclosed making donations to the political party in the past.

The official provided financial support for Secretary of State for Culture, Media and Sport the politician's campaign, along with that of the current Prime Minister.

"I've been completely open about my previous political affiliation [with Labour], and that political affiliation came to an end the day the select committee approved my appointment," the chairman stated.

"I currently have no participation in any sort of politics."