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Sheffield Wednesday's ongoing struggles constitute a "major concern" and the independent regulator is looking to gain the ability to investigate clubs in similar circumstances, its new chair the regulator has declared.

During an extensive discussion, Kogan, who was recently selected, showed understanding towards supporters of the Owls.

Kogan met with four fan organizations associated with the football team in recent days.

The Championship side have been facing challenges both on and off the pitch in the current year, with the club delaying salary disbursements on five separate occasions, including in September.

"Evidently Wednesday represents a significant problem for EFL and a significant problem for football," Kogan told.

"Sheffield Wednesday is one of the great brands for football in England and recently we have met fan representatives.

"Our aim is to acquire the ability... which will enable us to take Sheffield Wednesday - and other clubs brought to our attention if they require examination and dealt with."

Financial Struggles and Ownership Situation

The club's controversial proprietor Dejphon Chansiri suggested earlier this year he would be prepared to relinquish control at Hillsborough, but he has not been able to secure a deal with potential new owners.

Missed wage deadlines on time in spring months led to sanctions by the English Football League (EFL) in June, stopping Wednesday from completing any transfers or loans for the subsequent signing windows, although those limitations were removed in late summer.

Official's Viewpoint

The chairman stated: "Our role exists to serve the supporters of Wednesday, 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 club's situation, as I do for each organization that in modern times have encountered failure, or nearly ceased operations, for reasons that have nothing to do with the fans themselves."

Inquired if the oversight body could require an proprietor to divest a club if they are judged inappropriate, the chairman responded: "Should the inquiry concern '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 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 commence engagement with an specific team, an individual owner, without being able to work with that owner to try and resolve the problems affecting the organization and the proprietor's dealing with," Kogan said.

"However, realistically, when you examine the past of football, over the recent generations there have been particular chairmen, few in number, but particular people who have shown negligence in the way which they've been managing their teams and eventually refuse to accept accountability for the future."

'Mistakes could erase significant advances'

The regulator engaged officials from numerous teams to explain the responsibilities of the authority recently and insisted it was a "forward-thinking discussion" with a "substantial involvement" from the grassroots to elite level.

"It's a job that's actually really important, because should mistakes occur, if the world of football gets it wrong, the significant advances achieved might evaporate rapidly," Kogan said.

"This represents everyone's worst fear in the context of the English game is a major achievement - we've got to keep it going.

"Substantial financial resources flowing into the game and has been channeled for the past two decades, because certainty is lacking it will persist in entering the game, which is one of the reasons why I think we have to take a really clear view on challenges and obviously, of the immediate future."

Premier League Concerns

The Premier League opposed the establishment of an oversight body because of fears of a negative impact on the top-flight's competitiveness, but Kogan said: "I'm absolutely committed to the prosperity and expansion as an commercial operation of the elite league.

"Being fully aware of the apprehension regarding damaging the Premier League as a premium product of this country. 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, in fact, they have been informing us confidentially they have a high level of reassurance."

Partisan Associations

The regulator remains subject to a "thorough examination" by the public appointments commissioner after he acknowledged providing funds to the political party in the past.

The chairman donated money to Secretary of State for Culture, Media and Sport the minister's leadership bid, along with that of the current Prime Minister.

"I have been entirely transparent regarding my previous political affiliation [with Labour], and that ideological connection terminated the day the official body endorsed my nomination," Kogan said.

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