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The Championship club's persistent issues represent a a "significant problem" and the football regulator is looking to gain the ability to investigate clubs in comparable cases, the recently named head the regulator has stated.

During an extensive discussion, Kogan, who was appointed on Monday, expressed "sympathy" towards supporters of the Owls.

The regulator engaged with four fan organizations representing the football team in recent days.

The football club have been facing challenges both on and off the pitch in this season, with the club failing to pay players on time on five separate occasions, including in the autumn.

"Obviously the club has become a serious issue for football authorities and a significant problem for football," Kogan told.

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

"Our aim is to acquire the ability... which will allow us to have Wednesday and comparable cases submitted for our review if they require examination and addressed."

Monetary Issues and Proprietorship Status

The team's struggling chairman the current owner suggested earlier this year he would be prepared to relinquish control at Hillsborough, but he has failed to complete a sale with prospective buyers.

Delayed salary payments on time in March and May caused limitations by the football authorities in mid-year, stopping Wednesday from completing any recruitment activities for the following recruitment periods, although that restriction was lifted in late summer.

Official's Viewpoint

Kogan said: "Our role exists to serve the fans of Sheffield Wednesday, teams facing challenges where supporters are loyal to a community organization that has been part of their lives in numerous instances.

"I fully appreciate Sheffield Wednesday, as I do for each organization that in modern times have encountered failure, or nearly ceased operations, for factors unrelated to the fans themselves."

Inquired if the authority might compel an proprietor to divest a club if they are judged inappropriate, Kogan said: "When asking whether 'would we intervene in the final instance?', the answer is once we collect the information and know what's going on, we will."

But the regulator clarified that requiring chairmen to relinquish clubs would be considered the final option and the oversight body would choose to collaborate with owners.

"The last thing what we want to do is begin intervening in an specific team, an individual owner, without being able to work with that chairman to fix the challenges confronting the team and the chairman's encountering," Kogan said.

"In actuality, when you look back over the history of football, over the recent generations there have been particular chairmen, a small minority, but some who have been irresponsible in the approach they have taken toward their clubs and ultimately don't wish to take responsibility for the future."

'Errors may undo substantial development'

The chairman convened with delegates from multiple organizations to detail the scope of the regulator on Wednesday and maintained it represented a "proactive meeting" with a "high level of engagement" from the grassroots to elite level.

"It's a job that's actually really important, because if errors are made, if the sport makes errors, the significant advances achieved necessary will vanish rapidly," the chairman stated.

"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 been invested for the past two decades, because certainty is lacking it will persist in entering the game, which is among the factors explaining I think we have to maintain a focused outlook on potential dangers and naturally, of the immediate future."

Elite Division Worries

Top flight officials resisted the formation of an authority because of fears of a negative impact on the top-flight's competitiveness, but Kogan said: "I fully support the achievement and development as an financial organization of the Premier League.

"I of all people understand the worry about compromising the Premier League as a premium product of this country. But at the same time, if you engage with division representatives after the recent gathering, they would have had a high level of reassurance -and, in fact, they have been telling us in private they have a high level of reassurance."

Political Connections

Kogan is still facing a "comprehensive investigation" by the official appointments authority after he disclosed making donations to the political party in recent years.

The official donated money to Culture Secretary Lisa Nandy's leadership campaign, along with that of the current Prime Minister.

"I have been entirely transparent regarding my former ideological connection [with Labour], and that political affiliation came to an end the day the official body endorsed my nomination," the chairman stated.

"I am presently disconnected from any type of partisan engagement."