English football has been warned it is at a "crossroads" - and must make "stark choices" to avoid disaster.
Former Sports Minister Tracey Crouch 's fan-led review into governance has spelt out 47 key recommendations with the key proposal demanding the Government appoints an Independent Regulator for English football.
Crouch said: "The Review has formed the firm belief that our national game is at a crossroads with the proposed European Super League just one of many, albeit the most recent and clearest, illustrations of deep seated problems in the game.
"I believe there is a stark choice facing football in this country. As was remarked to the Review, for all the good owners in the game clubs are only one bad owner away from disaster."
The 162 page document has warned the men's game stands at a "financial precipice" and "fans have lost faith" in the way clubs and the game in general is run in this country.
Other recommendations were:
GOLDEN shares given to supporters to allow them to veto changes to club badges, stadium moves and entering competitions like the ESL in future.
FAN engagement with plans for a "shadow board" to give them a greater say on ticket prices and replica kits
INDEPENDENT Regulator for English football (IREF) should be appointed by the Government to stop any threat of the ESL happening again
NEW "fit and proper persons" test to replace the existing system which would also include an "integrity" test on potential owners and "real time" financial checks to stop another club like Bury going out of business.
PARACHUTE payments must be overhauled from the current system as it "distorts the market" with relegated clubs getting £40m-a-season and the Premier League and EFL until the end of the year to find a better system - or they must get "external advice" on finding a solution.
BOOZE should be allowed back within sight of the pitch on a trial basis for League Two and National League clubs as non-league clubs lose up to £100,000-a-year in sales plus it would stop binge drinking before games.
WOMEN'S football to be treated "with parity" plus action plans for equality, diversity and inclusion within football.
It highlighted Premier League clubs suffering pre-tax losses of £960m in 2019/20 with greater losses expected in 2020/21 because of the pandemic with wages spiralling out of control.
The report was also given evidence that "Birmingham City is currently £100m in debt", alleged the Championship club "breached profit and sustainability rules" while Reading spent approximately twice its revenue on wages in 2019/20 and Derby has gone into administration.
She told Mirror Sport: "Real time financial monitoring, assessment of owners and owners will be tested on a three year basis rather than just once and never again. If this had been in place then you wouldn't have seen Bury disappear or Derby in the position they are in now.
"Clubs chase success but they chase success not necessarily with money they have but they gamble on the future of the football club on what they think is the next step. It may sound complex but it's quite simple: do you have the money in the bank or don't you?"
Crouch added: "The darkest days have been watching clubs like Bury and Macclesfield Town disappear from our communities. Past and present Sports Ministers have often said 'football is in the last chance saloon' when it comes to reform.
"The saloon should be closed. Now is the time for an independent regulator to take on the reform that fans have been crying out for but which the authorities have failed to deliver, and it needs to be done now."