11 Feb 2010Football needs more regulation, says MP

Football Clubs News | Football Finance News

Manchester Central MP Tony Lloyd has called for the government to scrutinise the financial management of football clubs more closely.

As chairman of the Parliamentary Labour Party, the politician recently tabled a motion in the House of Commons suggesting that ministers should work alongside football authorities to create a new regulatory framework.

Mr Lloyd said that his experience as a Manchester United supporter has convinced him of the urgent need for reform.

"We saw a big money takeover with a lot of debt involved," he told the Manchester Evening News.

"But the same concerns apply to Liverpool, or Portsmouth, or West Ham United and other clubs - not just in the Premier League."

Mr Lloyd wants the government to impose a limit on the level of debt clubs are allowed to rack up, as well as finding a way to give fans a tangible stake in their teams.

Meanwhile, Lord Sugar has become the latest figure to criticise the way football clubs are run.

Speaking to BBC Radio Five Live, the former Tottenham Hotspur chairman said that spending on players' wages has reached "irresponsible" levels.

Written by Terry Mitchell

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