'We will play a key role in football's future' - football oversight chief the regulator's chair
The team's persistent issues constitute a "significant problem" and the independent regulator is aiming to acquire authority to examine team situations in comparable cases, the newly appointed chairman the official has declared.
During an extensive discussion, Kogan, who was named to the position this week, voiced concern towards Wednesday's fanbase.
Kogan met with four supporters' associations associated with the Championship side recently.
The football club have been struggling on and off the field in the current year, with the club failing to pay players on time on multiple instances, including in the autumn.
"Clearly Sheffield Wednesday has been a significant problem for EFL and a major challenge for the sport," the regulator explained.
"The club represents one of the great brands for the English game and in recent days we have met fan representatives.
"We're now looking to get powers... which will enable us to take the club and similar situations referred to us if they require examination and acted upon."
Financial Struggles and Leadership Concerns
The team's struggling chairman the current owner stated during the off-season he would be willing to sell up at their home ground, but he has not been able to secure a deal with interested parties.
Delayed salary payments on time in March and May caused limitations by the English Football League (EFL) in summer, stopping Wednesday from completing any player acquisitions for the next three transfer windows, although the ban was rescinded in the end of the transfer window.
Authority's Position
Kogan said: "The job [of the regulator] is there for the supporters of Wednesday, teams facing challenges where supporters are loyal to a local institution that has represented their community in multiple situations.
"I completely understand the club's situation, as I do for every team that in modern times have encountered failure, or been close to going to the wall, for reasons that have nothing to do with the supporters."
Questioned about whether the regulator could force an chairman to relinquish a club if they are considered unfit, Kogan said: "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 the chairman emphasized that compelling proprietors to divest clubs would be considered the final option and the regulator would prefer to collaborate with owners.
"The final option we would consider is begin intervening in an individual club, 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," the regulator explained.
"However, realistically, when you look back over the history of the game, over the recent generations there have been particular chairmen, not many, but some who have been irresponsible in the manner they have operated their teams and eventually decline to assume obligation for the long-term prospects."
Wednesday followers have been demonstrating against the team's chairman in recent months
'Errors may undo substantial development'
The regulator engaged representatives from 110 clubs to detail the scope of the regulator on Wednesday and maintained it represented a "proactive meeting" with a "high level of engagement" from the lower divisions to the top flight.
"The role holds considerable importance, because if errors are made, if the world of football gets it wrong, the significant advances achieved necessary will vanish swiftly," the chairman stated.
"And that's what nobody wants in the context of the English game is a huge success story - we must maintain momentum.
"There's an enormous amount of money entering the sport and has been invested for the last 20 or 25 years, because there are no assurances it will keep flowing into the sport, which is one of the reasons why I think we have to take a really clear view on potential dangers and naturally, of the coming seasons."
Top Flight Apprehensions
The Premier League opposed the creation of a regulator because of concerns about detrimental effects on the elite division's competitive balance, but the chairman responded: "I fully support the success and growth as an financial organization of the top division.
"As someone who appreciates the apprehension regarding damaging the top flight as an elite competition of the nation. But at the same time, if you engage with division representatives after the recent gathering, they would have had a significant degree of comfort -and, actually, they have been informing us confidentially they have a significant confidence."
Political Connections
The regulator remains subject to a "comprehensive investigation" by the Commissioner for Public Appointments after he revealed he contributed money to the Labour Party in the past.
The official contributed funds to government minister the minister's leadership bid, along with that of the current Prime Minister.
"I've been completely open about my past party membership [with Labour], and that ideological connection terminated the day the official body endorsed my nomination," the regulator explained.
"I am presently disconnected from any type of partisan engagement."
