Last updated: 7th October 2008
The Football Association and Premier League have expressed differing views over the debate of the game's growing debt and foreign ownership.
Speaking at the Leaders in Football conference at Stamford Bridge, FA chairman Lord Triesman revealed English clubs currently owe an estimated £3billion.
Triesman said this posed a 'terrible danger' in the current global climate, while he addressed the issue raised by Fifa president Sepp Blatter that it is 'easy' to buy a football club.
"Transparency lies in an unmarked grave," Triesman said. "We now have a position where it is very hard to track things.
"It is not transparent enough and we don't know if we are able to track it, if the debt is held by people who are financially secure or not. More and more clubs are in trouble, with a number of owners leaving abruptly.
"It is certainly true that fans are apprehensive if their club is touted around in the market place. You can't have a complete disregard for people's passion for their club."
Without mentioning any club by name, Triesman said the Premier League's fit and proper persons test needed an urgent review.
"If there is a prima facie case of someone's human rights record being regarded internationally as being very serious, it's reasonable to question whether that person should be running a football club," he continued.
"Nobody has real confidence in what they cannot see. The fit and proper persons test does not do the job sufficiently robustly.
"A review is now inevitable because football clubs are not mere commodities. They are the abiding passion of their supporters. We forget that at our peril."
Speaking later at the same conference, Premier League chief executive Richard Scudamore said: "The FA themselves know about all these things because they are one of the most indebted organisations in the world.
"Our clubs are all heavily regulated but they've also got directors and owners who will assess the level of risk of their overall debt.
"This is at the top of clubs' agendas and I think they are managing it responsibly."
On the Premier League's approach to individual ownership of clubs he added: "We are a good example of a self-regulatory progressive organisation.
"The fit and proper person test may perhaps not have the correct name but it is not inadequate.
"There are people who are not owners of our clubs precisely because of the test."

A look at the best pictures as Michael Owen completes his surprise to Manchester United.
Pictures from the unveiling of Real Madrid's reported £56 million signing at the Santiago Bernabeu.
Pictures from the Under 21 championship semi-final between England and Sweden in Gothenburg.
Pictures from England's draw with Germany in the last Group B game of the Under 21 Championships.
A look at the best pictures as Michael Owen completes his surprise to Manchester United.
| Time | Fixture |
|---|---|
| Saturday 15th August | |
| Barclays Premier League | |
| 15:00 | Aston Villa vs Wigan |
| 15:00 | Blackburn vs Man City |
| 15:00 | Bolton vs Sunderland |
| 15:00 | Chelsea vs Hull |
| 15:00 | Everton vs Arsenal |
| 15:00 | Man Utd vs Birmingham |
| 15:00 | Portsmouth vs Fulham |
| 15:00 | Stoke vs Burnley |
| 15:00 | Tottenham vs Liverpool |
| 15:00 | Wolverhampton vs West Ham |
| Tuesday 18th August | |
| Barclays Premier League | |
| 19:45 | Birmingham vs Portsmouth |
| 19:45 | Burnley vs Man Utd |
| 19:45 | Fulham vs Blackburn |
| 19:45 | Hull vs Tottenham |
| 19:45 | Sunderland vs Chelsea |
| 19:45 | Wigan vs Wolverhampton |
| Wednesday 19th August | |
| Barclays Premier League | |
| 19:45 | Liverpool vs Stoke |
| Saturday 22nd August | |
| Barclays Premier League | |
| 15:00 | Arsenal vs Portsmouth |
| 15:00 | Birmingham vs Stoke |
| 15:00 | Burnley vs Everton |
| Time | Result |
|---|---|
| Sunday 24th May | |
| Barclays Premier League | |
| Aston Villa 1 - 0 Newcastle | |
| Blackburn 0 - 0 West Brom | |
| Hull 0 - 1 Man Utd | |
| Man City 1 - 0 Bolton | |
| Sunderland 2 - 3 Chelsea | |
| Fulham 0 - 2 Everton | |
| Arsenal 4 - 1 Stoke | |
| West Ham 2 - 1 Middlesbrough | |
| Wigan 1 - 0 Portsmouth | |
| Liverpool 3 - 1 Tottenham | |
| Monday 18th May | |
| Barclays Premier League | |
| Portsmouth 3 - 1 Sunderland | |
| Sunday 17th May | |
| Barclays Premier League | |
| Chelsea 2 - 0 Blackburn | |
| West Brom 0 - 2 Liverpool | |
| Saturday 16th May | |
| Barclays Premier League | |
| Newcastle 0 - 1 Fulham | |
| Bolton 1 - 1 Hull | |
| Stoke 2 - 0 Wigan | |
| Middlesbrough 1 - 1 Aston Villa | |
| Tottenham 2 - 1 Man City | |
| Everton 3 - 1 West Ham | |
| Man Utd 0 - 0 Arsenal | |
Skysports.com takes a look at striker Michael Owen's career to date following his Man United switch.
Skysports.com assesses Michael Owen's possible free transfer to Manchester United.
Ian Rush told Sky Sports News that Sir Alex Ferguson's move for Michael Owen could prove a masterstroke.
Michael Owen is eager to put his "poor spell" at Newcastle behind him by scoring goals and lifting silverware at his new club Man United.
Manchester United have confirmed the shock capture of Michael Owen, with the striker signing a two-year contract at Old Trafford.
Michael Owen has signed for Man Utd, Chelsea have landed Daniel Sturridge, while Florentino Perez wants "two more signings".
Chelsea have confirmed the signing of Daniel Sturridge on a four-year contract from Manchester City.
Joe Kinnear has backed Manchester United boss Sir Alex Ferguson to get the best out of Michael Owen.