'We will play a key role in football's future' - football oversight chief the new chairman
The team's persistent issues are seen as a "serious issue" and the new football authority is looking to gain the ability to investigate clubs in comparable cases, the recently named head the regulator has declared.
In a wide-ranging interview, Kogan, who was appointed on Monday, voiced concern towards supporters of the Owls.
The chairman convened with four supporter groups representing the Championship side recently.
The team have been facing challenges both on and off the pitch in the current year, with the club missing wage payments on several different times, including in the autumn.
"Clearly Sheffield Wednesday has been a major concern for the league and a substantial concern for English football," the chairman stated.
"The club represents one of the iconic names for English football and this week we have met Sheffield Wednesday supporters' groups.
"We're now looking to get powers... which will allow us to have Sheffield Wednesday - and other clubs submitted for our review if they warrant scrutiny and acted upon."
Financial Struggles and Proprietorship Status
The club's controversial proprietor Dejphon Chansiri 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 potential new owners.
Missed wage deadlines on time in earlier this year resulted in restrictions being imposed by the league officials in mid-year, stopping Wednesday from completing any recruitment activities for the subsequent signing windows, although that restriction was lifted in the end of the transfer window.
Authority's Position
The regulator explained: "Our role exists to serve the Owls followers, other clubs in similar situations where fans are dedicated to a local institution that has existed throughout their lifetimes in many cases.
"I have absolute sympathy for the team's plight, as I do for each organization that since 1992 have gone to the wall, or approached financial ruin, for reasons that have nothing to do with the followers."
Questioned about whether the oversight body could require an proprietor to divest a club if they are judged inappropriate, 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 regulator clarified that requiring chairmen to relinquish clubs would be considered the final option and the regulator would prefer to work with them.
"The final option we would consider is start getting involved with an individual club, an particular chairman, 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.
"But the truth is, when you examine the past of the game, over the last 20 or 30 years 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 decline to assume obligation for the coming years."
Sheffield Wednesday supporters have been demonstrating against owner Dejphon Chansiri this season
'Mistakes could erase significant advances'
The chairman convened with officials from numerous teams to explain the responsibilities of the regulator on Wednesday and insisted it was 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 errors are made, if the sport makes errors, the extraordinary progress that's been made could disappear incredibly quickly," the chairman stated.
"This represents everyone's worst fear in the context of the English game is a major achievement - we need to continue the progress.
"There's an enormous amount of money coming into football and has been invested for the recent generations, because there are no assurances it will persist in entering the game, which is among the factors explaining I think we have to maintain a focused outlook on potential dangers and naturally, of the next two or three years."
Top Flight Apprehensions
Top flight officials resisted the creation of a regulator because of fears of a negative impact on the top-flight's competitiveness, but Kogan said: "I fully support the prosperity and expansion as an financial organization of the Premier League.
"Being fully aware of the worry about compromising the Premier League as a premium product of England. But simultaneously, if you engage with division representatives after this week's discussion, they would have had a substantial amount of confidence -and, in fact, they have been informing us confidentially they have a considerable comfort."
Political Connections
The chairman continues to confront a "full inquiry" by the Commissioner for Public Appointments after he acknowledged providing funds to the Labour Party in recent years.
The 68-year-old donated money to Secretary of State for Culture, Media and Sport the minister's leadership bid, along with that of the government leader.
"I've been completely open about my former ideological connection [with Labour], and that political affiliation came to an end the day the parliamentary committee confirmed my selection," Kogan said.
"I am no longer involved in any sort of politics."
