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The team's persistent issues constitute a "significant problem" and the independent regulator is aiming to acquire authority to investigate clubs in comparable cases, the newly appointed chairman the official has announced.

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

Kogan met with four supporter groups associated with the Championship side this week.

The Championship side have been facing challenges both on and off the pitch in this season, with the club delaying salary disbursements on multiple instances, including in last month.

"Clearly Sheffield Wednesday has been a significant problem for EFL and a significant problem for football," the chairman stated.

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

"Our aim is to acquire the ability... which will enable us to take Wednesday and comparable cases submitted for our review if they need to be investigated and addressed."

Economic Challenges and Ownership Situation

The team's struggling chairman the Thai businessman suggested earlier this year he would be open to selling the club at Hillsborough, but he has failed to complete a sale with interested parties.

Delayed salary payments on time in spring months resulted in restrictions being imposed by the league officials in summer, stopping Wednesday from completing any recruitment activities for the subsequent signing windows, although that restriction was lifted in August.

Authority's Position

Kogan said: "The job [of the regulator] is there for the supporters of Wednesday, teams facing challenges where people are committed to a local institution that has existed throughout their lifetimes in multiple situations.

"I fully appreciate the club's situation, as I do for every team that over recent decades have faced collapse, or approached financial ruin, for reasons that have nothing to do with the supporters."

Inquired if the oversight body could require an owner to sell a club if they are deemed unsuitable, the chairman responded: "Should the inquiry concern 'would we intervene in the final instance?', the response would be once we gather the evidence and comprehend the circumstances, we will."

But the regulator clarified that requiring chairmen to relinquish clubs would be treated as a "last resort" and the regulator would prefer to work with them.

"Our least desirable course of action is start getting involved with an particular organization, an individual owner, without being able to work with that proprietor to address the challenges confronting the team and the proprietor's dealing with," Kogan said.

"However, realistically, when you examine the past of the sport, over the last 20 or 30 years there have been certain proprietors, a small minority, but some who have been irresponsible in the way which they've been managing their clubs and ultimately decline to assume obligation for the coming years."

'Errors may undo substantial development'

The chairman convened with officials from numerous teams to explain the responsibilities of the authority recently and stated it constituted a "proactive meeting" with a "significant participation" from the grassroots to elite level.

"The role holds considerable importance, because should mistakes occur, if the football community fails, the significant advances achieved could disappear swiftly," the chairman stated.

"And that's what nobody wants in the context of the English game is a major achievement - we must maintain momentum.

"There's an enormous amount of money coming into football and has been invested for the last 20 or 25 years, because there's no guarantee it will keep flowing into the sport, 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

The Premier League opposed the creation of a regulator because of fears of a negative impact on the Premier League's sporting equality, but the chairman responded: "I completely endorse the success and growth as an commercial operation of the top division.

"I of all people understand the concern of undermining the division as a high-quality offering of the nation. But concurrently, if you engage with division representatives after today's meeting, they would have had a significant degree of comfort -and, actually, they have been informing us confidentially they have a significant confidence."

Ideological Links

The regulator remains subject to a "comprehensive investigation" by the public appointments commissioner after he revealed he contributed money to the opposition group in 2020.

The 68-year-old provided financial support for Culture Secretary the politician's campaign, along with that of the now Prime Minister Sir Keir Starmer.

"I have fully disclosed my previous political affiliation [with Labour], and that ideological connection terminated the day the parliamentary committee confirmed my selection," the chairman stated.

"I am presently disconnected from any type of partisan engagement."