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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 such situations, the recently named head the official has declared.

During an extensive discussion, the regulator, who was appointed on Monday, voiced concern towards the club's followers.

The chairman convened with four supporters' associations associated with the South Yorkshire club recently.

The football club have been facing challenges both on and off the pitch in this season, with the club delaying salary disbursements on five separate occasions, including in last month.

"Evidently Wednesday represents a significant problem for EFL and a major challenge for the sport," the chairman stated.

"Sheffield Wednesday is one of the historic institutions for football in England and in recent days we have met fan representatives.

"Our aim is to acquire the ability... which will enable us to take Sheffield Wednesday - and other clubs brought to our attention if they warrant scrutiny and dealt with."

Financial Struggles and Proprietorship Status

The club's controversial proprietor the current owner suggested earlier this year he would be open to selling the club at the stadium, but he has not been able to secure a deal with prospective buyers.

Failure to pay player wages on time in spring months caused limitations by the league officials in summer, blocking the team from conducting any recruitment activities for the subsequent signing windows, although that restriction was lifted in the end of the transfer window.

Official's Viewpoint

Kogan said: "The job [of the regulator] is there for the fans of Sheffield Wednesday, other clubs in similar situations where people are committed to a local institution that has represented their community in multiple situations.

"I fully appreciate the club's situation, as I do for every team that since 1992 have gone to the wall, 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 considered unfit, the regulator answered: "When asking whether 'would we intervene in the final instance?', the response would be once we assemble the facts and know what's going on, we will."

But the regulator clarified that forcing owners to sell clubs would be viewed as the ultimate measure and the regulator would prefer to work with them.

"The final option we would consider is commence engagement with an individual club, an particular chairman, without being in a position to cooperate with that owner to try and resolve the challenges confronting the team and the chairman's encountering," Kogan said.

"But the truth is, when you look back over the history of the game, over the recent generations there have been some owners, not many, but particular people who have shown negligence in the manner they have operated their organizations and finally refuse to accept accountability for the coming years."

'Mistakes could erase significant advances'

Kogan met with officials from numerous teams to detail the scope of the authority recently and maintained it represented a "progressive gathering" with a "high level of engagement" from the National League to the Premier League.

"The role holds considerable importance, because should mistakes occur, if the world of football gets it wrong, the extraordinary progress that's been made could disappear rapidly," the chairman stated.

"This represents everyone's worst fear in the context of the English game is a huge success story - we must maintain momentum.

"Considerable investment coming into football and has come into football for the recent generations, because there's no guarantee it will persist in entering the game, which is part of the rationale behind I think we have to maintain a focused outlook on potential dangers and naturally, of the immediate future."

Elite Division Worries

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

"Being fully aware of the apprehension regarding damaging the Premier League as a premium product of this country. But simultaneously, if you consult with top flight officials after the recent gathering, they would have had a substantial amount of confidence -and, indeed, they have been telling us in private they have a significant confidence."

Partisan Associations

Kogan is still facing a "thorough examination" by the Commissioner for Public Appointments after he disclosed making donations to the political party in recent years.

The chairman donated money 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 select committee approved my appointment," the regulator explained.

"I currently have no participation in any sort of politics."