Dave Whelan believes the time will come when a Premier League club is left in a financial crisis because their foreign owner "spits his dummy" and quits.
With nine Premier League outfits having foreign owners, Wigan chairman Whelan said it is probable that one will walk.
"I can see a foreign owner spitting his dummy and leaving a club piled high with debt," he told BBC Radio 5 Live.
"When it does happen I think it will be an awful shame for that club, which is left with �100m to �150m of debt."
Only last week, Football Association chairman Lord Triesman spoke of the financial dangers facing Premier League clubs, who have accrued an estimated �3bn debt between them.
And speaking to the Sportsweek programme, Whelan, who conceded that Wigan's debt stands at �22m, said that a form of salary capping was the only way to avoid a club from England's top flight going into receivership.
"There is no doubt that Europe is very, very jealous of the Premier League," he stated. "The more we dominate Europe, and last year we had both teams in the Champions League final, the worse it's going to get."
"Uefa are going to say things about debt and I agree. What we should be doing is limiting the debt a club has.
"Let's say 25 or 30% of income and you can't have any more debt on the balance sheet than that. If you do you're breaking rules and get points deducted.
"It is a salary cap but I think it would regulate clubs and stop these awful things happening when clubs go into receivership."
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