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Sheffield Wednesday's persistent issues represent a a "major concern" and the new football authority is aiming to acquire authority to examine team situations in such situations, its new chair the regulator has announced.

During an extensive discussion, Kogan, who was appointed on Monday, voiced concern towards Wednesday's fanbase.

The regulator engaged with four supporters' associations associated with the Championship side in recent days.

The Championship side have been facing challenges both on and off the pitch in this season, with the club failing to pay players on time on multiple instances, including in the autumn.

"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 English football and this week we have met supporters' organizations.

"Our aim is to acquire the ability... which will permit us to bring the club and similar situations submitted for our review if they warrant scrutiny and dealt with."

Economic Challenges and Ownership Situation

Wednesday's embattled owner the Thai businessman stated during the off-season he would be willing to sell up at the stadium, but he has been unable to finalize an agreement with prospective buyers.

Delayed salary payments on time in earlier this year resulted in restrictions being imposed by the English Football League (EFL) in mid-year, stopping Wednesday from completing any transfers or loans for the subsequent signing windows, although those limitations were removed in late summer.

Authority's Position

Kogan said: "The job [of the regulator] is there for the Owls followers, teams facing challenges where supporters are loyal to a regional establishment that has existed throughout their lifetimes in numerous instances.

"I fully appreciate the team's plight, as I do for each organization that over recent decades have faced collapse, or been close to going to the wall, for reasons that have nothing to do with the followers."

Inquired if the regulator could force an owner to sell a club if they are considered unfit, the regulator answered: "When asking whether 'would we intervene in the final instance?', the reply is once we gather the evidence and comprehend the circumstances, we will."

But Kogan stressed that requiring chairmen to relinquish clubs would be viewed as the ultimate measure and the authority would rather to work with them.

"The last thing what we want to do is begin intervening in an individual club, an specific proprietor, without having the opportunity to collaborate with that proprietor to address the challenges confronting the team and the proprietor's dealing with," the chairman stated.

"But the truth is, when you look back over the history of the sport, over the last 20 or 30 years there have been certain proprietors, not many, but certain individuals who have acted carelessly in the approach they have taken toward their organizations and finally don't wish to take responsibility for the future."

'Errors may undo substantial development'

Kogan met with officials from numerous teams to detail the scope of the regulator on Wednesday and insisted it was a "proactive meeting" with a "significant participation" from the National League to the Premier League.

"It's a job that's actually really important, because if we get it wrong, if the football community fails, the significant advances achieved necessary will vanish incredibly quickly," 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 coming into football and has been channeled for the recent generations, because certainty is lacking it will persist in entering the game, which is part of the rationale behind I think we have to maintain a focused outlook on risk and of course, of the next two or three years."

Elite Division Worries

The Premier League opposed the creation of a regulator because of concerns about detrimental effects on the elite division's competitive balance, but Kogan said: "I completely endorse the success and growth as an financial organization of the Premier League.

"As someone who appreciates the worry about compromising the division as a high-quality offering of this country. But simultaneously, if you consult with top flight officials after the recent gathering, they would have had a significant degree of comfort -and, actually, they have been advising us privately they have a high level of reassurance."

Ideological Links

The regulator remains subject to a "full inquiry" by the Commissioner for Public Appointments after he disclosed making donations to the political party in recent years.

The 68-year-old donated money to Culture Secretary Lisa Nandy's leadership campaign, along with that of the now Prime Minister Sir Keir Starmer.

"I've been completely open about my former ideological connection [with Labour], and that party membership ceased the day the parliamentary committee confirmed my selection," the regulator explained.

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