A very welcome set of proposals. Hope they get some traction. I understand the angle that says applying greater governance to the English leagues may result in a weakening its strength as owners may choose to invest elsewhere and players will follow the money, but personally I don't think that's what would happen. The Premier League is now so well established as the top league in Europe it would take a really long time for that balance top shift, and it's not like imposing limitations will result in the wages on offer being low. Maybe just slightly less obscene relative to other leagues. If the choice facing a player is £150k per week at a competitive PL club vs £250k per week in a less competitive league, many of them will choose to stay. That's why the Chinese league hasn't become a global superpower, but instead a stopping point for players at the end of their careers. The German and Italian leagues are the only ones with enough big clubs to make a really competitive league to rival the PL, and German clubs are already heavily regulated.
Myself and Alan Bloore just joined a Q&A with other Supporters' Trusts and Fan bodies hosted by the FSA and Tracey Crouch MP who has authored this report. What struck me was how confident she is that this is going to happen. Sounds like she's already tapped the chancellor up for money to set up the independent regulator before the the legislation goes through.