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Sheffield Wednesday's ongoing struggles are seen as a "significant problem" and the football regulator is seeking powers to investigate clubs in such situations, its new chair the regulator has stated.

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

The regulator engaged with four supporter groups connected to the football team recently.

The Championship side have been struggling on and off the field in the current year, with the club failing to pay players on time on five separate occasions, including in September.

"Evidently Wednesday represents a significant problem for EFL and a significant problem for football," the chairman stated.

"Sheffield Wednesday is one of the historic institutions for the English game and this week we have met fan representatives.

"We are seeking authority... which will permit us to bring Sheffield Wednesday - and other clubs referred to us if they need to be investigated and addressed."

Financial Struggles and Ownership Situation

Wednesday's embattled owner the Thai businessman indicated in the summer he would be prepared to relinquish control at Hillsborough, but he has not been able to secure a deal with potential new owners.

Failure to pay player wages on time in spring months resulted in restrictions being imposed by the football authorities in summer, blocking the team from conducting any recruitment activities for the next three transfer windows, although the ban was rescinded in August.

Regulator's Perspective

Kogan said: "The position was created for the Owls followers, other clubs in similar situations where supporters are loyal to a regional establishment that has been part of their lives in multiple situations.

"I fully appreciate the team's plight, as I do for all the clubs that in modern times have encountered failure, or nearly ceased operations, for causes separate from the supporters."

Inquired if the authority might compel an owner to sell a club if they are deemed unsuitable, Kogan said: "When asking whether 'would we intervene in the final instance?', the response would be once we gather the evidence and know what's going on, we will."

But the regulator clarified that forcing owners to sell clubs would be considered the final option and the regulator would prefer to cooperate with proprietors.

"Our least desirable course of action is commence engagement with an specific team, an specific proprietor, without being able to work with that chairman to fix the issues that the club's facing and the proprietor's dealing with," the chairman stated.

"However, realistically, when you examine the past of the game, over the recent generations there have been some owners, not many, but certain individuals who have acted carelessly in the approach they have taken toward their organizations and finally don't wish to take responsibility for the future."

'If we get it wrong, extraordinary progress vanishes'

The regulator engaged officials from numerous teams to lay out the remit of the regulator on Wednesday and insisted it was a "progressive gathering" with a "substantial involvement" from the National League to the Premier League.

"It's a job that's actually really important, because if errors are made, if the football community fails, the extraordinary progress that's been made could disappear rapidly," the regulator warned.

"Such an outcome is universally undesirable in the terms of English football is a huge success story - we must maintain momentum.

"There's an enormous amount of money flowing into the game and has been channeled for the recent generations, because there are no assurances 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 apprehensions regarding adverse consequences on the top-flight's competitiveness, but Kogan said: "I fully support the success and growth as an commercial operation of the top division.

"Being fully aware of the concern of undermining the Premier League as a premium product of the nation. But at the same time, if you consult with top flight officials after the recent gathering, they would have had a substantial amount of confidence -and, actually, they have been advising us privately they have a considerable comfort."

Ideological Links

The regulator remains subject to a "thorough examination" by the public appointments commissioner after he revealed he contributed money to the opposition group in the past.

The 68-year-old provided financial support for government minister the politician's campaign, along with that of the current Prime Minister.

"I have fully disclosed my previous political affiliation [with Labour], and that political affiliation came to an end the day the select committee approved my appointment," the chairman stated.

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