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Sheffield Wednesday's current difficulties constitute a "major concern" and the new football authority is looking to gain the ability to look into club affairs in comparable cases, the recently named head the official has announced.

Through a comprehensive talk, Kogan, who was appointed on Monday, voiced concern towards the club's followers.

Kogan met with four supporters' associations associated with the South Yorkshire club recently.

The Championship side have been experiencing difficulties in multiple areas in the current year, with the club missing wage payments on several different times, including in September.

"Obviously the club has become a significant problem for EFL and a major challenge for the sport," Kogan told.

"The club represents one of the historic institutions for football in England and this week we have met Sheffield Wednesday supporters' groups.

"Our aim is to acquire the ability... which will permit us to bring the club and similar situations brought to our attention if they need to be investigated and addressed."

Economic Challenges and Ownership Situation

The club's controversial proprietor the Thai businessman stated during the off-season he would be willing to sell up at their home ground, but he has been unable to finalize an agreement with potential new owners.

Missed wage deadlines on time in spring months led to sanctions by the football authorities in mid-year, preventing the club from carrying out any transfers or loans for the following recruitment periods, although those limitations were removed in late summer.

Regulator's Perspective

The regulator explained: "Our role exists to serve the supporters of Wednesday, teams facing challenges where supporters are loyal to a local institution that has been part of their lives in numerous instances.

"I fully appreciate Sheffield Wednesday, as I do for all the clubs that since 1992 have gone to the wall, or approached financial ruin, for factors unrelated to the followers."

When asked if the authority might compel an owner to sell a club if they are considered unfit, the chairman responded: "If your question is 'would we intervene in the final instance?', the response would be once we collect the information and know what's going on, we will."

But Kogan stressed that forcing owners to sell 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 specific team, an individual owner, without being in a position to cooperate with that owner to try and resolve the challenges confronting the team and the owner's facing," Kogan said.

"But the truth is, when you examine the past of the game, over the past few decades there have been some owners, not many, but particular people who have shown negligence in the approach they have taken toward their teams and eventually don't wish to take responsibility for the coming years."

'If we get it wrong, extraordinary progress vanishes'

The chairman convened with officials from numerous teams to lay out the remit of the oversight body this week and insisted it was a "proactive meeting" with a "significant participation" from the grassroots to elite level.

"This position carries substantial significance, because if errors are made, if the sport makes errors, the extraordinary progress that's been made might evaporate swiftly," the regulator warned.

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

"There's an enormous amount of money entering the sport and has been channeled for the last 20 or 25 years, because certainty is lacking it will persist in entering the game, which is one of the reasons why 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 creation of a regulator because of fears of a negative impact on the Premier League's sporting equality, but Kogan said: "I fully support the success and growth as an financial organization of the Premier League.

"I of all people understand the worry about compromising the top flight as an elite competition of the nation. But at the same time, if you talk to the Premier League after this week's discussion, they would have had a high level of reassurance -and, indeed, they have been telling us in private they have a high level of reassurance."

Partisan Associations

The regulator remains subject to a "full inquiry" by the official appointments authority after he disclosed making donations to the political party in the past.

The official donated money to Secretary of State for Culture, Media and Sport Lisa Nandy's leadership campaign, along with that of the government leader.

"I have been entirely transparent regarding my past party membership [with Labour], and that ideological connection terminated the day the select committee approved my appointment," Kogan said.

"I am no longer involved in any type of partisan engagement."