'We will play a key role in football's future' - newly appointed regulator the regulator's chair
The team's current difficulties are seen as a "major concern" and the independent regulator is looking to gain the ability to investigate clubs in such situations, its new chair the official has announced.
Through a comprehensive talk, the regulator, who was appointed on Monday, expressed "sympathy" towards supporters of the Owls.
The chairman convened with four supporters' associations associated with the football team in recent days.
The team have been experiencing difficulties in multiple areas in this season, with the club failing to pay players on time on five separate occasions, including in the autumn.
"Obviously the club has become a serious issue for football authorities and a substantial concern for English football," the chairman stated.
"The club represents one of the iconic names for English football and recently we have met fan representatives.
"We are seeking authority... which will enable us to take Wednesday and comparable cases referred to us if they warrant scrutiny and dealt with."
Financial Struggles and Proprietorship Status
Wednesday's embattled owner the Thai businessman stated during the off-season he would be willing to sell up at the stadium, but he has not been able to secure a deal with prospective buyers.
Failure to pay player wages on time in earlier this year caused limitations by the league officials in mid-year, blocking the team from conducting any transfers or loans for the following recruitment periods, although the ban was rescinded in the end of the transfer window.
Authority's Position
Kogan said: "The position was created for the fans of Sheffield Wednesday, teams facing challenges where fans are dedicated to a local institution that has been part of their lives in numerous instances.
"I have absolute sympathy for the team's plight, as I do for every team that over recent decades have faced collapse, or been close to going to the wall, for reasons that have nothing to do with the supporters."
Inquired if the regulator could force an proprietor to divest 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 comprehend the circumstances, we will."
But the regulator clarified that forcing owners to sell clubs would be considered the final option and the regulator would prefer to work with them.
"The last thing what we want to do is commence engagement with an specific team, an specific proprietor, without having the opportunity to collaborate with that chairman to fix the problems affecting the organization and the owner's facing," Kogan said.
"But the truth is, when you review the record of football, over the last 20 or 30 years there have been certain proprietors, 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 long-term prospects."
Owls fans have been voicing opposition to owner Dejphon Chansiri this season
'Mistakes could erase significant advances'
Kogan met with officials from numerous teams to explain the responsibilities of the regulator on Wednesday and stated it constituted a "proactive meeting" with a "substantial involvement" from the lower divisions to the top flight.
"It's a job that's actually really important, because if we get it wrong, if the football community fails, the significant advances achieved might evaporate incredibly quickly," the regulator warned.
"And that's what nobody wants in the context of the English game is a substantial accomplishment - we must maintain momentum.
"Considerable investment flowing into the game and has come into football for the past two decades, because there's no guarantee it will persist in entering the game, which is part of the rationale behind I think we have to maintain a focused outlook on potential dangers and naturally, of the immediate future."
Elite Division Worries
Top flight officials resisted the formation of an authority because of fears of a negative impact on the top-flight's competitiveness, but Kogan said: "I fully support the success and growth as an commercial operation of the top division.
"As someone who appreciates the concern of undermining the top flight as an elite competition of the nation. But at the same time, if you consult with top flight officials after this week's discussion, they would have had a significant degree of comfort -and, actually, they have been advising us privately they have a high level of reassurance."
Political Connections
The chairman continues to confront a "comprehensive investigation" by the public appointments commissioner after he revealed he contributed money to the Labour Party in recent years.
The chairman donated money to government minister the politician's campaign, along with that of the current Prime Minister.
"I've been completely open about my past party membership [with Labour], and that party membership ceased the day the select committee approved my appointment," Kogan said.
"I am no longer involved in any sort of politics."
