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The team's persistent issues are seen as a "significant problem" and the new football authority is seeking powers to look into club affairs in such situations, its new chair the official has declared.

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

The chairman convened with four fan organizations 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 multiple instances, including in September.

"Clearly Sheffield Wednesday has been a major concern for the league and a significant problem for football," Kogan told.

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

"We're now looking to get powers... which will allow us to have Sheffield Wednesday - and other clubs brought to our attention if they warrant scrutiny and addressed."

Financial Struggles and Proprietorship Status

The team's struggling chairman the current owner suggested earlier this year he would be willing to sell up at Hillsborough, but he has been unable to finalize an agreement with potential new owners.

Missed wage deadlines on time in earlier this year resulted in restrictions being imposed by the league officials in summer, preventing the club from carrying out any recruitment activities for the subsequent signing windows, although those limitations were removed in late summer.

Authority's Position

The chairman stated: "Our role exists to serve the fans of Sheffield Wednesday, teams facing challenges where fans are dedicated to a community organization that has existed throughout their lifetimes in numerous instances.

"I completely understand the team's plight, as I do for every team that over recent decades have faced collapse, or nearly ceased operations, for causes separate from the supporters."

Questioned about whether the regulator could force an owner to sell a club if they are considered unfit, the chairman responded: "When asking whether 'would we intervene in the final instance?', the answer is once we gather the evidence and understand the situation, we will."

But Kogan stressed that requiring chairmen to relinquish clubs would be treated as a "last resort" and the authority would rather to work with them.

"Our least desirable course of action is commence engagement with an particular organization, an particular chairman, without being able to work with that owner to try and resolve the challenges confronting the team and the proprietor's dealing with," the chairman stated.

"However, realistically, when you examine the past of football, over the past few decades there have been particular chairmen, not many, but certain individuals who have acted carelessly in the approach they have taken toward their clubs and ultimately decline to assume obligation for the future."

'If we get it wrong, extraordinary progress vanishes'

Kogan met with delegates from multiple organizations to explain the responsibilities of the regulator on Wednesday and stated it constituted a "proactive meeting" with a "high level of engagement" from the lower divisions to the top flight.

"The role holds considerable importance, because if we get it wrong, if the world of football gets it wrong, the remarkable development accomplished necessary will vanish swiftly," the chairman stated.

"And that's what nobody wants in the realm of domestic football is a huge success story - we've got to keep it going.

"Substantial financial resources coming into football and has come into football for the past two decades, because certainty is lacking 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."

Elite Division Worries

Elite division representatives objected to the formation of an authority because of fears of a negative impact on the Premier League's sporting equality, but the chairman responded: "I'm absolutely committed to the prosperity and expansion as an economic entity of the Premier League.

"As someone who appreciates the apprehension regarding damaging the Premier League as a premium product of this country. But simultaneously, if you consult with top flight officials after this week's discussion, 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."

Political Connections

Kogan is still facing a "thorough examination" by the Commissioner for Public Appointments after he acknowledged providing funds to the opposition group in the past.

The official donated money to Culture Secretary the politician's campaign, along with that of the current Prime Minister.

"I've been completely open about my previous political affiliation [with Labour], and that ideological connection terminated the day the parliamentary committee confirmed my selection," Kogan said.

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