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The Championship club's persistent issues are seen as a "significant problem" and the new football authority is looking to gain the ability to investigate clubs in comparable cases, the newly appointed chairman the official has declared.

In a wide-ranging interview, Kogan, who was appointed on Monday, showed understanding towards supporters of the Owls.

The regulator engaged with four supporters' associations connected to the football team in recent days.

The football club have been facing challenges both on and off the pitch in 2025, with the club missing wage payments on several different times, including in last month.

"Clearly Sheffield Wednesday has been a serious issue for football authorities and a major challenge for the sport," Kogan told.

"Wednesday stands as one of the great brands for the English game and this week we have met Sheffield Wednesday supporters' groups.

"Our aim is to acquire the ability... which will allow us to have the club and similar situations referred to us if they require examination and addressed."

Economic Challenges and Proprietorship Status

The club's controversial proprietor the Thai businessman indicated in the summer he would be open to selling the club at Hillsborough, but he has not been able to secure a deal with prospective buyers.

Delayed salary payments on time in March and May resulted in restrictions being imposed by the football authorities in summer, stopping Wednesday from completing any recruitment activities for the subsequent signing windows, although the ban was rescinded in August.

Authority's Position

The chairman stated: "Our role exists to serve the Owls followers, Bury or any football club where supporters are loyal to a local institution that has represented their community in multiple situations.

"I completely understand the club's situation, as I do for every team that over recent decades have faced collapse, or approached financial ruin, for causes separate from the supporters."

Inquired if the oversight body could require an proprietor to divest a club if they are considered unfit, Kogan said: "When asking whether 'would we intervene in the final instance?', the response would be once we collect the information and understand the situation, we will."

But the regulator clarified that requiring chairmen to relinquish clubs would be considered the final option and the regulator would prefer to work with them.

"Our least desirable course of action is commence engagement with an particular organization, an individual owner, without being able to work with that proprietor to address the issues that the club's facing and the proprietor's dealing with," the regulator explained.

"But the truth is, when you review the record of the game, over the last 20 or 30 years there have been some owners, not many, but particular people who have shown negligence in the approach they have taken toward their clubs and ultimately don't wish to take responsibility for the future."

'Mistakes could erase significant advances'

Kogan met with representatives from 110 clubs to detail the scope of the authority recently and maintained it represented a "progressive gathering" with a "significant participation" from the lower divisions to the top flight.

"This position carries substantial significance, because if errors are made, if the football community fails, the extraordinary progress that's been made might evaporate incredibly quickly," Kogan said.

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

"Substantial financial resources coming into football and has been invested for the last 20 or 25 years, because there are no assurances it will persist in entering the game, which is among the factors explaining I think we have to take a really clear view on challenges and obviously, of the coming seasons."

Elite Division Worries

Top flight officials resisted the establishment of an oversight body because of concerns about detrimental effects on the top-flight's competitiveness, but the chairman responded: "I'm absolutely committed to the prosperity and expansion as an commercial operation of the Premier League.

"Being fully aware of the concern of undermining the top flight as an elite competition of the nation. But at the same time, if you talk to the Premier League after the recent gathering, they would have had a substantial amount of confidence -and, actually, they have been telling us in private they have a high level of reassurance."

Partisan Associations

The regulator remains subject to a "full inquiry" by the public appointments commissioner after he acknowledged providing funds to the political party in the past.

The 68-year-old contributed funds to Secretary of State for Culture, Media and Sport Lisa Nandy's leadership campaign, along with that of the current Prime Minister.

"I've been completely open about my former ideological connection [with Labour], and that political affiliation came to an end the day the parliamentary committee confirmed my selection," the regulator explained.

"I am no longer involved in any form of political activity."