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The Championship club's current difficulties constitute a "serious issue" and the new football authority is looking to gain the ability to investigate clubs in such situations, the recently named head the regulator has stated.

In a wide-ranging interview, Kogan, who was appointed on Monday, showed understanding towards supporters of the Owls.

Kogan met with four fan organizations associated with the South Yorkshire club recently.

The team have been experiencing difficulties in multiple areas in the current year, with the club missing wage payments on several different times, including in last month.

"Evidently Wednesday represents a significant problem for EFL and a substantial concern for English football," Kogan told.

"Sheffield Wednesday is one of the great brands for the English game and in recent days we have met supporters' organizations.

"We are seeking authority... which will permit us to bring Wednesday and comparable cases submitted for our review if they require examination and dealt with."

Monetary Issues and Proprietorship Status

The club's controversial proprietor Dejphon Chansiri stated during the off-season he would be open to selling the club at Hillsborough, but he has been unable to finalize an agreement with interested parties.

Missed wage deadlines on time in earlier this year caused limitations by the English Football League (EFL) in June, stopping Wednesday from completing any recruitment activities for the following recruitment periods, although the ban was rescinded in the end of the transfer window.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, other clubs in similar situations where fans are dedicated to a local institution that has represented their community in multiple situations.

"I completely understand the team's plight, as I do for all the clubs that over recent decades have faced collapse, or nearly ceased operations, for reasons that have nothing to do with the fans themselves."

When asked if the authority might compel an owner to sell 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 viewed as the ultimate measure and the oversight body would choose to cooperate with proprietors.

"Our least desirable course of action is start getting involved with an particular organization, an specific proprietor, without being in a position to cooperate with that chairman to fix the issues that the club's facing and the owner's facing," the regulator explained.

"But the truth is, when you examine the past of the game, over the recent generations there have been particular chairmen, a small minority, but particular people who have shown negligence in the approach they have taken toward their organizations and finally decline to assume obligation for the long-term prospects."

'Mistakes could erase significant advances'

Kogan met with delegates from multiple organizations to lay out the remit of the regulator on Wednesday and insisted it was a "forward-thinking discussion" with a "significant participation" from the grassroots to elite level.

"It's a job that's actually really important, because if errors are made, if the world of football gets it wrong, the extraordinary progress that's been made necessary will vanish swiftly," the regulator warned.

"Such an outcome is universally undesirable in the terms of English football is a substantial accomplishment - we've got to keep it going.

"Considerable investment entering the sport and has come into football for the past two decades, because certainty is lacking 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 next two or three years."

Top Flight Apprehensions

Top flight officials resisted the formation of an authority because of concerns about detrimental effects on the top-flight's competitiveness, but Kogan said: "I'm absolutely committed to the prosperity and expansion as an financial organization of the top division.

"Being fully aware of the apprehension regarding damaging the Premier League as a premium product of England. But simultaneously, if you talk to the Premier League after today's meeting, they would have had a substantial amount of confidence -and, indeed, they have been informing us confidentially they have a significant confidence."

Partisan Associations

The regulator remains subject to a "thorough examination" by the Commissioner for Public Appointments after he acknowledged providing funds to the political party in the past.

The 68-year-old donated money to Culture Secretary the politician's campaign, along with that of the government leader.

"I have been entirely transparent regarding my former ideological connection [with Labour], and that political affiliation came to an end the day the select committee approved my appointment," Kogan said.

"I am no longer involved in any type of partisan engagement."