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The Championship club's current difficulties constitute a "major concern" and the independent regulator is aiming to acquire authority to examine team situations in similar circumstances, its new chair the official has announced.

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

The chairman convened with four supporters' associations connected to the football team recently.

The football club have been experiencing difficulties in multiple areas in this season, with the club failing to pay players on time on multiple instances, including in September.

"Obviously the club has become a significant problem for EFL and a substantial concern for English football," Kogan told.

"The club represents one of the great brands for the English game and recently we have met supporters' organizations.

"Our aim is to acquire the ability... which will allow us to have Wednesday and comparable cases brought to our attention if they require examination and acted upon."

Economic Challenges and Leadership Concerns

The team's struggling chairman the Thai businessman indicated in the summer he would be willing to sell up at the stadium, but he has failed to complete a sale with interested parties.

Missed wage deadlines on time in spring months resulted in restrictions being imposed by the English Football League (EFL) in mid-year, stopping Wednesday from completing any recruitment activities for the following recruitment periods, although that restriction was lifted in the end of the transfer window.

Authority's Position

The chairman stated: "The job [of the regulator] is there for the fans of Sheffield Wednesday, teams facing challenges where people are committed to a local institution that has been part of their lives in many cases.

"I have absolute sympathy for the team's plight, as I do for every team that over recent decades have faced collapse, or nearly ceased operations, for factors unrelated to the fans themselves."

Inquired if the regulator could force an owner to sell a club if they are considered unfit, the chairman responded: "Should the inquiry concern 'would we intervene in the final instance?', the response would be once we gather the evidence and understand the situation, we will."

But Kogan stressed that compelling proprietors to divest clubs would be treated as a "last resort" and the oversight body would choose to cooperate with proprietors.

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

"In actuality, when you examine the past of the game, over the past few decades there have been certain proprietors, few in number, but certain individuals who have acted carelessly in the manner they have operated their teams and eventually don't wish to take responsibility for the future."

'If we get it wrong, extraordinary progress vanishes'

Kogan met with delegates from multiple organizations to detail the scope of the authority recently and insisted it was a "proactive meeting" with a "substantial involvement" from the lower divisions to the top flight.

"It's a job that's actually really important, because should mistakes occur, if the world of football gets it wrong, the remarkable development accomplished could disappear swiftly," Kogan said.

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

"Substantial financial resources flowing into the game and has been invested for the last 20 or 25 years, because there's no guarantee 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 immediate future."

Elite Division Worries

Elite division representatives objected to the establishment of an oversight body because of apprehensions regarding adverse consequences on the elite division's competitive balance, but the regulator stated: "I fully support the prosperity and expansion as an economic entity of the elite league.

"As someone who appreciates the apprehension regarding damaging the division as a high-quality offering of this country. But at the same time, if you consult with top flight officials after this week's discussion, they would have had a substantial amount of confidence -and, in fact, they have been advising us privately they have a considerable comfort."

Partisan Associations

The regulator remains subject to a "comprehensive investigation" by the public appointments commissioner after he revealed he contributed money to the opposition group in the past.

The chairman provided financial support for Secretary of State for Culture, Media and Sport the minister's leadership bid, along with that of the government leader.

"I have fully disclosed my former ideological connection [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."