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Sheffield Wednesday's ongoing struggles constitute a "significant problem" and the new football authority is seeking powers to investigate clubs in such situations, the newly appointed chairman the regulator has stated.

In a wide-ranging interview, Kogan, who was appointed on Monday, voiced concern towards the club's followers.

The regulator engaged with four fan organizations connected to the football team in recent days.

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 five separate occasions, including in September.

"Evidently Wednesday represents a significant problem for EFL and a major challenge for the sport," Kogan told.

"The club represents one of the great brands for English football and in recent days we have met supporters' organizations.

"Our aim is to acquire the ability... which will permit us to bring Sheffield Wednesday - and other clubs brought to our attention if they require examination and addressed."

Financial Struggles and Ownership Situation

The team's struggling chairman Dejphon Chansiri stated during the off-season he would be willing to sell up at their home ground, but he has failed to complete a sale with interested parties.

Missed wage deadlines on time in spring months resulted in restrictions being imposed by the English Football League (EFL) in summer, preventing the club from carrying out any transfers or loans for the following recruitment periods, although the ban was rescinded in August.

Official's Viewpoint

Kogan said: "The job [of the regulator] is there for the Owls followers, Bury or any football club where supporters are loyal to a local institution that has been part of their lives in many cases.

"I completely understand the team's plight, as I do for all the clubs that in modern times have encountered failure, or been close to going to the wall, for reasons that have nothing to do with the followers."

Questioned about whether 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 reply is once we collect the information and understand the situation, we will."

But the regulator clarified that forcing owners to sell 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 individual club, an specific proprietor, without having the opportunity to collaborate with that owner to try and resolve the challenges confronting the team and the proprietor's dealing with," the regulator explained.

"However, realistically, 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 way which they've been managing their organizations and finally refuse to accept accountability for the future."

'Mistakes could erase significant advances'

The chairman convened with officials from numerous teams to detail the scope of the oversight body this week and insisted it was a "proactive meeting" 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 sport makes errors, the remarkable development accomplished necessary will vanish incredibly quickly," Kogan said.

"And that's what nobody wants in the realm of domestic football is a substantial accomplishment - we need to continue the progress.

"There's an enormous amount of money coming into football and has been invested 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 maintain a focused outlook on risk and of course, of the immediate future."

Elite Division Worries

Elite division representatives objected to the formation of an authority because of concerns about detrimental effects on the Premier League's sporting equality, but the chairman responded: "I fully support the achievement and development as an financial organization of the Premier League.

"I of all people understand the concern of undermining the top flight as an elite competition of the nation. But simultaneously, if you talk to the Premier League 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."

Partisan Associations

Kogan is still facing a "thorough examination" by the Commissioner for Public Appointments after he disclosed making donations to the opposition group in recent years.

The chairman provided financial support for government minister the politician's campaign, along with that of the government leader.

"I've been completely open about my past party membership [with Labour], and that political affiliation came to an end the day the official body endorsed my nomination," the regulator explained.

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