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The Championship club's ongoing struggles constitute a "significant problem" and the new football authority is aiming to acquire authority to investigate clubs in comparable cases, its new chair the regulator has declared.

In a wide-ranging interview, the regulator, who was named to the position this week, showed understanding towards Wednesday's fanbase.

The regulator engaged with four supporters' associations associated with the South Yorkshire club this week.

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 multiple instances, including in the autumn.

"Clearly Sheffield Wednesday has been a serious issue for football authorities and a substantial concern for English football," Kogan told.

"Wednesday stands as one of the great brands for the English game and this week we have met fan representatives.

"We're now looking to get powers... which will allow us to have Wednesday and comparable cases brought to our attention if they require examination and addressed."

Monetary Issues and Proprietorship Status

The club's controversial proprietor the Thai businessman suggested earlier this year he would be prepared to relinquish control at their home ground, but he has failed to complete a sale with interested parties.

Failure to pay player wages on time in March and May caused limitations by the football authorities in summer, stopping Wednesday from completing any transfers or loans for the subsequent signing windows, although those limitations were removed in August.

Official's Viewpoint

The chairman stated: "The job [of the regulator] is there for the supporters of Wednesday, Bury or any football club where supporters are loyal to a local institution that has been part of their lives in many cases.

"I fully appreciate Sheffield Wednesday, as I do for all the clubs that since 1992 have gone to the wall, or been close to going to the wall, for reasons that have nothing to do with the fans themselves."

Questioned about whether the authority might compel an proprietor to divest a club if they are deemed unsuitable, Kogan said: "Should the inquiry concern 'would we intervene in the final instance?', the reply is once we assemble the facts and understand the situation, we will."

But the chairman emphasized that forcing owners to sell clubs would be treated as a "last resort" and the regulator would prefer to work with them.

"Our least desirable course of action is start getting involved with an individual club, an specific proprietor, without being able to work with that owner to try and resolve the issues that the club's facing and the chairman's encountering," Kogan said.

"However, realistically, when you review the record of the sport, over the past few decades there have been certain proprietors, not many, but certain individuals who have acted carelessly in the way which they've been managing their teams and eventually refuse to accept accountability for the future."

'Errors may undo substantial development'

Kogan met with representatives from 110 clubs to explain the responsibilities of the authority recently and stated it constituted a "progressive gathering" with a "substantial involvement" from the lower divisions to the top flight.

"This position carries substantial significance, because if errors are made, if the football community fails, the significant advances achieved could disappear incredibly quickly," the chairman stated.

"This represents everyone's worst fear in the context of the English game is a huge success story - we need to continue the progress.

"Considerable investment flowing into the game and has come into football for the past two decades, because there's no guarantee it will keep flowing into the sport, which is part of the rationale behind I think we have to take a really clear view on risk and of course, of the coming seasons."

Top Flight Apprehensions

Top flight officials resisted the creation of a regulator because of concerns about detrimental effects on the top-flight's competitiveness, but the chairman responded: "I'm absolutely committed to the success and growth as an commercial operation of the Premier League.

"As someone who appreciates the concern of undermining the Premier League as a premium product of England. But concurrently, if you engage with division representatives after the recent gathering, they would have had a substantial amount of confidence -and, indeed, they have been advising us privately they have a considerable comfort."

Partisan Associations

Kogan is still facing a "comprehensive investigation" by the official appointments authority after he revealed he contributed money to the Labour Party in the past.

The 68-year-old contributed funds to Culture Secretary the politician's campaign, along with that of the government leader.

"I have been entirely transparent regarding my past party membership [with Labour], and that party membership ceased the day the select committee approved my appointment," the regulator explained.

"I am no longer involved in any sort of politics."