Ministers are reportedly considering the creation of a new regulatory body to oversee English football amid fears over the long-term financial security of a number of clubs.

According to the Sunday Telegraph, draft plans for a new 'Office of Football Regulation' are being considered in Whitehall, which would see direct intervention taken to ensure clubs' finances are kept under control. In a Parliamentary debate on 10 February, shadow sports minister Hugh Robertson indicated government intervention "remains an option", while an early day motion tabled by Tony Lloyd MP has urged the creation of a new framework to regulate club debt.

Lloyd's motion proposes "[that this House] calls on the government and the football authorities to create a binding framework, which will regulate club debt and those people who are involved in football, guarantee the protection of the consumer with rules for fair trading and protect the wider public interest by putting the supporter at the heart of the national game." The proposals come less than a week after Portsmouth Football Club was handed a week to prove it could satisfy the demands of its creditors after a winding-up order was brought against the club over a multi-million pound unpaid tax bill.

Cardiff City and Southend United both also received adjournments at the High Court last week, while Chester City and Crystal Palace are among a number of other clubs facing financial difficulties. Matt Taylor of law firm Eversheds said: "This has prompted rumours of possible government intervention and the appointment of a state controlled regulator. This would be the first time that the government has ever sought to involve itself with the financial management of any sport and therefore serious consideration must be given to its potential impact before any decisions are taken."