Parliamentary inquiry is on of the biggest ever held into the industry

The all-party parliamentary football group's inquiry into the sport's finances is likely to call for closer scrutiny when it reports in February.

The Times newspaper says the call for greater transparency would stop clubs going into debt.

Among other reforms on the table is the creation of an independent regulator to oversee the sport.

Additional plans under consideration include closer scrutiny of how football agents operate and tighter controls over who can become a director of a football club.

According to the newspaper, the parliamentary inquiry is also ready to propose ways to rein in the gap between teams in the Premiership and those outside the top flight.

Supporters' trusts could benefit from a plan to give them tax help to aid them getting involved in the running of clubs.