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The Championship club's ongoing struggles represent a a "significant problem" and the football regulator is looking to gain the ability to investigate clubs in similar circumstances, the recently named head the regulator has announced.

In a wide-ranging interview, Kogan, who was named to the position this week, expressed "sympathy" towards the club's followers.

The chairman convened with four fan organizations connected to the South Yorkshire club recently.

The Championship side have been struggling on and off the field in the current year, with the club missing wage payments on multiple instances, including in September.

"Clearly Sheffield Wednesday has been a significant problem for EFL and a major challenge for the sport," Kogan told.

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

"We're now looking to get powers... which will permit us to bring Sheffield Wednesday - and other clubs referred to us if they need to be investigated and dealt with."

Financial Struggles and Proprietorship Status

Wednesday's embattled owner the current owner indicated in the summer he would be willing to sell up at the stadium, but he has not been able to secure a deal with prospective buyers.

Delayed salary payments on time in earlier this year resulted in restrictions being imposed by the football authorities in June, stopping Wednesday from completing any recruitment activities for the following recruitment periods, although those limitations were removed in the end of the transfer window.

Official's Viewpoint

Kogan said: "Our role exists to serve the fans of Sheffield Wednesday, Bury or any football club where supporters are loyal to a local institution that has represented their community in multiple situations.

"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 causes separate from the fans themselves."

Questioned about whether 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 reply is once we gather the evidence and understand the situation, we will."

But Kogan stressed that requiring chairmen to relinquish clubs would be viewed as the ultimate measure and the oversight body would choose to work with them.

"The final option we would consider is begin intervening in an particular organization, an individual owner, without being able to work with that owner to try and resolve the problems affecting the organization and the owner's facing," the chairman stated.

"In actuality, when you look back over the history of the game, over the last 20 or 30 years there have been certain proprietors, a small minority, but some who have been irresponsible in the approach they have taken toward their clubs and ultimately decline to assume obligation for the future."

'Errors may undo substantial development'

The chairman convened with representatives from 110 clubs to explain the responsibilities of the oversight body this week and stated it constituted a "proactive meeting" with a "high level of engagement" from the National League to the Premier League.

"The role holds considerable importance, because if we get it wrong, if the football community fails, the remarkable development accomplished might evaporate rapidly," the chairman stated.

"And that's what nobody wants in the terms of English football is a substantial accomplishment - we've got to keep it going.

"Considerable investment entering the sport and has been invested for the past two decades, because certainty is lacking it will persist in entering the game, which is one of the reasons why I think we have to take a really clear view on challenges and obviously, of the immediate future."

Top Flight Apprehensions

Top flight officials resisted the creation of a regulator because of fears of a negative impact on the top-flight's competitiveness, but the chairman responded: "I'm absolutely committed to the achievement and development as an commercial operation of the Premier League.

"Being fully aware of the apprehension regarding damaging the Premier League as a premium product of the nation. But at the same time, if you engage with division representatives 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 high level of reassurance."

Partisan Associations

The regulator remains subject to a "thorough examination" by the official appointments authority after he revealed he contributed money to the Labour Party in the past.

The 68-year-old provided financial support for Secretary of State for Culture, Media and Sport the minister's leadership bid, along with that of the government leader.

"I have fully disclosed my former ideological connection [with Labour], and that ideological connection terminated the day the official body endorsed my nomination," the chairman stated.

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