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The Championship club's ongoing struggles constitute a "serious issue" and the football regulator is looking to gain the ability to examine team situations in similar circumstances, its new chair the official has declared.

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

Kogan met with four fan organizations representing the football team recently.

The football club have been facing challenges both on and off the pitch in the current year, with the club failing to pay players on time on five separate occasions, including in last month.

"Evidently Wednesday represents a major concern for the league and a significant problem for football," the regulator explained.

"The club represents one of the historic institutions for English football and this week we have met supporters' organizations.

"We are seeking authority... which will enable us to take Wednesday and comparable cases referred to us if they warrant scrutiny and addressed."

Monetary Issues and Proprietorship Status

The team's struggling chairman the current owner suggested earlier this year he would be willing to sell up at the stadium, but he has not been able to secure a deal with potential new owners.

Missed wage deadlines on time in earlier this year resulted in restrictions being imposed by the English Football League (EFL) in June, blocking the team from conducting any recruitment activities for the subsequent signing windows, although that restriction was lifted in the end of the transfer window.

Authority's Position

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 existed throughout their lifetimes in many cases.

"I completely understand Sheffield Wednesday, as I do for every team that in modern times have encountered failure, or been close to going to the wall, for reasons that have nothing to do with the followers."

When asked if the authority might compel an proprietor to divest a club if they are considered unfit, the chairman responded: "When asking whether 'would we intervene in the final instance?', the response would be once we assemble the facts and comprehend the circumstances, we will."

But the chairman emphasized that forcing owners to sell clubs would be viewed as the ultimate measure and the regulator would prefer to work with them.

"The final option we would consider is start getting involved with an specific team, 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.

"However, realistically, when you look back over the history of football, over the last 20 or 30 years there have been some owners, a small minority, but certain individuals who have acted carelessly in the way which they've been managing their organizations and finally refuse to accept accountability for the future."

'If we get it wrong, extraordinary progress vanishes'

Kogan met with officials from numerous teams to detail the scope of the regulator on Wednesday and stated it constituted 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 if errors are made, if the football community fails, the significant advances achieved might evaporate rapidly," the regulator warned.

"And that's what nobody wants in the realm of domestic football is a huge success story - we've got to keep it going.

"There's an enormous amount of money coming into football and has been channeled for the last 20 or 25 years, because there's no guarantee it will keep flowing into the sport, which is part of the rationale behind I think we have to maintain a focused outlook on challenges and obviously, of the next two or three years."

Elite Division Worries

Top flight officials resisted the creation of a regulator because of apprehensions regarding adverse consequences on the elite division's competitive balance, but the regulator stated: "I completely endorse the success and growth as an commercial operation of the top division.

"Being fully aware of the concern of undermining the Premier League as a premium product of this country. But at the same time, if you engage with division representatives after this week's discussion, they would have had a substantial amount of confidence -and, indeed, they have been advising us privately they have a significant confidence."

Partisan Associations

The chairman continues to confront a "full inquiry" by the public appointments commissioner after he acknowledged providing funds to the Labour Party in the past.

The official contributed funds to Secretary of State for Culture, Media and Sport the politician's campaign, along with that of the current Prime Minister.

"I have fully disclosed my former ideological connection [with Labour], and that political affiliation came to an end the day the official body endorsed my nomination," the regulator explained.

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