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Sheffield Wednesday's persistent issues constitute a "serious issue" and the independent regulator is aiming to acquire authority to investigate clubs in such situations, the recently named head the official has declared.

In a wide-ranging interview, Kogan, who was recently selected, showed understanding towards the club's followers.

The regulator engaged with four supporters' associations associated with the South Yorkshire club in recent days.

The Championship side have been facing challenges both on and off the pitch in this season, with the club missing wage payments on several different times, including in September.

"Clearly Sheffield Wednesday has been a significant problem for EFL and a significant problem for football," Kogan told.

"Sheffield Wednesday is one of the iconic names for English football and this week we have met fan representatives.

"We are seeking authority... which will allow us to have Sheffield Wednesday - and other clubs submitted for our review if they require examination and dealt with."

Financial Struggles and Ownership Situation

The team's struggling chairman the current owner suggested earlier this year he would be open to selling the club at their home ground, but he has been unable to finalize an agreement with prospective buyers.

Delayed salary payments on time in earlier this year resulted in restrictions being imposed by the English Football League (EFL) in June, blocking the team from conducting any transfers or loans for the subsequent signing windows, although those limitations were removed in late summer.

Regulator's Perspective

The chairman stated: "The job [of the regulator] is there for the Owls followers, Bury or any football club where supporters are loyal to a regional establishment that has existed throughout their lifetimes in many cases.

"I have absolute sympathy for the team's plight, as I do for every team that in modern times have encountered failure, or nearly ceased operations, for reasons that have nothing to do with the fans themselves."

When asked if the authority might compel an proprietor to divest a club if they are considered unfit, Kogan said: "Should the inquiry concern '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 chairman emphasized that compelling proprietors to divest clubs would be treated as a "last resort" and the authority would rather to work with them.

"The final option we would consider is begin intervening in an specific team, an particular chairman, without having the opportunity to collaborate with that proprietor to address the issues that the club's facing and the owner's facing," Kogan said.

"In actuality, when you examine the past of the sport, over the last 20 or 30 years there have been particular chairmen, not many, but particular people who have shown negligence in the manner they have operated their clubs and ultimately don't wish to take responsibility for the future."

'If we get it wrong, extraordinary progress vanishes'

Kogan met with officials from numerous teams to lay out the remit of the oversight body this week and maintained it represented a "proactive meeting" with a "significant participation" from the grassroots to elite level.

"The role holds considerable importance, because if we get it wrong, if the football community fails, the extraordinary progress that's been made necessary will vanish rapidly," the chairman stated.

"And that's what nobody wants in the terms of English football is a substantial accomplishment - we must maintain momentum.

"There's an enormous amount of money coming into football and has come into football for the past two decades, because there's no guarantee it will keep flowing into the sport, which is one of the reasons why I think we have to adopt a precise perspective on potential dangers and naturally, of the coming seasons."

Top Flight Apprehensions

The Premier League opposed the formation of an authority because of apprehensions regarding adverse consequences on the top-flight's competitiveness, but the regulator stated: "I'm absolutely committed to the achievement and development as an economic entity of the Premier League.

"As someone who appreciates the worry about compromising the top flight as an elite competition of England. 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."

Ideological Links

The chairman continues to confront a "thorough examination" by the official appointments authority after he disclosed making donations to the opposition group in the past.

The official donated money to Culture Secretary the minister's leadership bid, along with that of the now Prime Minister Sir Keir Starmer.

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

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