Football Association chairman Lord Triesman has warned a salary cap may need introduced in English football.
Speaking at the Leaders in Football conference at Stamford Bridge, Triesman revealed English clubs face an uncertain financial future as they currently owe a combined £3billion.
Triesman fears the current global economic problems could cause serious damage to English football, possibly leading to some clubs going bankrupt.
Bolton chairman Phil Gartside suggested idea of a salary cap to safeguard clubs’ finances and Triesman admits those measures may need to be implemented.
“The reason I made the point about the 12 per cent per annum growth in wages is because some of the money is flowing through the clubs inevitably, including some of the money that is in their debt package is in wages,” Triesman told Sky Sports News.
“I will be told in no doubt, if you want to compete at the highest levels you have got to be competitive in the wages market as well.
“I just make the point there is a volume of debt which becomes very significant in those circumstances and people need to think about it.
“I am told by people right through the football pyramid, down in the leagues in the Blue Square Premier for example, below the Football League that the issues of working with agents, trying to deal with wages right through the system is now impacted.
“This is like a waterfall, the water is reaching right down to the ground-level.
Asked if a salary cap needs to be introduced, Triesman said: “People in the clubs are the only ones who will be able to judge that.
“I start with the general proposition that we have in this business, as in so many other businesses, we have a level of debt which should cause us to stop, think and review where we are.”