Manchester City is the latest club to be taken over by foreign investors
The rules governing the financing and ownership of football clubs are "inadequate", according to Football Association chairman Lord Triesman.
Culture secretary Andy Burnham has already warned the FA that tighter rules on foreign ownership are needed.
"We all want clubs in the best hands," Triesman told the Daily Telegraph.
"Football has a tier of regulation beyond company law or stock market regulation but I'm not sure that existing framework is adequate."
The debate has been stimulated by a host of foreign buy-outs in British football over recent years, with Manchester United, Liverpool, Aston Villa and Portsmouth all now in the hands of overseas owners.
In the latest high-profile takeover, Arab company Abu Dhabi United Group bought a majority stake in Manchester City at the start of September.
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