'We will play a key role in football's future' - newly appointed regulator the new chairman
The team's current difficulties constitute a "significant problem" and the independent regulator is seeking powers to investigate clubs in similar circumstances, the recently named head the official has stated.
In a wide-ranging interview, Kogan, who was recently selected, voiced concern towards the club's followers.
The regulator engaged with four fan organizations connected to the South Yorkshire club recently.
The football club have been experiencing difficulties in multiple areas in this season, with the club missing wage payments on multiple instances, including in last month.
"Clearly Sheffield Wednesday has been a major concern for the league and a major challenge for the sport," the regulator explained.
"Wednesday stands as one of the great brands for English football and in recent days we have met fan representatives.
"We are seeking authority... which will permit us to bring Wednesday and comparable cases referred to us if they warrant scrutiny and addressed."
Economic Challenges and Proprietorship Status
Wednesday's embattled owner the current owner suggested earlier this year he would be open to selling the club at the stadium, but he has been unable to finalize an agreement with potential new owners.
Delayed salary payments on time in March and May caused limitations by the football authorities in mid-year, preventing the club from carrying out any recruitment activities for the next three transfer windows, although the ban was rescinded in late summer.
Official's Viewpoint
The chairman stated: "Our role exists to serve the fans of Sheffield Wednesday, other clubs in similar situations where supporters are loyal to a regional establishment that has represented their community in many cases.
"I have absolute sympathy for the club's situation, as I do for all the clubs that in modern times have encountered failure, or approached financial ruin, for reasons that have nothing to do with the fans themselves."
Inquired if the regulator could force 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 answer is once we collect the information and understand the situation, we will."
But Kogan stressed that forcing owners to sell 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 individual club, an particular chairman, without having the opportunity to collaborate with that proprietor to address the issues that the club's facing and the owner's facing," Kogan said.
"But the truth is, when you look back over the history of the sport, over the recent generations there have been particular chairmen, few in number, but some who have been irresponsible in the way which they've been managing their organizations and finally don't wish to take responsibility for the long-term prospects."
Owls fans have been protesting against the current proprietor this season
'If we get it wrong, extraordinary progress vanishes'
The regulator engaged delegates from multiple organizations to lay out the remit of the regulator on Wednesday and maintained it represented a "forward-thinking discussion" with a "significant participation" from the lower divisions to the top flight.
"This position carries substantial significance, because if we get it wrong, if the sport makes errors, the significant advances achieved could disappear incredibly quickly," the regulator warned.
"Such an outcome is universally undesirable in the realm of domestic football is a substantial accomplishment - we've got to keep it going.
"Considerable investment flowing into the game and has been invested 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 adopt a precise perspective on challenges and obviously, of the next two or three years."
Premier League Concerns
Top flight officials resisted the establishment of an oversight body because of apprehensions regarding adverse consequences on the elite division's competitive balance, but the regulator stated: "I completely endorse the success and growth as an financial organization of the Premier League.
"Being fully aware of the apprehension regarding damaging the top flight as an elite competition of England. But simultaneously, if you talk to the Premier League after today's meeting, they would have had a high level of reassurance -and, actually, they have been telling us in private they have a significant confidence."
Partisan Associations
The chairman continues to confront a "thorough examination" by the Commissioner for Public Appointments after he revealed he contributed money to the political party in recent years.
The chairman donated money to Secretary of State for Culture, Media and Sport the minister's leadership bid, along with that of the government leader.
"I have fully disclosed my previous political affiliation [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."