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The Championship club's persistent issues constitute a "major concern" and the new football authority is looking to gain the ability to examine team situations in comparable cases, the recently named head the regulator has announced.

In a wide-ranging interview, the regulator, who was appointed on Monday, voiced concern towards supporters of the Owls.

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

The Championship side have been struggling on and off the field in this season, with the club missing wage payments on several different times, including in September.

"Obviously the club has become a major concern for the league and a significant problem for football," Kogan told.

"Wednesday stands as one of the iconic names for football in England and in recent days we have met Sheffield Wednesday supporters' groups.

"We are seeking authority... which will enable us to take Wednesday and comparable cases referred to us if they need to be investigated and acted upon."

Economic Challenges and Proprietorship Status

Wednesday's embattled owner the current owner indicated in the summer he would be prepared to relinquish control at Hillsborough, but he has failed to complete a sale with interested parties.

Delayed salary payments on time in earlier this year resulted in restrictions being imposed by the football authorities in June, preventing the club from carrying out any player acquisitions for the following recruitment periods, although that restriction was lifted in August.

Authority's Position

Kogan said: "The position was created for the supporters of Wednesday, Bury or any football club where people are committed to a local institution that has existed throughout their lifetimes in numerous instances.

"I have absolute sympathy for Sheffield Wednesday, as I do for each organization that in modern times have encountered failure, or approached financial ruin, for causes separate from the supporters."

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 gather the evidence and know what's going on, we will."

But the chairman emphasized that compelling proprietors to divest clubs would be considered the final option and the authority would rather to cooperate with proprietors.

"The last thing what we want to do is commence engagement with an individual club, an specific proprietor, without being able to work with that proprietor to address the problems affecting the organization and the chairman's encountering," the regulator explained.

"However, realistically, when you review the record of football, over the last 20 or 30 years there have been some owners, not many, but some who have been irresponsible in the approach they have taken toward their clubs and ultimately refuse to accept accountability for the long-term prospects."

'Errors may undo substantial development'

The chairman convened with representatives from 110 clubs to detail the scope of the regulator on Wednesday and stated it constituted a "proactive meeting" with a "significant participation" from the lower divisions to the top flight.

"It's a job that's actually really important, because if we get it wrong, if the sport makes errors, the extraordinary progress that's been made might evaporate incredibly quickly," the regulator warned.

"Such an outcome is universally undesirable in the context of the English game is a substantial accomplishment - we need to continue the progress.

"Considerable investment entering the sport and has been invested for the last 20 or 25 years, because there's no guarantee it will persist in entering the game, which is part of the rationale behind I think we have to take a really clear view on challenges and obviously, of the next two or three years."

Premier League Concerns

Elite division representatives objected to the formation of an authority because of concerns about detrimental effects on the top-flight's competitiveness, but Kogan said: "I fully support the achievement and development as an economic entity of the top division.

"As someone who appreciates the concern of undermining the Premier League as a premium product of England. But at the same time, if you talk to the Premier League after the recent gathering, they would have had a high level of reassurance -and, in fact, they have been informing us confidentially they have a considerable comfort."

Political Connections

Kogan is still facing a "comprehensive investigation" by the public appointments commissioner after he disclosed making donations to the opposition group in 2020.

The official contributed funds to Secretary of State for Culture, Media and Sport Lisa Nandy's leadership campaign, along with that of the government leader.

"I have been entirely transparent regarding my past party membership [with Labour], and that political affiliation came to an end the day the parliamentary committee confirmed my selection," the chairman stated.

"I currently have no participation in any type of partisan engagement."