'Our role is integral to football's future' - football oversight chief the regulator's chair
The team's ongoing struggles are seen as a "significant problem" and the new football authority is aiming to acquire authority to investigate clubs in comparable cases, its new chair the official has stated.
In a wide-ranging interview, Kogan, who was named to the position this week, voiced concern towards the club's followers.
Kogan met with four supporter groups connected to the South Yorkshire club recently.
The Championship side have been struggling on and off the field in this season, with the club missing wage payments on five separate occasions, including in the autumn.
"Obviously the club has become a major concern for the league and a significant problem for football," the regulator explained.
"Sheffield Wednesday is one of the iconic names for football in England and in recent days we have met fan representatives.
"Our aim is to acquire the ability... which will permit us to bring Sheffield Wednesday - and other clubs referred to us if they need to be investigated and addressed."
Monetary Issues and Leadership Concerns
The club's controversial proprietor Dejphon Chansiri stated during the off-season he would be open to selling the club at the stadium, but he has failed to complete a sale with prospective buyers.
Failure to pay player wages on time in March and May caused limitations by the league officials in June, stopping Wednesday from completing any transfers or loans for the following recruitment periods, although the ban was rescinded in August.
Authority's Position
The regulator explained: "The position was created for the fans of Sheffield Wednesday, teams facing challenges where people are committed to a local institution that has existed throughout their lifetimes in multiple situations.
"I have absolute sympathy for 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 fans themselves."
Questioned about whether the regulator could force an owner to sell a club if they are considered unfit, the regulator answered: "Should the inquiry concern 'would we intervene in the final instance?', the reply is once we gather the evidence and comprehend the circumstances, we will."
But the regulator clarified that requiring chairmen to relinquish clubs would be viewed as the ultimate measure and the regulator would prefer to work with them.
"Our least desirable course of action is begin intervening in an specific team, an specific proprietor, without being able to work with that proprietor to address the problems affecting the organization and the chairman's encountering," Kogan said.
"But the truth is, when you look back over the history of the sport, over the last 20 or 30 years there have been particular chairmen, not many, but certain individuals who have acted carelessly in the approach they have taken toward their organizations and finally decline to assume obligation for the coming years."
Wednesday followers have been protesting against the team's chairman during the current campaign
'Errors may undo substantial development'
The chairman convened with 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 lower divisions to the top flight.
"It's a job that's actually really important, because if we get it wrong, if the sport makes errors, the significant advances achieved might evaporate rapidly," the regulator warned.
"Such an outcome is universally undesirable in the realm of domestic football is a huge success story - we must maintain momentum.
"There's an enormous amount of money coming into football and has been channeled for the recent generations, because there are no assurances it will keep flowing into the sport, which is one of the reasons why I think we have to maintain a focused outlook on risk and of course, of the next two or three years."
Top Flight Apprehensions
Top flight officials resisted the establishment of an oversight body because of concerns about detrimental effects on the Premier League's sporting equality, but the regulator stated: "I'm absolutely committed to the success and growth as an economic entity of the top division.
"As someone who appreciates the concern of undermining the division as a high-quality offering of this country. But concurrently, if you consult with top flight officials after today's meeting, they would have had a substantial amount of confidence -and, indeed, they have been advising us privately they have a high level of reassurance."
Ideological Links
The chairman continues to confront a "comprehensive investigation" by the Commissioner for Public Appointments after he revealed he contributed money to the Labour Party in recent years.
The chairman contributed funds to Culture Secretary Lisa Nandy's leadership campaign, along with that of the current Prime Minister.
"I have fully disclosed 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 type of partisan engagement."