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The Championship club's current difficulties represent a a "serious issue" and the new football authority is aiming to acquire authority to investigate clubs in similar circumstances, the recently named head the official has announced.

In a wide-ranging interview, the chairman, who was appointed on Monday, expressed "sympathy" towards Wednesday's fanbase.

Kogan met with four fan organizations representing the South Yorkshire club this week.

The football club have been facing challenges both on and off the pitch in 2025, with the club failing to pay players on time on multiple instances, including in the autumn.

"Clearly Sheffield Wednesday has been a serious issue for football authorities and a substantial concern for English football," the chairman stated.

"Wednesday stands as one of the historic institutions for football in England and this week we have met supporters' organizations.

"Our aim is to acquire the ability... which will allow us to have Sheffield Wednesday - and other clubs referred to us if they require examination and acted upon."

Monetary Issues and Ownership Situation

The club's controversial proprietor the Thai businessman stated during the off-season he would be willing to sell up at the stadium, but he has not been able to secure a deal with potential new owners.

Failure to pay player wages on time in earlier this year led to sanctions by the English Football League (EFL) in summer, stopping Wednesday from completing any transfers or loans for the next three transfer windows, although those limitations were removed in August.

Regulator's Perspective

The regulator explained: "Our role exists to serve the supporters of Wednesday, Bury or any football club where fans are dedicated to a regional establishment that has existed throughout their lifetimes in numerous instances.

"I have absolute sympathy for the team's plight, as I do for each organization that over recent decades have faced collapse, or been close to going to the wall, for causes separate from the followers."

When asked if the regulator could force an chairman to relinquish a club if they are judged inappropriate, Kogan said: "If your question is 'would we intervene in the final instance?', the answer is once we assemble the facts and know what's going on, 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 cooperate with proprietors.

"The last thing what we want to do is start getting involved with an specific team, an individual owner, without being able to work with that owner to try and resolve the challenges confronting the team and the owner's facing," the regulator explained.

"But the truth is, when you look back over the history of the game, over the past few decades there have been certain proprietors, a small minority, but some who have been irresponsible in the manner they have operated their teams and eventually refuse to accept accountability for the long-term prospects."

'If we get it wrong, extraordinary progress vanishes'

The chairman convened with officials from numerous teams to detail the scope of the oversight body this week and stated it constituted a "forward-thinking discussion" with a "significant participation" from the National League to the Premier League.

"The role holds considerable importance, because if errors are made, if the world of football gets it wrong, the remarkable development accomplished could disappear incredibly quickly," the chairman stated.

"This represents everyone's worst fear in the terms of English football is a substantial accomplishment - we've got to keep it going.

"Substantial financial resources entering the sport and has come into football for the last 20 or 25 years, because there are no assurances it will continue to come into football, which is among the factors explaining I think we have to maintain a focused outlook on risk and of course, of the next two or three years."

Elite Division Worries

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 completely endorse the achievement and development as an commercial operation of the Premier League.

"As someone who appreciates the apprehension regarding damaging the Premier League as a premium product of the nation. But at the same time, if you talk to the Premier League after today's meeting, they would have had a significant degree of comfort -and, indeed, they have been telling us in private they have a significant confidence."

Partisan Associations

Kogan is still facing a "full inquiry" by the official appointments authority after he revealed he contributed money to the opposition group in 2020.

The chairman contributed funds to government minister Lisa Nandy's leadership campaign, along with that of the current Prime Minister.

"I have been entirely transparent regarding my previous political affiliation [with Labour], and that party membership ceased the day the parliamentary committee confirmed my selection," the chairman stated.

"I am presently disconnected from any form of political activity."