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The Championship club's persistent issues constitute a "significant problem" and the new football authority is looking to gain the ability to examine team situations in comparable cases, the newly appointed chairman the official has stated.

Through a comprehensive talk, Kogan, who was appointed on Monday, showed understanding towards the club's followers.

Kogan met with four supporters' associations representing the football team in recent days.

The Championship side have been struggling on and off the field in the current year, with the club missing wage payments on five separate occasions, including in September.

"Evidently Wednesday represents a serious issue for football authorities and a significant problem for football," Kogan told.

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

"We're now looking to get powers... which will enable us to take Sheffield Wednesday - and other clubs submitted for our review if they need to be investigated and addressed."

Financial Struggles and Proprietorship Status

The club's controversial proprietor Dejphon Chansiri suggested earlier this year he would be prepared to relinquish control at their home ground, but he has failed to complete a sale with potential new owners.

Failure to pay player wages on time in earlier this year resulted in restrictions being imposed by the football authorities in summer, blocking the team from conducting any recruitment activities for the next three transfer windows, although the ban was rescinded in August.

Regulator's Perspective

The chairman stated: "The position was created for the fans of Sheffield Wednesday, Bury or any football club where people are committed to a community organization that has existed throughout their lifetimes in many cases.

"I fully appreciate Sheffield Wednesday, as I do for every team that since 1992 have gone to the wall, or been close to going to the wall, for factors unrelated to the supporters."

Inquired if the oversight body could require an proprietor to divest a club if they are considered unfit, the regulator answered: "Should the inquiry concern 'would we intervene in the final instance?', the answer is once we collect the information and know what's going on, we will."

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

"Our least desirable course of action is begin intervening in an particular organization, an individual owner, without having the opportunity to collaborate with that owner to try and resolve the issues that the club's facing and the chairman's encountering," Kogan said.

"In actuality, when you examine the past of the game, over the last 20 or 30 years there have been particular chairmen, not many, but some who have been irresponsible in the way which they've been managing their teams and eventually decline to assume obligation for the coming years."

'Mistakes could erase significant advances'

The chairman convened with delegates from multiple organizations to lay out the remit of the regulator on Wednesday and maintained it represented 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 remarkable development accomplished necessary will vanish rapidly," the regulator warned.

"Such an outcome is universally undesirable in the terms of English football is a substantial accomplishment - we must maintain momentum.

"Substantial financial resources flowing into the game and has come into football for the recent generations, because there are no assurances it will continue to come into football, which is one of the reasons why I think we have to adopt a precise perspective on potential dangers and naturally, of the immediate future."

Premier League Concerns

The Premier League opposed the creation of a regulator because of apprehensions regarding adverse consequences on the elite division's competitive balance, but Kogan said: "I'm absolutely committed to the prosperity and expansion as an economic entity of the top division.

"Being fully aware of the worry about compromising the top flight as an elite competition of the nation. But concurrently, if you engage with division representatives after this week's discussion, they would have had a substantial amount of confidence -and, actually, they have been informing us confidentially they have a significant confidence."

Political Connections

Kogan is still facing a "comprehensive investigation" by the public appointments commissioner after he disclosed making donations to the Labour Party in recent years.

The chairman provided financial support for Culture Secretary Lisa Nandy's leadership campaign, along with that of the current Prime Minister.

"I have fully disclosed my former ideological connection [with Labour], and that party membership ceased the day the select committee approved my appointment," the chairman stated.

"I am no longer involved in any form of political activity."