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The Championship club's ongoing struggles are seen as a "significant problem" and the football regulator is aiming to acquire authority to look into club affairs in such situations, its new chair the official has stated.

Through a comprehensive talk, the chairman, who was named to the position this week, voiced concern towards supporters of the Owls.

Kogan met with four supporters' associations connected to the Championship side in recent days.

The team have been struggling on and off the field in the current year, with the club missing wage payments on five separate occasions, including in the autumn.

"Obviously the club has become a serious issue for football authorities and a major challenge for the sport," Kogan told.

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

"We are seeking authority... which will permit us to bring Wednesday and comparable cases brought to our attention if they warrant scrutiny and dealt with."

Financial Struggles and Leadership Concerns

Wednesday's embattled owner Dejphon Chansiri stated during the off-season he would be prepared to relinquish control at the stadium, but he has been unable to finalize an agreement with interested parties.

Failure to pay player wages on time in spring months caused limitations by the football authorities in summer, preventing the club from carrying out any player acquisitions for the subsequent signing windows, although that restriction was lifted in the end of the transfer window.

Authority's Position

The chairman stated: "Our role exists to serve the fans of Sheffield Wednesday, other clubs in similar situations where fans are dedicated to a local institution that has existed throughout their lifetimes in many cases.

"I completely understand Sheffield Wednesday, as I do for every team that in modern times have encountered failure, or been close to going to the wall, for factors unrelated to the fans themselves."

Questioned about whether the oversight body could require an owner to sell a club if they are considered unfit, Kogan said: "If your question is 'would we intervene in the final instance?', the answer is once we collect the information and comprehend the circumstances, we will."

But Kogan stressed that requiring chairmen to relinquish clubs would be considered the final option and the regulator would prefer to collaborate with owners.

"The final option we would consider is start getting involved with an particular organization, an individual owner, without being in a position to cooperate with that owner to try and resolve the issues that the club's facing and the proprietor's dealing with," the regulator explained.

"In actuality, when you look back over the history of the game, over the last 20 or 30 years there have been some owners, a small minority, but certain individuals who have acted carelessly in the approach they have taken toward their clubs and ultimately don't wish to take responsibility for the coming years."

'Errors may undo substantial development'

Kogan met with delegates from multiple organizations to lay out the remit of the authority recently and stated it constituted a "forward-thinking discussion" with a "substantial involvement" from the lower divisions to the top flight.

"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 rapidly," the chairman stated.

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

"Substantial financial resources flowing into the game and has come into football for the past two decades, because there are no assurances it will continue to come into football, which is among the factors explaining I think we have to adopt a precise perspective on risk and of course, of the next two or three years."

Premier League Concerns

Elite division representatives objected to the establishment of an oversight body because of concerns about detrimental effects on the top-flight's competitiveness, but Kogan said: "I completely endorse the success and growth as an economic entity of the Premier League.

"As someone who appreciates the apprehension regarding damaging the division as a high-quality offering of this country. But simultaneously, if you talk to the Premier League after today's meeting, they would have had a high level of reassurance -and, in fact, they have been telling us in private they have a significant confidence."

Partisan Associations

The regulator remains subject to a "full inquiry" by the Commissioner for Public Appointments after he revealed he contributed money to the Labour Party in 2020.

The chairman provided financial support for Secretary of State for Culture, Media and Sport the politician's campaign, along with that of the government leader.

"I've been completely open about my previous political affiliation [with Labour], and that party membership ceased the day the select committee approved my appointment," the chairman stated.

"I currently have no participation in any form of political activity."